Venus Concept Inc. (VERO) has entered into a definitive agreement to sell its Venus Hair business to Meta Healthcare Group for $20 million in an all-cash transaction.
The divestiture is part of Venus Concept's ongoing strategy to streamline operations and focus on its core medical aesthetics business.
Under the terms of the agreement, Venus Concept will transfer its hair restoration technologies - including the ARTAS iX Robotic Hair Restoration system and NeoGraft - to a newly formed subsidiary, Meta Robotics LLC, which Meta Healthcare Group will acquire.
The deal includes all related intellectual property, equipment, services, and the company's manufacturing and R&D facility in San Jose, California.
In fiscal year 2024, the Venus Hair business generated approximately $12.5 million in revenue, while consuming about $6.7 million in cash from operations.
Venus Concept expects the sale to improve its balance sheet, reduce operating costs, enhance cash flow, and accelerate its path to sustainable profitability.
"We believe this transaction positions us to focus more effectively on our global medical aesthetics portfolio, drive revenue growth, and improve financial performance," said Rajiv De Silva, Chief Executive Officer of Venus Concept.
He added, "Meta Healthcare Group is an ideal partner to take the Venus Hair business forward."
As part of the agreement, Meta Healthcare Group will grant Venus Concept a perpetual, royalty-free, worldwide license to certain transferred patents.
The deal is expected to close in the third quarter of 2025, pending customary closing conditions, including an internal reorganization.
Currently, VERO is trading at $3.76, up by 68.41 percent on the Nasdaq.
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