Avista Healthcare Public Acquisiton Corp (NASDAQ: AHPA) announced plans to combine with Organogenesis Inc.
Organogenesis Inc. is a leading regenerative medicine company focused on the development, manufacture and commercialization of product solutions for the Advanced Wound Care, Surgical and Sports Medicine markets.
The two companies have entered into a definitive merger agreement, under which Organogenesis will become a wholly-owned subsidiary of AHPAC. Affiliates of Avista Capital Partners, a leading private equity firm, have agreed to invest $92 million in the combined company in conjunction with the transaction.
Following the closing of the transaction, Organogenesis will be listed on the NASDAQ Stock Exchange under the ticker symbol "ORGO." The combined company will have an anticipated initial enterprise value of approximately $673 million.
Organogenesis' versatile product portfolio is designed to treat a variety of patients with repair and regenerative needs across the continuum of care. Today, Organogenesis has over 600 employees worldwide and is led by a management team of talented individuals with more than 75 years of collective regenerative medicine experience.
Said AHPAC chairman Thompson Dean, "We are delighted to be partnering with Organogenesis, as the Company is well-positioned to benefit from secular tailwinds driving growth in the Advanced Wound Care, Surgical and Sports Medicine sectors."
"Organogenesis represents an ideal partner for AHPAC given its leading position in the large and attractive regenerative medicine sector, numerous growth opportunities and demonstrated ability to execute on product development and commercialization capabilities."
Shares lost 2.8 cents to $10.08
