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Hamilton Thorne Ltd. (HTLZF) is a leading provider of precision instruments, consumables, software, and services in the Assisted Reproductive Technologies (ART) research and cell biology markets. The recent acquisition of Gynetics Medical Products strengthens the company's product offerings in the global IVF market. With Gynetics' revenues of approximately €4.6 million and Adjusted EBITDA of €2.3 million, Hamilton Thorne expands its presence in the European ART market, diversifies revenue streams, and enhances customer service quality.
Hamilton Thorne announced the completion of its going private transaction with Cradle Acquisition ULC, an acquisition vehicle managed by Astorg. The transaction involved the purchase of all issued and outstanding common shares at C$2.25 per share, excluding certain shares held by Daniel Thorne and FAX Capital Corp. Following the transaction, the shares will be delisted from the TSX, and the company will cease to be a reporting issuer in Canada. Registered shareholders who haven't done so are advised to submit their letter of transmittal and share certificates to Computershare Investor Services.
Hamilton Thorne reported strong Q3 2024 financial results with revenue growing 24% to $19.4 million and Adjusted EBITDA increasing 72% to $3.7 million. The company achieved 14% organic growth for the quarter, with equipment sales up 20% and consumables, software, and services growing over 27%. Despite posting a net loss of $1.18 million for the quarter, gross profit increased 27% to $9.7 million. The company generated $3.5 million in operating cash flow for the nine months and maintains $6.9 million cash on hand. Management confirmed 2024 guidance with expected sales between $78-82 million, representing 10-15% organic growth. The company expects to complete its going private transaction on November 29, 2024.
Hamilton Thorne (TSX: HTL), a leading provider in the Assisted Reproductive Technologies (ART) field, has provided an update on its going private transaction with Cradle Acquisition Key points include:
- The transaction was approved by shareholders on September 17, 2024
- Final court approval was obtained on September 20, 2024
- Definitive agreements have been signed for the acquisition of Cook Medical's ART product portfolio
- All required regulatory approvals have been obtained
- The transaction and acquisition are expected to close on November 30, 2024
- Hamilton Thorne's shares will be delisted from the TSX upon closing
The company will also apply to cease being a reporting issuer in Canada.
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