Astorg Completes Take-Private of Hamilton Thorne and Acquisition of Cook Medical RH
In a significant move that reshapes the fertility and reproductive health landscape, Astorg, a leading private equity firm, has successfully completed two major transactions. The firm finalized the take-private acquisition of Hamilton Thorne Ltd., a renowned provider of fertility and cell biology solutions, and simultaneously acquired Cook Medical’s Assisted Reproductive Technologies (ART) business.
The Acquisitions
The take-private acquisition of Hamilton Thorne involves Astorg purchasing 100% of the company’s issued and outstanding common shares. Shareholders, excluding those who opted to roll over their shares, will receive CAD$2.25 in cash per share. This transaction values Hamilton Thorne at an enterprise value of approximately CAD$388 million, including debt.
Key shareholders, including Daniel Thorne and FAX Capital Corp., have agreed to roll over approximately 21.3 million shares at the transaction price. FAX Capital and its affiliates, representing about 11.5% of the outstanding shares, have also secured an option for an additional US$10 million investment in the newly formed entity.
A New Global Player in Fertility and Reproductive Health
The simultaneous acquisition of Cook Medical’s ART portfolio further strengthens Astorg’s position in the fertility sector. While financial details of this acquisition remain undisclosed, the combination of Hamilton Thorne and Cook ART is expected to create a leading global provider of advanced products and solutions for fertility clinics and researchers worldwide.
The merged entity will offer a comprehensive range of high-quality, innovative, and reliable equipment and consumables. This includes tools for assisted reproductive technologies, cell biology, and related fields. A new brand identity for the combined company is anticipated to launch in 2025, signaling a fresh chapter in the industry.
Strategic Significance and Market Impact
This dual acquisition underscores Astorg’s strategic intent to expand its footprint in the rapidly growing fertility and reproductive health sector. By combining the strengths of Hamilton Thorne and Cook ART, Astorg aims to create a robust platform that addresses the evolving needs of fertility professionals and researchers globally.
Hamilton Thorne, known for its precision instruments, consumables, and software, has long been a trusted partner to fertility clinics and researchers. Its products are designed to enhance productivity, improve outcomes, and drive innovation in ART and related fields. The addition of Cook Medical’s ART portfolio further complements this expertise, bringing a wealth of experience and a strong market presence to the table.
Astorg’s move also highlights the ongoing consolidation in the fertility technology sector. As demand for advanced reproductive health solutions continues to rise, driven by factors such as delayed parenthood and increasing awareness of fertility treatments, the need for integrated and innovative solutions has never been greater. This transaction positions Astorg at the forefront of this trend, equipping it to meet the growing demands of a global market.
Transaction Details and Strategic Implications
The acquisition of Hamilton Thorne was completed through a Canadian statutory plan of arrangement under the Business Corporations Act. The transaction assigns the company an enterprise value of approximately CAD$388 million, including debt. Shareholders, excluding rollover shareholders, will receive CAD$2.25 in cash per share upon completion.
Daniel Thorne and FAX Capital Corp., classified as “Rollover Shareholders,” have agreed to roll over approximately 21.3 million shares at the transaction price. FAX Capital and its affiliated entities, representing about 11.5% of the outstanding shares, have also secured an option for an additional US$10 million investment in the new combined entity.
Hamilton Thorne and Cook ART Integration
The merger of Hamilton Thorne and Cook ART will form a comprehensive provider of high-quality, innovative, and reliable equipment and consumables for the fertility industry, serving clinics and researchers worldwide. A new global ART MedTech company will be created, with a new brand identity expected to launch in 2025.
Astorg’s Strategic Vision
Astorg, with its longstanding reputation for driving growth in healthcare businesses, aims to expand its footprint in the rapidly evolving fertility and reproductive health space. By combining the strengths of Hamilton Thorne and Cook Medical’s ART business, Astorg seeks to create a robust platform that addresses the needs of fertility professionals and researchers globally.
H Hamilton Thorne is recognized globally for its precision instruments, consumables, software, and services that support research, cell biology, and especially Assisted Reproductive Technologies (ART). The company’s products are designed to increase productivity, improve outcomes, and enable innovations in fertility and related fields.
Cook Medical’s ART portfolio complements Hamilton Thorne’s expertise, bringing a wealth of experience and a strong market presence to the table. The integration of these two entities is expected to further solidify Astorg’s position as a leader in the fertility technology sector.
Conclusion
The acquisition of Hamilton Thorne by Astorg represents a significant step forward in the fertility and reproductive health industry. By combining Hamilton Thorne’s expertise in precision instruments and software with Cook Medical’s ART portfolio, Astorg is well-positioned to create a global leader in ART MedTech. This merger not only enhances the capabilities of both companies but also aligns with Astorg’s strategic vision to expand its footprint in the rapidly growing fertility sector. The integration is expected to drive innovation, improve outcomes for fertility clinics and researchers, and solidify Astorg’s position as a key player in the industry.
Frequently Asked Questions
What is the significance of the Hamilton Thorne acquisition by Astorg?
The acquisition of Hamilton Thorne by Astorg is a strategic move to create a comprehensive provider of innovative fertility and reproductive health solutions. It combines Hamilton Thorne’s expertise with Cook Medical’s ART portfolio, aiming to form a global leader in ART MedTech.
How will the merger affect customers and clinics?
The merger is expected to enhance the range of products and services available to fertility clinics and researchers. The combined entity will offer high-quality, innovative solutions designed to improve productivity and outcomes in ART.
What role does Astorg play in this acquisition?
Astorg, a leading private equity firm, aims to drive growth in the fertility and reproductive health space. By acquiring Hamilton Thorne and integrating it with Cook Medical’s ART business, Astorg is building a robust platform to address the needs of fertility professionals globally.
Will the products and services change for existing customers?
While the integration is expected to enhance the offerings, existing customers can expect continued support for Hamilton Thorne’s products and services. The combined entity will focus on innovation and improving outcomes, with no immediate changes to existing product lines.
When will the new brand identity be launched?
The new global brand identity for the combined entity is expected to launch in 2025. This will reflect the merged strengths of Hamilton Thorne and Cook ART under Astorg’s leadership.
