SYDNEY: Next Science Limited (ASX:NXS), an Australian medical technology company, announced Tuesday it has entered into a binding agreement to sell the majority of its assets to Italy-based Demetra Holdings S.p.A. for $50 million.
The deal includes the sale of regulatory approvals, intellectual property, inventory, and other assets but excludes Next Science’s diabetic foot infection (DME) business. Demetra will also assume certain liabilities as part of the transaction.
Next Science plans to return an estimated $30 million in net proceeds to shareholders after repaying debt, covering transaction costs, and addressing potential tax obligations. The company cautioned that this figure is preliminary and subject to change.
Shareholders must approve the sale at an extraordinary general meeting scheduled for Aug. 14, 2025. An independent expert report will assess the fairness of the deal ahead of the vote.
CEO Harry Hall IV said the agreement would allow Next Science’s surgical infection prevention technology to reach its “full potential” under Demetra’s ownership. The board unanimously supports the deal unless a superior offer emerges.
Completion is expected by mid-September, pending regulatory and shareholder approvals. Piper Sandler advised Next Science on the transaction, while Demetra was represented by Baker Donelson.
Next Science, founded in 2012, specializes in infection-control technologies. Demetra is a leader in orthopedic bone cement and antibiotic-loaded implants.