Merger CHPM

Accelus goes public via merger with CHP Merger

, SPAC research

Integrity Implants Inc. (“Accelus”), a commercial stage medical technology company focused on accelerating the adoption of minimally invasive surgery (MIS) as the standard of care in spine, and CHP Merger Corp., formed by an affiliate of Concord Health Partners, today announced entry into a definitive business combination agreement. Upon the closing of the business combination, CHP Merger Corp. will be renamed Accelus. The business combination is expected to be completed in early 2022.

Based in Palm Beach Gardens, Florida, and established through the combination of Integrity Implants Inc. and Fusion Robotics, LLC, Accelus is a commercial stage medical technology company with a mission to accelerate the adoption of minimally invasive surgery as the standard of care in spine. With a portfolio of MIS spinal implants leveraging its proprietary Adaptive GeometryTM technology and a compact precision robotics platform, Accelus is focused on improving procedures and outcomes, creating favorable economics, and providing broad accessibility across end markets, including ambulatory surgery centers and internationally.

On November 14, 2021, CHP Merger Corp. entered into a definitive agreement to combine with Accelus. Upon closing of the business combination, the combined company will have an estimated pro-forma enterprise value of approximately $482 million. The proposed transaction has been unanimously approved by the boards of directors of each of CHP Merger Corp. and Accelus and is subject to the approval of the stockholders of CHP Merger Corp. and Accelus, and the satisfaction or waiver of other customary conditions.

Piper Sandler is serving as exclusive financial advisor to Accelus. Cadwalader, Wickersham & Taft LLP is serving as legal advisor to Accelus. Credit Suisse is serving as financial and capital markets advisor, and J.P. Morgan Securities LLC is serving as a capital markets advisor to CHP Merger Corp. Ropes & Gray LLP is serving as legal advisor to CHP Merger Corp.



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