CROMA-PHARMA GmbH agreed to acquire European Healthcare Acquisition & Growth Company B.V. (ENXTAM:EHCS) in reverse merger transaction on December 22, 2022. Cornelius Baur CEO of EHC and Stefan Oschmann board member of EHC, to join the newly formed supervisory board upon completion of the business combination.Stefan Oschmann is designated for nomination as chairman of the supervisory board. Upon closing of the transaction, EHC is expected to be converted into a public company with limited liability named Croma N.V. The closing of the transaction is subject to the approval of EHC’s general meeting and the satisfaction or waiver of certain other customary closing conditions.

The business combination is expected to complete in the second quarter of 2023. As of June 27, 2023, European Healthcare Acquisitions & Growth Company BV has until November 17, 2023, to complete a business combination, unless the original 24-month period is extended. Carsten Berrar, Clemens Rechberger and Lars Rueve of Sullivan & Cromwell (Germany) LLP acted as legal advisor to European Healthcare Acquisition & Growth Company B.V. Ernst & Young acted as a legal advisor to European Healthcare Acquisition & Growth Company B.V.