Irving-based Biote, a medical practice-building business within the hormone optimization space, will be listed on Nasdaq through a business combination with Haymaker Acquisition Corp. III.
Biote—which will earn projected revenue of $136 million in 2021—trains practitioners to identify and treat early indicators of hormone-related aging conditions. The company then provides components that enable practitioners to establish, build, and successfully operate hormone optimization centers.
The implied initial equity value of the business combination is approximately $737 million.
“Biote has a huge opportunity to enable physicians to help this highly underserved patient population take greater control of their health,” said Terry Weber, CEO of Biote (above) in a statement. “Biote is committed to educating and empowering providers to effectively treat patients and help them understand the critical role that hormones play in healthy aging,”
The business combination is expected to be completed in the first half of 2022, with the combined company listed on Nasdaq under the ticker symbol BTMD.
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