On August 31, 2023, Coloplast announced the completion of the acquisition of Kerecis, after receiving approval from all relevant authorities and reaching a shareholder acceptance level of 100 percent. The two companies had previously announced the agreement to acquire Kerecis on July 7, 2023, for up to $1.3 billion, of which $1.2 billion is an upfront cash payment. The terms of the transaction and the financial assumptions stated in Coloplast's initial stock exchange announcement regarding the acquisition of Kerecis remain unchanged. The equity capital raise related to the financing of the acquisition was completed by Coloplast on August 30, 2023.

Kerecis is an innovative, fast-growing company in the biologics wound care segment with a strong commercial presence in the U.S. The company has developed and patented a clinically differentiated technology based on intact fish skin. The fish-skin technology is minimally processed, sustainable, and scalable. Backed by compelling clinical evidence, the technology has already been used to treat tens of thousands of patients. With the acquisition of Kerecis, Coloplast obtains a long-term growth business with strong profitability expansion potential, well-positioned for long-term value creation

The Wilson Sonsini Goodrich & Rosati team advising Kerecis on the transaction includes:

Corporate
Mark Holloway
Mike Labriola
Ross Davies
James Foster
Sarahanne Jackson
Erica Wu

Tax
Sarah Lane

National Security
Stephen Heifetz
Mike Casey
Anne Seymour
Nimit Dhir
Jonathan Davey

Antitrust
Beau Buffier
Kimberley Biagioli
Noora Bayrami

Technology Transactions
Andrew Poling
Keien Williams

Employee Benefits and Compensation
Matthew Norgard

Employment
Martin Luff

Privacy and Cybersecurity
Matthew Staples
Daniel Chen
Michael O’Brien
Diya Jajal

FDA Regulatory
Paul Gadiock

LOGOS Legal Services advised Kerecis on Icelandic law matters.

For more information, please see the companies’ corresponding press releases on the completion of the acquisition and the initial agreement.