Inogen to acquire Physio-Assist for up to $45M; prelim Q2 rev $83-84M

Inogen Inc

Acquires Physio-Assist for ~$32M cash at closing plus up to $13M on FDA clearance milestones; total capped at $45M.
Simeox airway clearance device (CE marked) expands product line; US market opportunity estimated at 400k-490k bronchiectasis patients.
Closing expected Q4 2023 subject to French regulatory approval; Inogen provides up to $500k convertible loan pre-close.
Preliminary Q2 2023 revenue $83-84M, below expectations; updated 2023 guidance to follow on Aug 7 earnings call.
Acquisition expected to be accretive to adjusted earnings from 2027 and immediately accretive to gross margin.

item 1.01 item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Inogen Inc reported second quarter of 2023 results: revenue in the range of $83 million to $84 million.

Period: second quarter of 2023
Revenue: in the range of $83 million to $84 million
Result: preliminary results

Exact text from the filing

Inogen estimates preliminary, unaudited total revenue in the second quarter of 2023 to be in the range of $83 million to $84 million.

View on SEC.gov

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Inogen Inc entered into Share Purchase Agreement with Mr. Adrien Mithalal, Mr. Jean-Sébastien Lantz, Mrs. Anne Reiser, CAAP Creation, Societe De Capital Risque Provencale Et Corse, Region Sud Investissement, Mérieux Participations 2, Relyens Innovation Santé and certain holders of exercisable securities identified therein valued at approximately $32,000,000 cash at closing (effective 2023-07-10).

Action: entry
Agreement: asset purchase
Counterparty: Mr. Adrien Mithalal, Mr. Jean-Sébastien Lantz, Mrs. Anne Reiser, CAAP Creation, Societe De Capital Risque Provencale Et Corse, Region Sud Investissement, Mérieux Participations 2, Relyens Innovation Santé and certain holders of exercisable securities identified therein
Value: approximately $32,000,000 cash at closing
Effective: 2023-07-10

Exact text from the filing

On July 10, 2023, Inogen, Inc., a Delaware corporation (“Inogen”), entered into a Share Purchase Agreement (the “Share Purchase Agreement”) with Mr. Adrien Mithalal, Mr. Jean-Sébastien Lantz, Mrs. Anne Reiser, CAAP Creation, Societe De Capital Risque Provencale Et Corse, Region Sud Investissement, Mérieux Participations 2, Relyens Innovation Santé and certain holders of exercisable securities identified therein (collectively, the “Sellers”).

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Source: SEC EDGAR

accession 0000950170-23-032763

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