Scottish life sciences pioneer to disappear from stock market after US takeover

Collagen Solutions, the Glasgow-based life sciences firm, is set to become part of US-based Rosen’s Diversified with its share listing disappearing around the middle of next month.

Jamal Rushdy, chief executive of Collagen Solutions, based in Glasgow, said the firm has made tremendous progress in its vision to be the industry’s first choice for regenerative biomaterials. Picture: Sarah Pierce Photography

The Scots firm said the takeover offer for the company, which was unveiled this summer, had become unconditional in all respects. It has urged shareholders who have yet to accept the Rosen’s offer to do so as soon as possible.

The last day of trading in Collagen shares is likely to be November 16 with the company’s listing on the Alternative Investment Market in London cancelled with effect from November 17.

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Rosen’s said it had acquired or has agreed to acquire shares representing 92.61 per cent of the Collagen shares currently in issue.

Rosen’s Diversified Inc, or RDI, is a multi-billion dollar, family-owned and controlled business which is headquartered in Minnesota. It sells a range of food, agricultural and scientific products into more than 30 countries and has some 4,500 employees.

Collagen Solutions is set to become part of RDI’s life sciences division.

Jamal Rushdy, chief executive of Collagen Solutions, said: “We have made tremendous progress in our vision to be the industry’s first choice for regenerative biomaterials.

“We believe that being part of RDI will generate significant growth opportunities and create enhanced value for the benefit of all stakeholders and in particular our employees, customers and suppliers.

“I am optimistic and excited for the potential for continued momentum and greater opportunity for Collagen Solutions.”

Wade Rosen, director of RDI and executive vice president of corporate development at the Scientific Life Solutions (SLS) division, said: “Collagen Solutions represents an attractive strategic and cultural fit with SLS and we have been highly impressed by the long-term vision and ethos of the company.

“The successful completion of the offer will now provide a foundation for SLS to become a major tissue provider in North America, leveraging the RDI Group’s local porcine and bovine harvest, logistics and distribution capabilities in the United States.

“Collagen’s international presence will also provide a platform for SLS to extend its supply of porcine and bovine tissue into the EMEA and APAC regions.”

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