No truce for Biosynex. The medtech, which has been successful thanks to its self-tests, has embarked on a vast external growth plan, which results in a takeover offer for Theradiag. First shareholder of the company specializing in traditional diagnostic tests in vitro with 25.07% of the capital and 25.16% of the voting rights, Biosynex launches an attack on the 74.18% still in circulation (and 74.29% of the voting rights) within the framework of an offer public purchase (OPA).
For this, it offers 2.30 euros per share, which corresponds to a premium of 58.6% compared to the last price before the announcement and values Theradiag at 30 million euros. ” Theradiag has approximately 35 million euros in loss carryforwards, i.e. a potential saving of nearly 9 million euros in taxes (at the rate of 25%) “, calculates the analyst from the Portzamparc cabinet.
No compulsory withdrawal
Biosynex does not intend to request a squeeze-out following the takeover bid. ” A public buyout offer could however be launched at a different price in the medium term, knowing that in the meantime the security risks being illiquid, in our opinion with regard to capitalization and the limited free float post-operation “says Portzamparc. On the stock market, the Theradiag title is aligned with the offer price, ie 2.30 euros, while the Biosynex share climbs by 5.6%, to 13.67 euros.
The market welcomes the relevant use of its cash in order to diversify. Pell-even, the medtech acquired in recent years ProciseDX and Avalun, both specialized in bedside diagnostics, took a 75% stake in BHR, thus setting up shop on the other side of the Channel, it took over Bigix Pharma in Italy to strengthen its pharmacy division and acquired Para’Kito, the European leader in the prevention and treatment of mosquito bites with 100% natural formulations. With Theradiag, Biosynex positions itself as a key player in theranostics, a diagnostic niche allowing the implementation of a personalized treatment for each patient, by preventing resistance to certain drugs.
PC