Today Allergan announced its intention to acquire California-based medical aesthetics company Zeltiq Aesthetics, Inc. Zeltiq manufactures products that use its patented cooling technology, most notably the CoolSculpting System, which is FDA cleared for lipolysis or reducing unwanted fat. The method cools targeted fat cells to eliminate the cells in a controlled manner without affecting surrounding tissue. The global aesthetics market is an expanding space, and body contouring is a $4 billion global market opportunity, according to Allergan.

The acquisition is subject to Zeltiq shareholder approval. Allergan anticipates the transaction will close during the second half of this year.