subslover
1 week ago
Venus Concept Announces Definitive Agreement to Sell Venus Hair Business for $20 Million
TORONTO, June 06, 2025 (GLOBE NEWSWIRE) -- Venus Concept Inc. (“Venus Concept” or the “Company”) (NASDAQ: VERO), a global medical aesthetic technology leader, announced today it has entered into a definitive agreement to sell its Venus Hair business to MHG Co. Ltd (“Meta Healthcare Group”) in an all-cash transaction valued at $20 million, subject to a customary working capital adjustment. The net proceeds from the transaction, once completed, will enhance the Company’s balance sheet and financial condition and provide valuable capital to fund strategic growth initiatives.
“We are pleased to announce one outcome of our evaluation of strategic alternatives to maximize shareholder value,” said Rajiv De Silva, Chief Executive Officer of Venus Concept. “Meta Healthcare Group is the ideal acquirer of the Venus Hair business in terms of its capabilities in the aesthetic medical field, including its presence in the hair transplant market, as well as its strategic investments. Importantly, we believe this transaction strengthens Venus Concept by allowing us to focus on our global medical aesthetics business, which we expect will improve revenue growth, lower operating expenses, enhance the cash flow profile of the business and accelerate the path to long-term, sustainable profitability and growth. We are committed to ensuring a smooth transition for our employees, customers and other stakeholders, and we are confident Meta Healthcare Group will provide the strategic investment and resources needed to maximize the global addressable markets for the ARTAS and NeoGraft technologies.”
“We are excited to welcome the Venus Hair business to our diversified portfolio of private-brand products focused on medical devices, pharmaceuticals and cosmetics,” said Soohyun Kim, Chief Executive Officer of Meta Healthcare Group. “We believe the ARTAS and NeoGraft technologies represent differentiated solutions, addressing a large market serving patients in Asia, Europe and North America. The customer and brand loyalty for these technologies is impressive and we look forward to leveraging the strong relationships Venus has developed in support of their Hair business. Importantly, this acquisition not only aligns with our goal of expanding our hair loss-related business areas, such as hair loss care products and hair transplant surgical devices, but it will also enhance our R&D and manufacturing capabilities as well.”
Under the definitive agreement, Meta Healthcare Group will acquire Meta Robotics LLC, a newly formed subsidiary of Venus Concept, containing the Company’s portfolio of hair restoration and hair transplant technologies, related equipment, services and assets, including intellectual property relating to ARTAS and NeoGraft. Meta Healthcare Group will grant a perpetual, royalty-free, worldwide license to Venus Concept with respect to a subset of transferred patents. Additionally, Meta Healthcare Group will assume the Company’s manufacturing and research and development facility in San Jose, California, as well as the rights to manufacture NeoGraft.
The transaction is expected to close in the third quarter of 2025, subject to the satisfaction or waiver of certain closing conditions, including an internal reorganization of the Hair business within Meta Robotics LLC. Revenue from the sale of ARTAS and NeoGraft systems, procedure kits and warranty revenue totaled approximately $12.5 million in fiscal year 2024. Cash used in operations related to Venus Concept’s hair restoration and hair transplant businesses totaled approximately $6.7 million in fiscal year 2024 based on management estimates. The Company will file a Current Report on Form 8-K with the United States Securities and Exchange Commission containing additional information regarding the transaction.
The Company intends to continue its ongoing evaluation of strategic alternatives to maximize shareholder value.
Canaccord Genuity is serving as financial advisor and Dorsey & Whitney LLP is serving as legal counsel to Venus Concept on the transaction. Fredrikson & Byron P.A. is serving as U.S. legal counsel and Bae, Kim & Lee LLC is serving as Korea legal counsel to MHG Co., Ltd. on the transaction.
About Meta Healthcare Group
Meta Healthcare Group was established in February 2021 and is headquartered in Seoul, South Korea. As a leading MedTech company specializing in aesthetic medicine, MHG operates as a business holding company that develops and manages top-tier clinic brands across various aesthetic medical fields.
Meta Healthcare Group owns METAPHARM Co., Ltd, a company dedicated to the research, development, and manufacturing of medical devices, as well as Techlabs Co., Ltd, a medical marketing platform provider
subslover
1 week ago
Venus Concept Announces Definitive Agreement to Sell Venus Hair Business for $20 Million
TORONTO, June 06, 2025 (GLOBE NEWSWIRE) -- Venus Concept Inc. (“Venus Concept” or the “Company”) (NASDAQ: VERO), a global medical aesthetic technology leader, announced today it has entered into a definitive agreement to sell its Venus Hair business to MHG Co. Ltd (“Meta Healthcare Group”) in an all-cash transaction valued at $20 million, subject to a customary working capital adjustment. The net proceeds from the transaction, once completed, will enhance the Company’s balance sheet and financial condition and provide valuable capital to fund strategic growth initiatives.
