Coloplast inks deal to acquire Kerecis

Danish pharma and medical equipment maker Coloplast (CPH: COLO-B) on Friday revealed it has entered into an agreement to acquire Kerecis, an Iceland based developer of biologics for the wound care market, using. fish skin to develop tissue-transplant products.

The agreement has a total value of up to $1.3 billion, of which Coloplast intends to pay $1.2 billion in an upfront cash payment. Shares of the Danish firm dipped 2.8% to 809.60 kroner.

Kerecis represents an attractive opportunity to strategically strengthen Coloplast’s presence in the advanced wound care market by entering the high-growth, US-centric biologics segment, the company believes.