NEW YORK: Longevity Health Holdings, Inc. (Nasdaq: XAGE), a company focused on human longevity and healthy aging, announced Tuesday the execution of a definitive agreement to merge with True Health Inc., operator of the THPlasma brand, in an all-stock transaction.
The combined company is expected to continue trading on Nasdaq under the ticker “XAGE” after closing.
The merger aims to address the U.S. shortage of plasma and plasma-derived therapeutics, critical for treatments like immunoglobulins, clotting factors, and albumin. Despite supplying over 60% of the world’s plasma, the U.S. faces a significant deficit. THPlasma operates a rapidly expanding network of plasma collection centers in the Northeast.
Transaction Highlights:
- THPlasma valued at $59 million plus a $20 million earnout tied to financial performance.
- Valuation represents approximately 2.5 times THPlasma’s estimated 2026 revenue including earnout.
- Longevity stock valued at $3.00 per share in the deal, a 12% premium to its July 11 closing price.
- No financing conditions precedent to closing.
- Longevity Chairman and CEO Rajiv Shukla will become Executive Chairman post-closing.
- THPlasma Founder and CEO George Chi will become Co-Chairman and CEO of the combined company.
THPlasma Business Highlights:
- Expanding from 2 centers (FY24) to 5 centers (New Jersey & Pennsylvania) in FY25.
- Secured long-term offtake agreements guaranteeing up to $100 million in annual sales.
- Achieved cash profitability in FY2024.
- Projected FY2025 revenue of $10 million, EBITDA of $2 million, net income of $1 million.
- Projected FY2026 revenue of $32 million (220% YoY growth), EBITDA of $7 million (250% YoY growth), net income of $4 million (325% YoY growth).
- Targeting rapid growth via acquisitions and organic expansion.
The transaction, unanimously approved by both companies’ boards, is expected to close in Q4 2025, subject to customary closing conditions and stockholder approvals. Longevity also announced the mutual termination of its previously announced 20/20 BioLabs transaction.
“This merger is a transformative step expected to supercharge our growth by unlocking access to public markets and future M&A opportunities,” said George Chi, Founder and CEO of THPlasma. “Our teams are strategically aligned to fuel innovation, accelerate scale, and deliver value.”
“This merger marks a significant inflection point in our shareholder value creation journey,” said Rajiv Shukla, Chairman and CEO of Longevity. “Combining with a rapidly growing, cash-profitable business valued at an attractive multiple benefits our shareholders. We expect to drive further growth in THPlasma through M&A and organic initiatives.”
The merger follows Longevity’s acquisitions of plasma-derived growth factor platform Carmell Therapeutics (July 2023) and exosome-based Elevai Skincare (January 2025).
THPlasma operates plasma collection centers in the Northeast United States under the THPlasma brand. The company holds long-term partnerships guaranteeing sales offtake agreements worth up to $100 million annually.
Longevity Health Holdings (Nasdaq: XAGE) focuses on longevity and healthy aging through scientific advances in regenerative bio-aesthetics, diagnostics, and nutrition. Its products aim to help individuals look and feel their best at any age.