“We are pleased to announce one outcome of our evaluation of strategic alternatives to maximize shareholder value,” said Rajiv De Silva, Chief Executive Officer of Venus Concept. “Meta Healthcare Group is the ideal acquirer of the Venus Hair business in terms of its capabilities in the aesthetic medical field, including its presence in the hair transplant market, as well as its strategic investments. Importantly, we believe this transaction strengthens Venus Concept by allowing us to focus on our global medical aesthetics business, which we expect will improve revenue growth, lower operating expenses, enhance the cash flow profile of the business and accelerate the path to long-term, sustainable profitability and growth. We are committed to ensuring a smooth transition for our employees, customers and other stakeholders, and we are confident Meta Healthcare Group will provide the strategic investment and resources needed to maximize the global addressable markets for the ARTAS and NeoGraft technologies.”
“We are excited to welcome the Venus Hair business to our diversified portfolio of private-brand products focused on medical devices, pharmaceuticals and cosmetics,” said Soohyun Kim, Chief Executive Officer of Meta Healthcare Group. “We believe the ARTAS and NeoGraft technologies represent differentiated solutions, addressing a large market serving patients in Asia, Europe and North America. The customer and brand loyalty for these technologies is impressive and we look forward to leveraging the strong relationships Venus has developed in support of their Hair business. Importantly, this acquisition not only aligns with our goal of expanding our hair loss-related business areas, such as hair loss care products and hair transplant surgical devices, but it will also enhance our R&D and manufacturing capabilities as well.”
Under the definitive agreement, Meta Healthcare Group will acquire Meta Robotics LLC, a newly formed subsidiary of Venus Concept, containing the Company’s portfolio of hair restoration and hair transplant technologies, related equipment, services and assets, including intellectual property relating to ARTAS and NeoGraft. Meta Healthcare Group will grant a perpetual, royalty-free, worldwide license to Venus Concept with respect to a subset of transferred patents. Additionally, Meta Healthcare Group will assume the Company’s manufacturing and research and development facility in San Jose, California, as well as the rights to manufacture NeoGraft.
The transaction is expected to close in the third quarter of 2025, subject to the satisfaction or waiver of certain closing conditions, including an internal reorganization of the Hair business within Meta Robotics LLC. Revenue from the sale of ARTAS and NeoGraft systems, procedure kits and warranty revenue totaled approximately $12.5 million in fiscal year 2024. Cash used in operations related to Venus Concept’s hair restoration and hair transplant businesses totaled approximately $6.7 million in fiscal year 2024 based on management estimates. The Company will file a Current Report on Form 8-K with the United States Securities and Exchange Commission containing additional information regarding the transaction.
The Company intends to continue its ongoing evaluation of strategic alternatives to maximize shareholder value.
Canaccord Genuity is serving as financial advisor and Dorsey & Whitney LLP is serving as legal counsel to Venus Concept on the transaction. Fredrikson & Byron P.A. is serving as U.S. legal counsel and Bae, Kim & Lee LLC is serving as Korea legal counsel to MHG Co., Ltd. on the transaction.
About Meta Healthcare Group
Meta Healthcare Group was established in February 2021 and is headquartered in Seoul, South Korea. As a leading MedTech company specializing in aesthetic medicine, MHG operates as a business holding company that develops and manages top-tier clinic brands across various aesthetic medical fields.
Meta Healthcare Group owns METAPHARM Co., Ltd, a company dedicated to the research, development, and manufacturing of medical devices, as well as Techlabs Co., Ltd, a medical marketing platform provider
subslover
2 months ago
Venus Concept Announces $1.1 Million Registered Direct Offering of Common Stock Priced At-The-Market Under Nasdaq Rules
TORONTO, April 09, 2025 (GLOBE NEWSWIRE) -- Venus Concept Inc. (“Venus Concept” or the “Company”) (NASDAQ: VERO), a global medical aesthetic technology leader, today announced that it has entered into definitive agreements for the purchase and sale of 328,573 shares of common stock at a purchase price of $3.50 per share in a registered direct offering priced at-the-market under Nasdaq rules. The closing of the offering is expected to occur on or about April 10, 2025, subject to the satisfaction of customary closing conditions.
H.C. Wainwright & Co. is acting as the exclusive placement agent for the offering.
The gross proceeds to the Company from the offering are expected to be approximately $1.1 million, before deducting placement agent fees and other offering expenses payable by the Company. The Company intends to use the net proceeds from the offering for general corporate purposes.
