MedTech company no longer for sale
Regenerative medical devices company, Tissue Regenix Group, today confirmed it is no longer up for sale after a fall in its share price.
The Leeds-based company announced last November it was conducting a review of its strategic options ‘that may include soliciting offers for the company’.
However, despite revealing that adjusted EBITDA would be ahead of expectations, the award of an important European pattern and an extension of its relationship with major customer, Arthrex, its share price has fallen way below its year high of 74p last July.
Its share price is currently trading at 33p.
Tissue Regenix said its share price, which reflects the challenging market environment for small cap companies, is now at a level which bears no resemblance to the typical valuation of a business in the sector, therefore it has ended talks with interested parties.
The company added it will focus on delivering sustainable growth as a standalone independent entity and ‘look forward to further growth in 2025 and beyond’.
Daniel Lee, CEO of Tissue Regenix, said: “As we announced at the time of our trading update, the 4S strategy and our growth pillars continued to deliver growth, and we have not wavered from executing on the plans which drive the business forward.
“Demand for our market differentiated tissue products remains strong and will be augmented with product line enhancements with existing and new customers to drive additional growth in 2025. Our flexibility has given us the ability to weather the significant regulatory and market changes we have encountered over the last year. This strategic process has not changed our growth strategy across all our divisions.”
