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Highlights
• All-stock merger values THPlasma at USD 59 million, plus USD 20 million in potential earnouts
• THPlasma posted FY2024 profitability; FY2026 revenue projected at USD 32 million
• Merger follows cancellation of prior 20/20 BioLabs agreement

Longevity Health Holdings, Inc. (Nasdaq:XAGE) disclosed on July 14, 2025, that it has entered into a definitive all-stock merger agreement with THPlasma, a company engaged in plasma collection under the True Health Inc. umbrella. The transaction values THPlasma at USD 59 million, with an additional USD 20 million earnout tied to financial performance milestones.

Post-merger, the combined entity will continue trading on the Nasdaq under the XAGE ticker. In conjunction with the announcement, Longevity confirmed the mutual termination of its earlier acquisition agreement with 20/20 BioLabs.

Founded in the Northeast United States, THPlasma has grown its presence from two centers in fiscal year 2024 to five in 2025 across New Jersey and Pennsylvania. The company has secured guaranteed sales agreements totaling USD 100 million annually and achieved cash profitability in 2024. For fiscal year 2025, it projects USD 10 million in revenue, USD 2 million in EBITDA, and USD 1 million in net income. These figures are estimated to increase substantially by fiscal year 2026, with projected revenue of USD 32 million, EBITDA of USD 7 million, and net income of USD 4 million.

The deal comes after Longevity’s recent acquisitions of Carmell Therapeutics in July 2023 and Elevai Skincare in January 2025. Carmell’s technology is based on plasma-derived growth factors, while Elevai’s product suite focuses on exosome-based applications using stem cells. The alignment with THPlasma adds an operational arm in the plasma collection space to Longevity’s growing portfolio.

Under the terms of the merger, Longevity's stock is valued at USD 3.00 per share representing a 12 percent premium over the July 11 closing price. The valuation of THPlasma corresponds to approximately 2.5 times its estimated fiscal year 2026 revenue, inclusive of the USD 20 million performance-based earnout. There are no cash conditions required to close the merger.

Leadership for the new combined company will include Rajiv Shukla, current Chairman and CEO of Longevity, who will serve as Executive Chairman. George Chi, CEO and founder of THPlasma, will take the role of Co-Chairman and CEO following the closing, which is expected in the fourth quarter of 2025 pending shareholder approvals and customary conditions.

Both companies' boards have unanimously approved the deal.