Biote Corp., a NASDAQ-listed company specializing in preventative healthcare through personalized hormone optimization, has announced a definitive agreement to acquire F.H. Investments, Inc., operating under the name Asteria Health, for an $8.5 million base price with potential additional payments. Asteria Health is a 503B manufacturer focusing on compounded bioidentical hormones and operates under stringent FDA regulations in Birmingham, Alabama. It serves a substantial network of Biote-certified practitioners and clinics across various states in the U.S. This acquisition aims to reinforce Biote’s supply chain and enhance operational efficiencies. Asteria Health’s existing relationship as a supplier to Biote promises minimal initial revenue disruption while offering potential for longer-term innovation in therapeutic wellness products. Terry Weber, CEO of Biote, emphasized the strategy behind this acquisition, noting expectations of improved margin profiles and future expansion into new product development leveraging Asteria Health’s expertise. Bill Fixler, President of Asteria Health, with over two decades of experience in compounding and specialty pharmacies, highlighted their shared commitment to patient health and therapeutic wellness. Funded by Biote’s cash reserves, the purchase agreement is set to close in Q1 2024, contingent upon standard closing conditions. Truist Securities acted as the financial advisor for Biote in this transaction. The press release also includes forward-looking statements concerning the potential impact of this acquisition on Biote’s market outreach, competitive positioning, and regulatory dynamics, while cautioning about the risks and uncertainties linked to such projections.
“Healthcare”, “Manufacturing”, “Biotechnology”,”United States”, “Irving, Texas”, “Birmingham, Alabama”
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