Merck (NYSE: MRK) spinoff Organon (NYSE:OGN) today announced the completion of its acquisition of Alydia Health for up to $240 million.
Alydia Health develops treatments centered around preventing maternal morbidity and mortality caused by postpartum hemorrhage (PPH) or abnormal postpartum uterine bleeding. The company designed its Jada system to control and treat abnormal postpartum uterine bleeding or hemorrhage when conservative management is warranted.
Jersey City, N.J.-based Organon announced an agreement for the acquisition in March. Total consideration amounts to $240 million, including a $215 million cash payment, of which Merck paid $50 million upon signing. Organon paid the remaining $165 million at closing and the final $25 million will potentially arrive as a contingent milestone payment.
“Organon’s acquisition of Alydia Health expands our portfolio into the medical device category and underscores our commitment to identify options for women’s unmet medical needs,” Organon CEO Kevin Ali said in a news release. “This acquisition brings us one step closer to our vision of a better and healthier every day for every woman around the world.”
The deal closed after, on June 3, 2021, Organon officially spun-off from Merck as a standalone, publicly-traded company focused on women’s health needs, namely reproductive health, other women’s health issues and conditions that disproportionately affect women.
On June 3, 2021, Organon launched as a new company committed to women’s everyday health needs, with a focus on reproductive health, health issues that affect women as well as conditions that disproportionately affect women.
“Alydia Health is thrilled to be joining a company that can help progress our founding vision through its commitment to listen to women, to understand her health needs and to bring forward more options,” Alydia Health CEO Rob Binney said.
