Avista Healthcare Public Acquisition Corp., Organogenesis set combination

Avista Healthcare Public Acquisition Corp and Organogenesis announced that they have entered into a definitive merger agreement, under which Organogenesis will become a wholly owned subsidiary of AHPAC. Affiliates of Avista Capital Partners have agreed to invest $92M in the combined company in conjunction with the transaction. Following the closing of the transaction, Organogenesis will be listed on the Nasdaq Stock Exchange under the ticker symbol (ORGO) The combined company will have an anticipated initial enterprise value of approximately $673M. Organogenesis’ mission is to provide integrated healing solutions that improve medical outcomes and the lives of patients, while lowering the overall cost of care. Organogenesis’ product portfolio is designed to treat a variety of patients with repair and regenerative needs across the continuum of care. Organogenesis has over 600 employees worldwide and is led by a management team of with more than 75 years of collective regenerative medicine experience. This transaction will be funded through a combination of cash, stock, and rollover debt financing. Organogenesis’ key existing shareholders will remain committed long-term partners by rolling over their equity into the combined company. The boards of directors of AHPAC and the company have unanimously approved the proposed transaction and shareholders of the company representing approximately 89% of the outstanding stock of the company have agreed to support approval of the proposed transaction in any consent solicitation or shareholders’ meeting in connection with the transaction. Completion of the proposed transaction, which is expected before the end of the year, is subject to customary and other closing conditions, including regulatory approvals and receipt of approvals from AHPAC’s shareholders.

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