The shares of common stock described above are being offered by the Company pursuant to a “shelf” registration statement on Form S-3 (File No. 333-282811) that was declared effective by the Securities and Exchange Commission (the “SEC”) on November 1, 2024. The offering of the shares of common stock is being made only by means of a prospectus, including a prospectus supplement, forming a part of the effective registration statement. A final prospectus supplement and accompanying prospectus relating to the registered direct offering will be filed with the SEC. Electronic copies of the final prospectus supplement and accompanying prospectus may be obtained, when available, on the SEC’s website at http://www.sec.gov or by contacting H.C. Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York, New York 10022, by phone at (212) 856-5711 or e-mail at placements@hcwco.com.
This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such
subslover
9 months ago
On the maturity date of the Bridge Financing, the Loan Parties are obligated to make a payment equal to all unpaid principal and accrued interest. The Loan and Security Agreement also provides that all present and future indebtedness and the obligations of the Borrower to Madryn shall be secured by a priority security interest in all real and personal property collateral of the Loan Parties.
The initial drawdown under the Loan and Security Agreement occurred on April 23, 2024, when the Lenders agreed to provide the Borrower with bridge financing in the form of a term loan in the principal amount of $2,237,906.85.
The second drawdown under the Loan and Security Agreement occurred on July 26, 2024, when the Lenders agreed to provide the Borrower with a subsequent drawdown under the Loan and Security Agreement in the principal amount of $1,000,000.
On September 11, 2024, the Lenders agreed to provide the Borrower with a subsequent drawdown under the Loan and Security Agreement in the principal amount of $1,000,000 (the “September Drawdown). The September Drawdown was fully funded on September 11, 2024. The Company expects to use the proceeds of the September Drawdown, after payment of transaction expenses, for general working capital purposes.
glenn1919
9 months ago
veri,,,,,,,,,,,,,,,,,,,,,,,,,,,,,https://stockcharts.com/h-sc/ui?s=vero&p=W&b=5&g=0&id=p86431144783
subslover
9 months ago
Venus Concept Announces Australian Regulatory Approval for Venus Bliss MAX
TORONTO, Sept. 18, 2024 (GLOBE NEWSWIRE) -- Venus Concept Inc. (“Venus Concept” or the “Company”) (NASDAQ: VERO), a global medical aesthetic technology leader, today announced that it has clearance from the Therapeutic Goods Administration (TGA) in Australia to market the Venus Bliss MAX system. The Venus Bliss MAX is the Company’s flagship platform that offers a comprehensive, world-class solution for all customers’ body treatment needs and is currently available in select markets globally.
Featuring three of Venus Concept’s market leading technologies in one, the Venus Bliss MAX is a body shaping solution consisting of our proprietary (MP)2 applicator that combines Multi-Polar Radio Frequency with Pulsed Electro Magnetic Fields and advanced VariPulse™ technology for Cellulite Reduction and Skin treatments, Venus’ FlexMax EMS applicators for Muscle Conditioning and a diode laser for Fat Reduction treatments.
“We are excited to introduce to the Australian market the Venus Bliss MAX, our device that offers aesthetic clinicians an all-in-one body solution to customers,” said Dr. Hemanth Varghese, President and Chief Operating Officer of Venus Concept. “The Venus Bliss Max continues to receive strong positive feedback globally from service providers of its complete body offering, and we are confident the same success will be replicated in Australia.”
subslover
1 year ago
Venus Concept Regains Compliance with Nasdaq’s Minimum Equity Requirement
TORONTO, June 06, 2024 (GLOBE NEWSWIRE) -- Venus Concept Inc. (“Venus Concept” or the “Company”) (NASDAQ: VERO), a global medical aesthetic technology leader, announced that on June 4, 2024, it was notified by the Nasdaq Stock Market LLC (“Nasdaq”) that the Company had regained compliance with the stockholders’ equity requirement set forth in Nasdaq Listing Rule 5550(b)(1) (“Minimum Equity Requirement”). Pursuant to Nasdaq Listing Rule 5815(d)(4)(B), the Company will be subject to a mandatory panel monitor through June 4, 2025.
The Nasdaq Staff originally issued the Company a deficiency notice on May 31, 2023, citing that stockholders’ equity as reported in the Company’s Quarterly Report on Form 10-Q for the period ended March 31, 2023, was below the minimum $2,500,000 required for continued listing. On May 28, 2024, the Company completed a $35 million debt-to-equity transaction. As confirmed by the Nasdaq’s notice dated June 4, 2024, this transaction served to bring the Company into compliance with the Minimum Equity Requirement.
About Venus Concept
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