Medical solutions provider Haemonetics has entered into an agreement to sell its whole blood assets to GVS in a deal worth up to $67.1m.
GVS is a manufacturer of filter solutions for the healthcare and life sciences sectors.
The deal includes $44.6m upfront and up to $22.5m in contingent earn-outs over the next four years.
Under the agreement, GVS will acquire Haemonetics’ entire portfolio of proprietary whole blood collection, processing, and filtration solutions.
The acquisition also includes Haemonetics’ manufacturing facility in Covina, California, where some of these products are produced, as well as related equipment and assets at the firm’s facility in Tijuana, Mexico.
The transaction is expected to close in Q1 2025, pending customary closing conditions.
This latest deal follows Haemonetics’ 2020 agreement to sell its Fajardo, Puerto Rico, manufacturing operations to GVS. The previous agreement also included a long-term supply and development contract, granting GVS rights to manufacture and supply the medical solutions provider’s proprietary blood filters produced at the Fajardo facility.
Haemonetics president and CEO Chris Simon said: “As part of our long-range plan we are focused on portfolio evolution to enhance our leadership in commercial and non-commercial plasma and expand our presence in high-growth hospital markets.
“Our agreement with GVS stems from our long partnership and will enable a smooth transition for Haemonetics’ whole blood customers worldwide while supporting our company’s goals.”
The medical solutions provider plans to use the proceeds for general corporate purposes and additional investments in growth initiatives.
Haemonetics’ blood centre business will continue to manufacture and supply its full range of apheresis solutions for automated blood collection. This includes devices and disposable kits for various apheresis collections, such as platelets, plasma, and red cells, designed to ensure efficient blood centre operations.
In August this year, Haemonetics announced the full market launch of its VASCADE MVP XL mid-bore venous closure system. The vascular closure system utilises collapsible disc technology and a proprietary resorbable collagen patch, both designed to ensure rapid haemostasis.
