14 Jan 2014
Healthcare Equipment and Services
- Placing Size:
- Post Deal Mkt Cap:
Zeus leads double acquisition for Healthcare Investment Opportunities
Zeus Capital has advised Healthcare Investment Opportunities (HIO), which has completed two acquisitions that set the strategic direction of the business. As part of the deal, HIO has changed its name to Collagen Solutions.
The company, advised by Zeus Capital, has bought San Jose, California-based Collagen Solutions and the Glasgow-based manufacturing business Collbio.
Collagen Solutions provides medical grade bovine collagen from closed herd and GBR1 countries and customised collagen based on customer requirements. Collagen Solutions also offers research and development services to develop and create devices from concept to clinical trial stage, as well as offering consultancy services for technology transfers to outside manufacturing facilities.
The acquisitions, which constituted a reverse takeover under the AIM Rules, provides an opportunity for a management team to provide effective and affordable treatment to patients across the globe.
Ross Andrews, Director, Corporate Finance at Zeus Capital, commented;
“Zeus Capital is delighted to advise the Company on its first major acquisitions following its initial fund raising and listing in April 2013. We believe this deal is transformational. Collagen is a material that has had a long history of use in the medical devices industry and its properties are well known. Combining the companies and their respective management teams gives the enlarged group the capacity to compete in the global collagen market place.”
David Evans, Chairman at Collagen Solutions plc commented;
“Since the Company listed on AIM in April 2013, both the board and myself have been actively reviewing acquisition opportunities, and have looked at over 30 opportunities in this time. We are delighted with the acquisitions and are confident that they will be valuing enhancing for shareholders.”
Stewart White, Chief Executive Officer at Collagen Solutions plc commented;
“The creation of Collagen Solutions plc provides the opportunity to grow activities across a number of life science sectors. With the commitment of our board, a skilled management team and an existing customer base in the US and Europe, we believe the company is a compelling value proposition that will enable us to expedite collagen-based products for our customers from development through to manufacture.”