Mergers & Acquisitions ·
Adagio Medical cuts 25 jobs, incurs $1.3M severance as it explores sale or merger
ADGMAdagio Medical Holdings, Inc.
Adagio Medical Holdings announced a strategic review process on September 23, 2026, to explore alternatives such as an acquisition or merger. The company is reducing its workforce by 25 of 43 employees, incurring approximately $1.3 million in severance and related costs. Concurrently, the company lowered the conversion price for its 13% Senior Secured Convertible Notes effective September 23, 2026, to enhance liquidity during the review period. As of June 30, 2026, the company held approximately $7.7 million in cash and investments. Adagio Medical Holdings is a medical device company focused on developing and commercializing catheter ablation technologies for cardiac arrhythmias.