Takeda Pharmaceutical Company has announced that it has entered into an agreement to divest its TachoSil^® Fibrin Sealant Patch to Corza Health, Inc in the US.

Corza Health was formed in 2019 as a partnership between private equity firm GTCR and healthcare industry veteran Gregory T. Lucier to build a market-leading healthcare business with a particular focus on the broader medical technology and life sciences sector. Takeda will receive €350 million in cash upon closing of the transaction, which is subject to customary legal and regulatory closing conditions.

TachoSil^® is a surgical patch trusted by medical professionals globally to deliver safe, fast and reliable bleeding control. Takeda recorded full year net sales for TachoSil^® of approximately $160 million in the fiscal year ended March 31, 2020.

Costa Saroukos, Chief Financial Officer, Takeda, said, “This announcement continues Takeda’s strong momentum toward optimizing our portfolio for growth by delivering highly-innovative medicines and transformative care in our chosen business areas, as well as meeting our leverage targets. As we continue to streamline and simplify our portfolio, Takeda is confident that we have found the right partner in Corza Health as the next home for TachoSil^®. Corza Health’s expertise in healthcare, commitment to patients, customers and employees, and resources in partnership with GTCR make it well-positioned to ensure continued patient access to TachoSil^® and to invest in the product over the long term for their benefit.”