Daily Brief Health Care: Genscript Biotech, Arvida, Jeisys Medical, Embecta , Fusion Pharmaceuticals , Ainos and more

• Biotech play Genscript Biotech (1548 HK) and ~48%-held Legend Biotech (LEGN US) popped recently on a reported tilt for Legend.  Neither Genscript nor Legend made exchange announcements supporting the claim. 
• Preceding my comments on Genscript/Legend are the current setup/unwind tables for Asia-Pacific Holdcos.
• These relationships trade with a minimum liquidity of US$1mn, and a % market capitalisation >20%.

• Arvida (ARV NZ), a leading retirement living and aged care service provider in New Zealand, announced a Scheme from PE-outfit Stonepeak at NZ$1.70/share, in cash, a 65% premium to undisturbed. 
• The Offer has unanimous board support. ~18% of shares out are supportive. Standard Scheme voting applies. Consent from NZ’s Overseas Investment Office also required. 
• A Scheme Meeting is expected to be held in 4Q24 with implementation in the same quarter. Optics are a tad opportunistic; but this looks priced to complete. 

• On 22 July, Arvida (ARV NZ) entered a scheme implementation agreement with Stonepeak at NZ$1.70, a 65.0% premium to the undisturbed price.
• The transaction will require OIO approval, statutory supervisors’ consent and shareholder approval. The Metlifecare Ltd (MET NZ) precedent suggests that the OIO and statutory supervisor should be forthcoming.
• The offer is attractive, and shareholders representing 18% of outstanding shares are supportive. At the last close and for a November payment, the gross/annualised spread was 4.9%/14.2%.  

• Last month, aesthetic laser maker Jeisys Medical (287410 KS) announced French PE outfit Archimed SAS was seeking to delist the company.
• Via a Tender Offer, Archimed sought to acquire 72% of Jeisys at ₩13,000. Archimed also inked agreements with founders/directors for 26.44%, taking its possible % holding to 98.44%.
• The Tender Offer closed on the 22nd July with Archimed holding 81.39% (including the aforementioned agreements). Archimed has now reloaded, on the same terms. There is no minimum acceptance condition. 

• Embecta is in an intricate phase as strategists contemplate its potential as an acquisition target.
• Analyzing Embecta’s scenario involves balancing an array of factors highlighted during its thorough earnings discussion.
• On the positive side, Embecta has displayed a robust earnings performance in the fiscal second quarter of 2024, with a total revenue growth of 3.6% on an as-reported basis and 4.5% on a constant currency basis.

• Fusion Pharmaceuticals is being acquired by AstraZeneca for $21 in cash and a $3 CVR
• Fusion presented promising results from its phase II trial, showing consistent safety signals
• The acquisition demonstrates continued interest and investment in the biotech industry

This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

• Ainos business and priorities. The medtech company has three key technology platforms: (1) AI Nose point of care testing (POCT); (2) Low dose interferon-α Veldona; and (3) Synthetic RNA in early discovery stage.
• Priorities for AI Nose are Ainos Flora (POCT diagnostic for women vaginal health and STIs) and a health monitor system for elderly care in co-development.
• Veldona will focus on oral warts in HIV+ patients and Sjogren’s syndrome, in addition to cat FCGS (gum disease) for animal health.