M&A · Healthcare · Pharmaceutical Preparations
Biosynex SA to acquire Chembio Diagnostics, Inc.
Announced Jan 31, 2023 · Closed Apr 27, 2023
Deal value$17MEV $14M
Premium27.0%To unaffected price
EV / Adj. EBITDA—0.2x EV / Revenue
ConsiderationAll cash$0.45 per share
Transaction
- Acquirer
- Biosynex SA
- Target
- Chembio Diagnostics, Inc.
- Buyer type
- Strategic
- Offer price per share
- $0.45
- Enterprise value
- $14M
- Status
- Closed Apr 27, 2023
Deal protections
- Break fee (target pays)
- $0.8M · 4.9%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Not disclosed
- To the target
- Craig-Hallum
- Craig-Hallum fee
- $1.0M
Sector context · Healthcare
- Comparable deals
- 75 in the prior 24 months
- Premium
- 27.0% vs. 50.0% sector median
- EV / Adj. EBITDA
- Sector median 20.4x
- Break fee
- 4.9% vs. 3.4% sector median
Timeline
- AnnouncedJan 31, 2023
- Tender offerFeb 14, 2023
- ClosedApr 27, 2023
Valuation · fairness opinions
Discounted cash flow$0.24$0.54
Offer $0.45
Implied value per Chembio Diagnostics, Inc. share by analysis, from Craig-Hallum.