IPO of Aroa Biosurgery Limited
Aroa Biosurgery is a soft-tissue regeneration company that develops, manufactures, sells and distributes medical and surgical products to improve healing in complex wounds and soft tissue reconstruction. Committed to ‘unlocking regenerative healing for everybody’, its products are developed from the Company’s proprietary Endoform® technology platform, a novel extracellular matrix biomaterial derived from ovine (sheep) forestomach. Clinically proven with peer reviewed publications, Aroa’s products have been used in more than four million procedures to date, with distribution into its key market of the United States by Appulse and Tela Bio.
Founded in 2008, Aroa is headquartered in Auckland, New Zealand and is listed on the Australian Securities Exchange (ASX:ARX).
Despite the impact of COVID-19 on global capital markets, Aroa raised funds of A$30m on listing of shares on the Australian Securities Exchange (ASX) in July 2020. The funds will be used to increase the sales and marketing capabilities of the business as well as to support expansion of the manufacturing capacity.
BDO was engaged by Aroa to perform the Independent Accountant, Independent Tax Adviser and Auditor roles for their IPO on the ASX.