Misonix, Inc., a Farmingdale, NY-based medical device platform, has entered an agreement to acquire Solsys Medical, LLC, a privately held regenerative medical company and operates as a wound healing platform. As per the reports, the deal is valued at around USD97 million. With this acquisition, Solsys substantially broadens Misonix’s addressable market through wound care solutions that are complementary to its existing products. Solsys offers an advanced wound care product under the brand name TheraSkin, a cellular and tissue-based product for regenerative wound healing solution. The solution is designed to assist care providers to treat difficult-to-heal chronic wounds.
Ahead of this agreement, Misonix President and Chief Executive Officer Stavros Vizirgianakis stated that “We have known the team at Solsys for over two years and have been impressed in their ability to grow their revenue meaningfully during that time. According to him, the acquisition of Solsys Medical is a transformative event for Misonix and represents a strategically and financially compelling growth opportunity for the Company and for our shareholders. Solsys and its leading wound treatment application, TheraSkin, is highly complementary to Misonix’s existing wound debridement solution, SonicOne. As a result, the combined entity will be ideally positioned to establish a new standard of care in the growing chronic wound care market through what we view as the best-in-class wound treatment solution. Stavros further noted that the Misonix-Solsys differentiated wound care treatment is supported by extensive clinical data that demonstrates the positive impact to critical aspects of the wound healing process that lead to improved patient outcomes, as well as clinical efficacy and a strong economic value proposition for hospitals.
As the terms of the agreement, Misonix will issue nearly 5.7 million new shares to Solsys unitholders. It is then anticipated that Misonix shareholders without more ado, prior to the closing, will own 64 percent of the combined entity, while Solsys unitholders will own 36 percent. Misonix specializes in the development and commercialization of ultrasonic surgical devices for neurosurgical, spinal, and advanced wound care.