rood blauwe elepsis logo Belegger.nl

Isotis Terug naar discussie overzicht

IsoTis and Integra Agree to Merge for $51 Mil

3 Posts
| Omlaag ↓
  1. had ik maar 9 augustus 2007 21:52
    IsoTis and Integra Agree to Merge for $51 Million or 1.2x Sales

    zie onder: News Shorts
    www.ryortho.com/NEWSSHORTS/volume3/is...

    De grafieken kan ik niet kopiëren maar deze geven duidelijk weer dat IsoTis zichzelf in de voet heeft geschoten door naar de Nasdaq te verhuizen. De gemiddelde waardering voor een derg. overname komt neer op 2.3x revenues. Nog daargelaten dat een branchegenoot die allograft verkoopt 5.8 x revenues.

    By Robin Young
    August 9, 2007

    PIsoTis Inc, which reported a 1% decline in revenues for the June quarter, is recommending to its shareholders that they accept a $7.25 per share offer to sell the company to Integra LifeSciences Corp. The Integra offer represents a 4% premium over IsoTis’ average stock price in July.

    For Integra, this adds the Accell® line of bone void fill products to their extensive line of orthopedic and biologic products.
    For IsoTis, this was perhaps the only way out from between a rock and a hard place.

    The company, which had recently combined all of its disparate shareholders into a single, NASDAQ entity, was counting on a U.S. stock offering to fund its final push to profitability. That fell apart earlier this year due to snags at the FDA (which are being resolved). No capital. No IsoTis.

    When the IPO failed to launch, the company negotiated a $20 million line of credit with Merrill Lynch and Silicon Valley Bank. That credit line required that the firm raise $20 million in new equity. At the end of a long effort, that equity came in the form of a bid from Integra—not from the private equity markets.

    In terms of IsoTis employees, surgeon customers and other stakeholders, Integra offers a broad and complementary line of products and infrastructure. IsoTis’ Accell will now share shelf space with Integra’s dural grafts, dermal regeneration and engineered wound dressings.

    Integra’s purchase price for IsoTis is lower than might have otherwise been expected for IsoTis. As the following table illustrates, companies that sell bone void fill tend to trade at around 2.3x revenues.

    ZIE overzicht op de website

    Until this year IsoTis was posting double-digit revenue growth rates.

    ZIE overzicht op de website

    Other firms selling similar allograft products were reporting, effectively, four down years for every five up years. Only IsoTis was reporting consistently strong year over year revenue growth.

    But IsoTis’ financial realities left management with, really, no option other than to take $7.25 per share in cash. Considering everything, this looks like a fair deal for shareholders and, we suspect, an even fairer deal for IsoTis’ employees and customers. The shareholders get $7.25 per share and IsoTis’ employees and customers get to build a future under Stu Essig’s billion-dollar orthobiologic franchise (aka: Integra LifeSciences).

    Groet,
    hadikmaar
  2. had ik maar 10 augustus 2007 01:09
    FDA Task Force Declares Human Tissue Allograft Safe

    Mogelijk dat dit (enkele dagen oude) nieuws toch wel iets te betekeken kan hebben voor de huisige situatie van IsoTis.

    Als we mogen aannemen dat dit klopt dan moet dit toch een goede zaak zijn voor IsoTis.

    Het hele verhaal te vinden op: www.ryortho.com/NEWSSHORTS/volume3/is...

    FDA Task Force Declares Human Tissue Allograft Safe
    By Robin Young August 1, 2007
    After nearly two years of headlines about donor tissues having been improperly collected and processed, the FDA released a report that concludes that there are no significant industrywide problems in the recovery of human tissues used for transplantation.

    Het hele verhaal dus te lezen op de bovenstaande link.

    The report was issued by FDA's Human Tissue Task Force (HTTF). As part of the task force’s investigation, investigators from FDA’s Office of Regulatory Affairs inspected 153 major human tissue recovery firms between October 2006 and March 2007. While some deviations from the regulations were identified, no major inaccuracies or deficiencies were found that could put tissue recipients at risk.

    Verdere nog de FDA die een overzicht geeft waarmee IsoTis te maken heeft inzake cell and tissue, te weten DBM100, TBM, Cancellous Bone / DynaGraft II Putty & Gel, OrthoBlast II Putty & Paste, Connexus:

    www.accessdata.fda.gov/scripts/cber/C...

    Groet,
    hadikmaar

    Die blijft geloven in een betere afloop als ons nu is voorgehouden.
  3. [verwijderd] 10 augustus 2007 11:05
    quote:

    had ik maar schreef:

    Die blijft geloven in een betere afloop als ons nu is voorgehouden.
    Wellicht bij snelle FDA approval.. Wanneer is de stemming eigenlijk?
3 Posts
|Omhoog ↑

Neem deel aan de discussie

Word nu gratis lid van Belegger.nl

Al abonnee? Log in

Direct naar Forum

Zoek alfabetisch op forum

  1. A
  2. B
  3. C
  4. D
  5. E
  6. F
  7. G
  8. H
  9. I
  10. J
  11. K
  12. L
  13. M
  14. N
  15. O
  16. P
  17. Q
  18. R
  19. S
  20. T
  21. U
  22. V
  23. W
  24. X
  25. Y
  26. Z
Forum # Topics # Posts
Aalberts 466 7.102
AB InBev 2 5.529
Abionyx Pharma 2 29
Ablynx 43 13.356
ABN AMRO 1.582 51.950
ABO-Group 1 22
Acacia Pharma 9 24.692
Accell Group 151 4.132
Accentis 2 267
Accsys Technologies 23 10.807
ACCSYS TECHNOLOGIES PLC 218 11.686
Ackermans & van Haaren 1 192
Adecco 1 1
ADMA Biologics 1 34
Adomos 1 126
AdUX 2 457
Adyen 14 17.782
Aedifica 3 925
Aegon 3.258 323.007
AFC Ajax 538 7.088
Affimed NV 2 6.302
ageas 5.844 109.897
Agfa-Gevaert 14 2.062
Ahold 3.538 74.345
Air France - KLM 1.025 35.250
AIRBUS 1 12
Airspray 511 1.258
Akka Technologies 1 18
AkzoNobel 467 13.048
Alfen 16 25.105
Allfunds Group 4 1.514
Almunda Professionals (vh Novisource) 651 4.251
Alpha Pro Tech 1 17
Alphabet Inc. 1 409
Altice 106 51.198
Alumexx ((Voorheen Phelix (voorheen Inverko)) 8.486 114.826
AM 228 684
Amarin Corporation 1 133
Amerikaanse aandelen 3.837 243.631
AMG 971 134.099
AMS 3 73
Amsterdam Commodities 305 6.740
AMT Holding 199 7.047
Anavex Life Sciences Corp 2 491
Antonov 22.632 153.605
Aperam 92 15.031
Apollo Alternative Assets 1 17
Apple 5 384
Arcadis 252 8.789
Arcelor Mittal 2.034 320.895
Archos 1 1
Arcona Property Fund 1 286
arGEN-X 17 10.342
Aroundtown SA 1 221
Arrowhead Research 5 9.750
Ascencio 1 28
ASIT biotech 2 697
ASMI 4.108 39.564
ASML 1.766 109.555
ASR Nederland 21 4.505
ATAI Life Sciences 1 7
Atenor Group 1 522
Athlon Group 121 176
Atrium European Real Estate 2 199
Auplata 1 55
Avantium 32 13.735
Axsome Therapeutics 1 177
Azelis Group 1 66
Azerion 7 3.439