Biote to Purchase Asteria Health
17 Enero 2024 - 3:05PM
Business Wire
Strategic and accretive transaction enables
vertical integration of hormone product manufacturing
biote Corp. (NASDAQ: BTMD) (“Biote” or the “Company”), a
leading solutions provider in preventive health care through the
delivery of personalized hormone optimization and therapeutic
wellness, today announced a definitive agreement to acquire F.H.
Investments, Inc., d/b/a Asteria Health, a privately held 503B
manufacturer of compounded bioidentical hormones. The company
operates an FDA-registered 503B outsourcing facility in Birmingham,
Alabama and currently supports Biote-certified practitioners and
Biote-partnered clinics in numerous U.S. states.
Through this transaction, Biote is strengthening the Company’s
control over its supply chain and enhancing efficiency.
Additionally, Asteria Health provides Biote with expertise in 503B
manufacturing, enabling longer-term development of innovative
therapeutic wellness products. Biote plans to phase in
manufacturing from Asteria Health. Because Asteria Health is
currently a supplier to Biote-certified practitioners, there is
expected to be minimal near-term revenue impact to Biote from the
transaction.
Terry Weber, Biote Chief Executive Officer, commented, “We are
pleased to announce an agreement to acquire Asteria Health, and we
welcome their talented and dedicated team to Biote. This strategic
transaction expands and strengthens Biote’s capabilities by
enabling the vertical integration of our manufacturing and
providing direct control over our pharmacokinetic research efforts.
As we insource manufacturing, we anticipate improvement to our
margin profile. We also see a longer-term opportunity to leverage
Asteria Health’s product development expertise to expand our
offerings with therapeutic wellness products for Biote-certified
practitioners.”
Bill Fixler, PharmD, President of Asteria Health, said, “Asteria
Health is proud of our longstanding relationship with Biote, an
established leader in hormone replacement education and training.
Both Asteria Health and Biote share an unwavering commitment to
promoting patient health and evidence-based therapeutic wellness,
and we are delighted to join Biote to further this mission.”
Dr. Fixler brings to Biote more than two decades of compounding
and specialty pharmacy experience, with particular expertise in
manufacturing compliance and product formulation.
Transaction Terms
Under the terms of the acquisition agreement, the purchase price
is $8.5 million, subject to customary adjustments. Asteria Health
shareholders are eligible to receive up to an additional $500,000
if certain production metrics are achieved by April 1, 2024. Biote
will fund the transaction with cash from its balance sheet.
The acquisition is subject to customary closing conditions, with
closing anticipated to occur in the first quarter of 2024.
Truist Securities served as financial advisor to Biote.
About Biote
Biote is transforming healthy aging through innovative,
personalized hormone optimization and therapeutic wellness
solutions delivered by Biote-certified medical providers. Biote
trains practitioners to identify and treat early indicators of
aging conditions, an underserved global market, providing
affordable symptom relief for patients and driving clinic success
for practitioners.
Forward-Looking Statements
This press release contains certain forward-looking statements
within the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended. Some of the forward-looking statements can be identified
by the use of forward-looking words. Statements that are not
historical in nature, including the words “may,” “can,” “should,”
“will,” “estimate,” “plan,” “project,” “forecast,” “intend,”
“expect,” “hope,” “anticipate,” “believe,” “seek,” “target,”
“continue,” “could,” “might,” “ongoing,” “potential,” “predict,”
“would” and other similar expressions, are intended to identify
forward-looking statements. Forward-looking statements are
predictions, projections and other statements about future events
that are based on current expectations and assumptions and, as a
result, are subject to risks and uncertainties. Many factors could
cause actual results or developments to differ materially from
those expressed or implied by such forward-looking statements,
including but not limited to: the potential that our acquisition of
Asteria Health is not consummated; the success of our dietary
supplements to attain significant market acceptance among clinics,
practitioners and their patients; our customers’ reliance on
certain third parties to support the manufacturing of bio-identical
hormones for prescribers; our and our customers’ sensitivity to
regulatory, economic, environmental and competitive conditions in
certain geographic regions; our ability to increase the use by
practitioners and clinics of the Biote Method at the rate that we
anticipate or at all; our ability to grow our business; the
significant competition we face in our industry; the impact of
strategic acquisitions and the implementation of our growth
strategies; our limited operating history; our ability to protect
our intellectual property; the heavy regulatory oversight in our
industry; changes in applicable laws or regulations; the inability
to profitably expand in existing markets and into new markets; the
possibility that we may be adversely impacted by other economic,
business and/or competitive factors, including recent bank
failures; and future exchange and interest rates. The foregoing
list of factors is not exhaustive. You should carefully consider
the risks and uncertainties described in the “Risk Factors” section
of the Biote’s Quarterly Report on Form 10-Q for the fiscal quarter
ended September 30, 2023 and other documents filed by Biote from
time to time with the Securities and Exchange Commission. These
filings identify and address other important risks and
uncertainties that could cause actual events and results to differ
materially from those contained in the forward-looking statements.
Forward-looking statements speak only as of the date they are made.
Readers are cautioned not to put undue reliance on forward-looking
statements, and Biote assumes no obligation and does not intend to
update or revise these forward-looking statements, whether as a
result of new information, future events, or otherwise. Biote does
not give any assurance that it will achieve its expectations.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240117486263/en/
Investor Relations: Eric Prouty AdvisIRy Partners
eric.prouty@advisiry.com
Media: Press@biote.com
Biote (NASDAQ:BTMD)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Biote (NASDAQ:BTMD)
Gráfica de Acción Histórica
De May 2023 a May 2024