08:49 AM EDT, 06/06/2025 (MT Newswires) -- Venus Concept ( VERO ) said Friday it has agreed to sell its Venus hair business to Meta Healthcare Group for $20 million in an all-cash deal.

Under the terms of the agreement, Meta Healthcare will acquire the company's Meta Robotics unit, containing the portfolio of hair restoration and hair transplant technologies, Venus said.

The medical aesthetic technology company said it intends to close the transaction in Q3, adding that Meta Healthcare will assume its San Jose, California, manufacturing and research and development site.

Veuns said the net proceeds from the deal will enhance its balance sheet and provide capital to finance strategic growth initiatives.

VERO shares were up over 74% in recent premarket activity.