Health Care Company United Therapeutics Announces Acquisition of Miromatrix Medical
United Therapeutics (NASDAQ:UTHR) has announced an acquisition of Miromatrix Medical (NASDAQ:MIRO) that is expected to be completed in Q4 of 2023.
Under the terms of the agreement, United Therapeutics has agreed to give Miromatrix Medical $91.00 million in cash in exchange for MIRO stock.
About The Companies Involved
United Therapeutics specializes in drug development for pulmonary arterial hypertension, a rare and progressive disease marked by abnormally high blood pressure in the arteries of the lungs. The company's therapies for PAH largely focus on the prostacyclin pathway, and many of its treatments are based on the same molecule, treprostinil.
Miromatrix Medical Inc is a life sciences company pioneering a novel technology for bioengineering fully transplantable organs to help save and improve patients' lives. Its pipeline products include; MiroliverELAP is External Liver Assist Product and is designed to provide liver dialysis for acute liver failure patients, Mirokidney is fully implantable bioengineered kidney intended to treat patients with end-stage renal disease, Miroliver is fully implantable bioengineered liver intended to treat patients with acute and chronic liver failure, Miroheart, Mirolung, and Miropancreas.
How An Acquisition Works
An acquisition is when one company, called the acquiring company, buys most or all of another company's, or target company's, shares to gain ownership. Buying more than 50% of a company's stock allows the the acquirer to make decisions without the approval of the company's shareholders.
An acquisition can potentially lead to a merger with the parent company, which makes it similar to a merger. This is why the two terms are commonly grouped together as mergers and acquisitions (M&A). However, in a merger, the leadership & operations of both companies usually change dramatically, while during an acquisition this is less likely to happen.
Make sure to follow our mergers & acquisitions calendar to stay-up-to-date on the most recent M&A deals.
This article was generated by Benzinga's automated content engine and reviewed by an editor.