WESTWOOD, Mass., April 26, 2023 [GlobeNewswire]
Corza Medical announced today that it has entered into a definitive agreement with a subsidiary of Takeda Pharmaceuticals Company (TSE:4502/NYSE:TAK) (“Takeda”) to acquire the TachoSil manufacturing operations in Linz, Austria. Corza Medical had previously acquired the commercial product rights for TachoSil, a best-in-class surgical patch trusted by medical professionals worldwide, in January 2021. Corza Medical shares Takeda’s commitment to patient care and has the experience and resources to continue investing in TachoSil for the benefit of patients.
The acquisition of the TachoSil manufacturing operations will benefit customers and employees, as TachoSil’s experienced manufacturing teams and extensive production knowledge will be complemented by Corza Medical’s surgical focus, global commercial expertise, entrepreneurial culture, and infrastructure to scale for significant growth.
”In the last two years, we’ve significantly expanded the number of surgeons using TachoSil worldwide. With this acquisition of the TachoSil production facility in Linz, we’ve now assembled a critical piece of our growing Biosurgery business to tightly integrate customer demand with production fulfillment to provide an exceptional service experience,” said Gregory T. Lucier, Corza Medical Executive Chairman.
Corza Medical’s exclusive ownership of TachoSil manufacturing will deliver exceptional value to customers by seamlessly combining manufacturing and quality with Corza Medical’s commercial excellence engine; it will also accelerate enhanced service levels and support by directly controlling manufacturing priorities.
“We look forward to welcoming the Takeda TachoSil operations team to Corza Medical to support our investment in expanding manufacturing capacity, testing systems, and R&D facilities to develop new Biosurgery offerings,” said Tom Testa, Corza Medical Chief Executive Officer. “This acquisition in Linz highlights our commitment to further our presence in Europe and to better serve our customers with an integrated team.”
Corza Medical is a portfolio company of GTCR, a leading private equity firm, which helped create and build the business alongside Gregory T. Lucier. In January 2021, GTCR and Lucier simultaneously acquired and merged Surgical Specialties Corporation and the TachoSil carve-out from Takeda Pharmaceutical. Corza further expanded its surgical platform into the ophthalmic surgery sector with the add-on acquisitions of Katena Products and Barron Precision Instruments.
The transaction, which is subject to the satisfaction of certain anti-trust and FDI customary regulatory approvals, is expected to close by the first quarter of 2024.