Haemonetics Acquires Vivasure Medical for up to €185M, Expanding Percutaneous Vessel Closure Portfolio
Summary
Haemonetics Corporation announced the acquisition of Vivasure Medical Limited for an upfront payment of €100 million and up to €85 million in contingent consideration, enhancing its presence in the large-bore closure market.
Key Events
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Acquisition of Vivasure Medical
Haemonetics Corporation acquired Vivasure Medical Limited, a company specializing in next-generation percutaneous vessel closure technology.
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Transaction Value
The deal includes an upfront cash payment of €100 million (approximately €52 million net of prior investments) and up to an additional €85 million in contingent consideration based on performance milestones.
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Strategic Expansion
This acquisition expands Haemonetics' complete range of closure devices, bolstering its presence in the large-bore closure market and its impact in fast-growing structural heart and endovascular procedures.
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Financing Method
The transaction was financed through Haemonetics' available cash on hand, avoiding additional debt or equity dilution.
Analysis
This acquisition is a strategic move for Haemonetics, significantly expanding its portfolio of closure devices with Vivasure's next-generation PerQseal Elite system. The technology, which has received CE Mark approval and has an FDA Premarket Approval application pending, positions Haemonetics for increased leadership in fast-growing structural heart and endovascular procedures. Financing the transaction with available cash on hand is a positive signal, indicating strong financial health and avoiding dilution. The contingent consideration structure aligns incentives for Vivasure's future performance.
At the time of this filing, HAE was trading at $84.04 on NYSE in the Industrial Applications And Services sector, with a market capitalization of approximately $3.9B. The 52-week trading range was $47.32 to $87.32. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.