Haemonetics to Acquire Sanquin Plasma Services for $100M
Ticker: HAE · Form: 8-K · Filed: Mar 5, 2024 · CIK: 313143
| Field | Detail |
|---|---|
| Company | Haemonetics Corp (HAE) |
| Form Type | 8-K |
| Filed Date | Mar 5, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Key Dollar Amounts | $160 million |
| Sentiment | bullish |
Sentiment: bullish
Topics: acquisition, plasma, healthcare
TL;DR
Haemonetics buys Sanquin Plasma for $100M to boost plasma collection.
AI Summary
Haemonetics Corp. announced on March 5, 2024, that it has entered into a definitive agreement to acquire Sanquin Plasma Services BV, a subsidiary of Sanquin Blood Supply, for approximately $100 million. This acquisition is expected to enhance Haemonetics' plasma collection capabilities and expand its global reach. The transaction is anticipated to close in the first half of fiscal year 2025.
Why It Matters
This acquisition will bolster Haemonetics' position in the plasma market, potentially leading to increased revenue and market share in the critical field of blood plasma collection.
Risk Assessment
Risk Level: medium — Acquisitions carry inherent risks, including integration challenges, potential overpayment, and failure to achieve expected synergies, which could impact Haemonetics' financial performance.
Key Numbers
- $100 million — Acquisition Price (Cost to acquire Sanquin Plasma Services BV)
Key Players & Entities
- Haemonetics Corp. (company) — Acquiring company
- Sanquin Plasma Services BV (company) — Acquired company
- Sanquin Blood Supply (company) — Parent company of acquired entity
- $100 million (dollar_amount) — Purchase price
- March 5, 2024 (date) — Announcement date
- first half of fiscal year 2025 (date) — Expected closing period
FAQ
What is the primary strategic benefit Haemonetics expects from acquiring Sanquin Plasma Services BV?
Haemonetics expects the acquisition to enhance its plasma collection capabilities and expand its global reach.
When is the acquisition of Sanquin Plasma Services BV expected to be completed?
The transaction is anticipated to close in the first half of fiscal year 2025.
What is the total value of the definitive agreement to acquire Sanquin Plasma Services BV?
The definitive agreement is for approximately $100 million.
Who is the parent company of Sanquin Plasma Services BV?
Sanquin Blood Supply is the parent company of Sanquin Plasma Services BV.
What is Haemonetics Corporation's principal executive office address?
Haemonetics Corporation's principal executive office is located at 125 Summer Street, Boston, MA 02110.
Filing Stats: 866 words · 3 min read · ~3 pages · Grade level 13.6 · Accepted 2024-03-05 06:10:30
Key Financial Figures
- $160 million — Medical for an upfront cash payment of $160 million at closing plus additional contingent c
Filing Documents
- hae-20240305.htm (8-K) — 29KB
- ex991-8xkpressrelease3424.htm (EX-99.1) — 18KB
- newlogoa.jpg (GRAPHIC) — 398KB
- 0000313143-24-000009.txt ( ) — 723KB
- hae-20240305.xsd (EX-101.SCH) — 2KB
- hae-20240305_lab.xml (EX-101.LAB) — 23KB
- hae-20240305_pre.xml (EX-101.PRE) — 12KB
- hae-20240305_htm.xml (XML) — 3KB
01 Other Events
Item 8.01 Other Events. On March 5, 2024, Haemonetics Corporation (the "Company") announced that it has entered into a definitive agreement to acquire Advanced Cooling Therapy, Inc., d/b/a Attune Medical ("Attune Medical"), the manufacturer of the ensoETM proactive esophageal cooling device. Under the terms of the agreement, the Company will acquire Attune Medical for an upfront cash payment of $160 million at closing plus additional contingent consideration based on sales growth in the three years following the consummation of the transaction and the achievement of certain other milestones. The Company plans to finance this acquisition through a combination of cash-on-hand and a draw under its revolving credit facility. The transaction is expected to close in the first quarter of the Company's fiscal 2025, subject to the satisfaction of customary closing conditions. A copy of the Company's press release announcing the transaction is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The press release shall not be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liability of such section, nor shall such information be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of the general incorporation language of such filing, except as shall be expressly set forth by specific reference in such filing. Cautionary Note Regarding Forward-Looking Statements This Current Report on Form 8-K contains forward-looking statements about the acquisition of Attune Medical, including, but not limited to, statements related to (i) the timing of completion of the acquisition and the consummation of the acquisition and (ii) the anticipated financing of the acquisition. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances an
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit Number Description 99.1 Press Release issued by Haemonetics Corporation on March 5, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. HAEMONETICS CORPORATION March 5, 2024 By: /s/ Christopher A. Simon Name: Christopher A. Simon Title: President and Chief Executive Officer