CANTON, Mass. and NEW YORK, Dec. 10,
2018 /PRNewswire/ -- Organogenesis Holdings Inc.
("ORGO"), a leading regenerative medicine company focused on the
development, manufacture and commercialization of product solutions
for the Advanced Wound Care, Surgical and Sports Medicine markets,
today announced the completion of its previously announced business
combination between Organogenesis Inc. and Avista Healthcare Public
Acquisition Corp. ("AHPAC"). The transaction was approved by
AHPAC's shareholders at an extraordinary general meeting, and by
Organogenesis Inc.'s stockholders at a special meeting, each held
on December 10, 2018.
As previously reported, affiliates of Avista Capital Partners
("Avista"), a leading private equity firm, have invested a total of
$92 million in the combined company
in conjunction with the business combination.
ORGO (formerly known as AHPAC) has applied to continue the
listing of ORGO Class A common stock and ORGO public warrants on
the NASDAQ under the proposed symbols "ORGO" and "ORGOW"
respectively.
Organogenesis' management team, led by Gary S. Gillheeney, Sr., will run the combined
company.
"We are pleased to have closed this transaction with
Organogenesis and look forward to a very successful partnership,"
said Thompson Dean, Managing Partner and Co-CEO of Avista.
"Organogenesis is an ideal partner for Avista, given its leading
position in the rapidly accelerating regenerative medicine sector,
numerous growth opportunities and demonstrated ability to execute
on product development and commercialization capabilities.
Collectively, we will work to create tremendous value for
Organogenesis' patients, investors, employees and key
stakeholders."
Gary S. Gillheeney, Sr.,
President and Chief Executive Officer of Organogenesis,
said, "We are delighted to have
completed this transaction and look forward to capitalizing on
Tom Dean and Avista's strategic
expertise as Organogenesis uses the capital from this investment to
execute on its compelling growth objectives and continues to
deliver its customers a versatile product portfolio to
substantially improve the lives of their patients."
Credit Suisse Securities (USA)
LLC acted as financial advisor to AHPAC. Weil, Gotshal & Manges
LLP acted as legal advisor to AHPAC. Foley Hoag LLP acted as
legal advisor to Organogenesis.
About Organogenesis
Organogenesis is a leading regenerative medicine company
offering a portfolio of bioactive and acellular biomaterials
products in advanced wound care and surgical biologics, including
orthopaedics and spine. Organogenesis's comprehensive
portfolio is designed to treat a variety of patients with repair
and regenerative needs. For more information, visit
www.organogenesis.com.
About Avista Healthcare Public Acquisition Corp.
AHPAC is a special purpose acquisition company that completed
its initial public offering in October
2016. AHPAC was formed for the purpose of effecting a
merger, capital stock exchange, asset acquisition, stock purchase,
reorganization, or business combination with one or more
businesses. AHPAC is sponsored by Avista Acquisition Corp.,
which was formed for the express purpose of acting as the sponsor
for AHPAC. Avista Acquisition Corp. is an affiliate of Avista
Capital Holdings, L.P. For more information, visit
www.avistapac.com/ahpac.
About Avista Capital Partners
Founded in 2005, Avista is a leading New York-based private equity firm with over
$6 billion invested in more than 30
growth-oriented healthcare businesses. Avista targets
businesses with strong management teams, stable cash flows and
robust growth prospects and utilizes a proactive, hands-on approach
to create value in its portfolio companies. Avista's
Operating Executives and Advisors are an integral part of the team,
providing strategic insight, operational oversight and senior
counsel, that help drive growth and performance to create long-term
value and sustainable businesses. For more information, visit
www.avistacap.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995.
Forward-looking statements may be identified by the use of words
such as "forecast," "intend," "seek," "target," "anticipate,"
"believe," "expect," "estimate," "plan," "outlook," "continue" and
"project" and other similar expressions that predict or indicate
future events or trends or that are not statements of historical
matters. Such forward looking statements, including those related
to our ability to execute our strategic plan, are based on current
expectations that are subject to known and unknown risks and
uncertainties, including our ability to maintain our NASDAQ
listing. Investors are also encouraged to review the other
risks and uncertainties indicated in the definitive registration
statement of ORGO filed in connection with the business combination
and the joint proxy/consent solicitation statement/prospectus
contained therein, including those under "Risk Factors" therein,
and other documents filed or to be filed with the Securities and
Exchange Commission ("SEC") by ORGO. Investors are cautioned
not to place undue reliance upon any forward-looking statements,
which speak only as of the date made. ORGO and Organogenesis
undertake no commitment to update or revise the forward-looking
statements, whether as a result of new information, future events
or otherwise. The forward-looking statements in this press release
speak as of the date of this press release. Although ORGO may
from time to time voluntarily update its prior forward-looking
statements, it disclaims any commitment to do so whether as a
result of new information, future events, changes in assumptions or
otherwise except as required by applicable securities laws.
Press and Media Inquiries:
Kekst CNC (for
AHPAC and Avista Capital Partners)
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Daniel
Yunger
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212-521-4800
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Daniel.Yunger@kekstcnc.com
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Organogenesis
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Press
Inquiries:
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Angelyn
Lowe
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781-774-9364
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alowe@organo.com
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Investor
Inquiries:
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Westwicke
Partners
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443-213-0500
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Mike Piccinino,
CFA
|
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OrganoIR@westwicke.com
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SOURCE Avista Capital Partners