XVIVO Perfusion AB (publ) (“XVIVO”) has today completed the acquisition of all shares in the Dutch medtech company Organ Assist B.V. (“Organ Assist”) that XVIVO announced on 23 September 2020.
On 23 September 2020, XVIVO announced that the company had entered into an agreement to acquire all shares in Organ Assist. The completion of the acquisition was conditional upon XVIVO obtaining financing for the purchase price of up to EUR 24 million through the new issue of shares that the company successfully carried out later the same day. XVIVO has today paid the initial cash purchase price of EUR 20 million and completed the acquisition of Organ Assist. Accordingly, Organ Assist will be consolidated into XVIVO as of 1 October 2020.
Pursuant to the share purchase agreement, two earn-out payments of up to EUR 2 million (each) may become payable depending on the achievement of sales targets in 2021 and the regulatory approval in the US for Organ Assist’s kidney device, respectively.
For further information on the acquisition and Organ Assist, please see the press release that XVIVO published on 23 September 2020.
October 1, 2020
Gothenburg
XVIVO Perfusion AB (publ)