Biote to Acquire F.H. Investments

Biote, a pharmaceutical company, has recently announced its plans to acquire F.H. Investments, trading as Asteria Health, a renowned manufacturer of compounded bioidentical hormones. The transaction, valued at $8.5 million, is expected to be completed in the first quarter of this year. Moreover, Biote has stated that if production metrics are met by April 1, Asteria Health shareholders may receive an additional $500,000.

Asteria Health currently operates an FDA-registered 503B outsourcing facility located in Birmingham, Alabama. The company plays a crucial role in supporting Biote's certified practitioners and partnered clinics across several states in the United States. With this acquisition, Biote aims to gain better control over its supply chain and improve overall efficiency.

Biote's CEO, Terry Weber, expressed optimism regarding the acquisition's impact on their manufacturing processes. He emphasized that by bringing manufacturing in-house, they anticipate a positive impact on their margin profile. Furthermore, Weber highlighted the long-term opportunity to leverage Asteria Health's product development expertise in expanding their offerings of therapeutic wellness products for Biote-certified practitioners.