Inogen, Inc. completed the acquisition of Physio-Assist SAS from Adrien Mithalal, Jean-Sébastien Lantz, Anne Reiser, CAAP Creation, Societe De Capital Risque Provencale Et Corse, Region Sud Investissement, Mérieux Participations 2, Relyens Innovation Santé and certain holders of exercisable securities for $35.43 million.
September 14, 2023
Share
Inogen, Inc. (NasdaqGS:INGN) signed an agreement to acquire Physio-Assist SAS for $45 million on July 10, 2023.The transaction, which has been approved by the Board of Directors of Inogen and Physio-Assist, is subject to the satisfaction of customary closing conditions, including Foreign Investment Authority approval from the French Ministry of Economy. The closing of the transaction is subject to certain customary closing conditions. The transaction is expected to close in the fourth quarter of 2023.
Inogen, Inc. (NasdaqGS:INGN) completed the acquisition of Physio-Assist SAS from Adrien Mithalal, Jean-Sébastien Lantz, Anne Reiser, CAAP Creation, Societe De Capital Risque Provencale Et Corse, Region Sud Investissement, Mérieux Participations 2, Relyens Innovation Santé and certain holders of exercisable securities for $35.43 million on September 14, 2023. Pursuant to the terms of the Share Purchase Agreement, Inogen paid the Sellers approximately $32 million in cash at closing subject to adjustment for the estimated net debt amount of Physio-Assist SAS (subject to potential adjustment after closing following confirmation of the actual net debt amount and target working capital amount) and may pay up to either an additional $13 million in cash or $11 million in cash (minus related development costs) depending upon the achievement of one of two alternative milestones related to the Simeox Airway Clearance System?s receipt of FDA de novo authorization or 510(k) clearance within four years of the date of the closing of the transaction.Taylor Wessing france acted as legal advisor to Inogen, Inc. (NasdaqGS:INGN).FAIRLIGHT Avocates acted as legal Advisor to Inogen, Inc. (NasdaqGS:INGN).
Inogen, Inc. is a medical technology company offering respiratory products for use in the homecare setting. The Company supports patient respiratory care by developing, manufacturing, and marketing portable oxygen concentrators used to deliver supplemental long-term oxygen therapy to patients suffering from chronic respiratory conditions. Its Inogen One and Inogen Rove systems concentrate the air around the patient to offer a source of supplemental oxygen with a battery and can be plugged into an outlet when at home, in a car, or in a public place with outlets available. Its Inogen One systems reduces patients' reliance on stationary concentrators and oxygen compressed gas tanks. Its Inogen Connect is a wireless connectivity platform for the Inogen One G4, Inogen One G5 and Rove 6 consisting of a front-end mobile application for use by long-term oxygen therapy users and a back-end database portal for use by homecare providers. It also offers Simeox, which is an airway clearance device.
Inogen, Inc. completed the acquisition of Physio-Assist SAS from Adrien Mithalal, Jean-Sébastien Lantz, Anne Reiser, CAAP Creation, Societe De Capital Risque Provencale Et Corse, Region Sud Investissement, Mérieux Participations 2, Relyens Innovation Santé and certain holders of exercisable securities for $35.43 million.