Healthcare Investment Opportunities PLC (AIM:HIO) signed a conditional agreement to acquire Collbio Ltd. from Diagnostic Capital, Investment Arm, David Evans and Kevin Wilson and others for £4 million on December 9, 2013. The consideration comprises £0.006 million in cash and issuance of 16 million new ordinary shares of Healthcare Investment Opportunities. A further £0.017 million will be payable in cash and 16 million new ordinary shares of Healthcare Investment Opportunities will be issued depending on the achievement of certain performance criteria. Following implementation of the proposals, certain shareholders of the enlarged group who are deemed to be acting in concert will hold approximately 18.58 ordinary shares, representing 29.09% of the enlarged share capital pursuant to the terms of the acquisition and will have the potential to hold up to approximately 33.91 ordinary shares representing 42.48% on payment of the deferred consideration.

As at September 30, 2013, Collbio had gross assets of £0.14 million. The existing Collbio personnel will be retained in senior management roles. Stewart White, current Chief Executive Officer of Collbio, will join the Board, upon Admission, as Chief Executive Officer. The transaction is subject to the approval of Collbio's shareholders at a general meeting to be held on December 27, 2013. The Independent Director recommended that shareholders vote in favour of all of the deal at the General Meeting.

Ross Andrews, John Depasquale, John Goold and Dominic Wilson of Zeus Capital Limited acted as Nnominated adviser and broker for Healthcare Investment Opportunities PLC. Paul McManus and Mike Wort of Walbrook PR Ltd acted as public relation advisor for Healthcare Investment Opportunities PLC. Cairn Financial Advisers LLP acted as financial advisor for independent Director of Healthcare Investment Opportunities PLC. Baker Tilly Corporate Finance LLP acted as accountant and DWF LLP as legal advisor to Healthcare Investment Opportunities. Capita Asset Services acted as registrar to Healthcare Investment. BPE Solicitors LLP acted as legal advisor to Zeus.

Healthcare Investment Opportunities PLC (AIM:HIO) completed the acquisition of Collbio Ltd. from Diagnostic Capital, Investment Arm, David Evans and Kevin Wilson and others on January 2, 2014. Healthcare Investment Opportunities' name was changed to Collagen Solutions PLC and will be headed by Collbio's Chief Executive Officer, Stewart White.