February 13, 2024
Translink Corporate Finance in Denmark acted as the exclusive advisor to the shareholders of Denmark-based Vivostat on the sale to Principal Technologies. The transaction is slated to be completed on or before March 15, 2024, pending necessary approvals including those from the TSX Venture Exchange (TSX-V).
Vivostat’s groundbreaking technology, utilised in over 200,000 surgical procedures, boasts peer-reviewed evidence showcasing zero rejection and infection rates. With a profitable track record spanning three years, Vivostat operates with a robust 60% gross profit margin. Despite its success, Vivostat is currently marketed in only six European countries, representing a fraction of its potential market.
Principal Technologies aims to leverage its resources and global expertise to propel Vivostat’s growth trajectory. The company plans to intensify sales and marketing efforts in the existing European Union markets while strategically expanding into other licensed territories within the EU.
Jerry Trent, CEO of Principal Technologies, expressed enthusiasm about the acquisition, stating, “This purchase marks a significant milestone for Principal as we enter the healthcare sector. Vivostat aligns perfectly with our vision, offering a profitable business model and unmatched products with global potential. We are committed to maximising Vivostat’s reach and driving substantial growth.”
Sven Lange, CEO of Vivostat, echoed Trent’s sentiments, stating, “Joining forces with Principal opens up exciting opportunities for Vivostat to expand its global footprint. We are eager to leverage Principal’s support to accelerate our sales and pursue international licensing agreements.”
The acquisition is subject to customary closing conditions and regulatory approvals, including TSX-V approval. Additionally, Principal anticipates a concurrent non-brokered equity offering to fund the transaction.
Upon completion of the acquisition, Vivostat will operate as a subsidiary of Principal Technologies Inc. The Company looks forward to unlocking the full potential of Vivostat’s innovative technology and driving value for shareholders.
Contact our Team Members advising in this transaction:
Translink Corporate Finance is an independent partnership of firms dedicated to Corporate Finance and M&A advisory services through over 36 offices in the key markets in Europe, North and South America, Asia, Australia, and Africa. Translink has been successful in advising clients on thousands of transactions since its founding in 1972 and Translink offices have acted as advisers in over 100 M&A projects during the last twelve months.
Translink Corporate Finance Denmark has – with over 25 years of experience – a strong position in the Danish M&A-market, especially in the smaller and medium-sized companies. The company has been a part of Translink Corporate Finance for almost 20 years.
Jens Borelli-Kjær
