Coloplast acquires Icelandic wound care enterprise in billion-dollar transaction

Kerecis represents an attractive opportunity to strategically strengthen Coloplast’s presence in the advanced wound care market by entering the high-growth, US-centric biologics segment. With a mission to improve wound care treatment, Kerecis has developed and patented a clinically differentiated, sustainable, and scalable technology platform based on intact fish skin. Following the expected acquisition, Kerecis will operate as a stand-alone business unit under its own identity and brand, the integration focusing on business support and other selected areas to support the company’s strong growth outlook and continued expansion.  

The total enterprise value for 100% ownership of Kerecis amounts to up to USD 1.3 billion (around DKK 8.9 billion), consisting of USD 1.2 billion (around DKK 8.2 billion) upfront cash payment and an earnout potential of maximum USD 100 million (around DKK 680 million). The transaction is expected to be financed through an equity capital raise.  

As of announcement, 77% of Kerecis’ shareholders have committed to selling their shares to Coloplast. Closing of the transaction is subject to customary regulatory approvals and an acceptance threshold of at least 90%, and is anticipated in Q4 2022/23.