Misonix, Inc., (NASDAQ: MSON) an international surgical device manufacturer, has acquired the pharmaceutical company Solsys Medical, LLC. The target company markets TheraSkin, a cellular and tissue-based product for regenerative wound healing, especially for difficult-to-heal chronic wounds. TheraSkin has been applied to more than 100,000 wounds supported by multiple clinical studies.
The deal will cost Misonix a total of $117 million, comprised of $97 million in stock plus Solsys’ $20 million outstanding secured debt. As part of the deal, Misonix will issue 5.7 million new shares. Upon closing, it will own 64% of the company and Solsys unitholders will own 36%.
Misonix hopes to get a wider market reach out of this transaction, seizing on the opportunity to address the domestic wound biologics market, which is valued at approximately $700 million annually.
The combined company is expected to generate roughly $80 million in sales in 2020.