secwatch.observer — SEC 8-K summary
======================================

Issuer:     Strata Critical Medical, Inc. (SRTA)
CIK:        0001779128
Form:       8-K
Filed at:   2025-09-16T23:59:59+00:00
Accession:  0001779128-25-000114
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 1.01, 2.01, 9.01, 3.02, 7.01
LLM model:  deepseek-v4-flash:cloud@v2

Strata completes $124M acquisition of Keystone Perfusion, updates 2025 guidance
-------------------------------------------------------------------------------

- Total upfront consideration of $124M (88% cash, 12% stock) at ~9x Keystone's estimated 2025 Adjusted EBITDA of ~$13M.
- Up to $23M earn-out payable upon achieving ~25% gross profit growth in each of 2026, 2027, and 2028.
- Keystone expected to generate ~$65M revenue and ~$13M Adjusted EBITDA in 2025, with >50% YoY revenue growth.
- Updated full-year 2025 guidance: revenue $180-190M, Adjusted EBITDA $13-14M (includes Keystone from Sep 16).
- Founder/CEO Louis Verdetto, Michael Hancock, and Christie Campbell remain in current roles post-closing.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1779128/000177912825000114/0001779128-25-000114-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1779128/000177912825000114/srta-20250916.htm
  HTML page:      https://secwatch.observer/filing/0001779128-25-000114

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer