Haemonetics will shell out up to 185 million euros ($216 million) to acquire Vivasure Medical, a Galway, Ireland-based medtech that makes arterial closure devices.
Boston-based Haemonetics, which is known for producing a range of blood-focused products from plasma collection systems to transfusion monitoring software, is financing the deal with cash on hand, it said in a Jan. 9 press release.
Under terms of the deal, Haemonetics will make an upfront payment of 100 million euros ($117 million) that represents about 52 million euros ($61 million) net of the value of certain investments and other loans previously made by Haemonetics to Vivasure as well as other customary closing adjustments.
An additional 85 million euros ($99 million) could be paid out upon Vivasure making certain milestones and sales growth.
“Acquiring Vivasure expands Haemonetics’ complete range of closure devices with new and clinically differentiated technology to bolster our presence in the large-bore closure market and our impact in fast-growing structural heart and endovascular procedures,” Ken Crowley, a Haemonetics vice president, said in a statement. “With strong clinical performance and safety data, PerQseal Elite positions us for increased leadership in advanced closure.”
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The PerQseal Elite platform uses a bioabsorbable patch to seal large-bore arteriotomies and venotomies from inside the vessel, allowing for a sutureless, fully absorbable option for structural heart and endovascular procedures, the company said.
Last year, Vivasure applied for a premarket approval from the FDA for the platform and received CE mark approval in Europe for both arterial and venous indications.
Haemonetics and Vivasure have a running relationship. Back in 2023, Haemonetics pumped 30 million euros (about $31.6 million at the time) into Vivasure to bolster its series D financing. As part of that investment, Haemonetics picked up the option to acquire Vivasure in the future.
