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- Trajan Group (TRJ) completes its acquisition of California-based blood microsampling devices company, Neoteryx, LLC
- Neoteryx parent company Farrona LLC, will be issued over 4 million ordinary fully paid shares in Trajan, along with an additional cash payment of US$5.05 million (A$6.96 million)
- Trajan says while the acquisition will not be immediately EBITDA accretive, it expects to see a meaningful acceleration of the micro sampling portfolio’s contribution to both Trajan’s top line and EBITDA growth over the next three to five years
- Trajan Group is up 1.51 per cent, trading at $4.03 at 11:15 am AEDT
Trajan Group (TRJ) has completed its acquisition of California-based blood microsampling devices company, Neoteryx, LLC.
Trajan acquired 100 per cent of shares in Neoteryx, along with the remaining global operations, through a share swap and cash payment arrangement.
Farrona LLC, the parent company of Neoteryx, will be issued 4,659,843 ordinary fully paid shares in Trajan, along with an additional cash payment of US$5.05 million (around A$6.96 million) to be funded through debt.
The majority shareholder in Farrona is Fasha Mahjoor, the Founder and CEO of Neoteryx.
Stephen Tomisich, Founder and CEO of Trajan, said the transaction marks the moment Trajan changed gear in driving the global commercialisation and adoption of microsampling at scale.
“Remote sampling is an essential element in progressing personalised, preventative and data-based healthcare,” Mr Tomisich said.
“We are building our device portfolio and the marriage with Neoteryx brings together the hemaPEN format, Mitra, VAMS and soon our micro-biopsy device for skin sampling.”
The company said while the acquisition will not be immediately EBITDA accretive, it expects to see a meaningful acceleration of the microsampling portfolio’s contribution to both Trajan’s top line and EBITDA growth over the next three to five years.
Mr Tomisich will assume an acting CEO position following the acquisition, with the current Neoteryx leadership team reporting directly to him.
Trajan Group was up 1.51 per cent, trading at $4.03 at 11:15 am AEDT.
