Haemonetics Corporation completed the acquisition of Advanced Cooling Therapy, Inc.
April 31, 2024
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Haemonetics Corporation (NYSE:HAE) entered into a definitive agreement to acquire Advanced Cooling Therapy, Inc. for approximately $160 million on March 5, 2024. Under the terms of the agreement, Haemonetics 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. Haemonetics plans to finance this acquisition through a combination of cash-on-hand and a draw under its revolving credit facility. Attune Medical generated approximately $22 million in revenue during its most recently completed fiscal year ended December 31, 2023. The acquisition is subject to customary closing conditions and is expected to be completed in the first quarter of Haemonetics? fiscal year 2025. Haemonetics expects this transaction to be immediately accretive to revenue and earnings growth following the completion of the transaction. DLA Piper served as legal advisor for Haemonetics. William Blair served as financial advisor and Perkins Coie served as legal advisor for Attune Medical.
Haemonetics Corporation (NYSE:HAE) completed the acquisition of Advanced Cooling Therapy, Inc. on April 1, 2024.
Haemonetics Corporation is a global healthcare company. The Company is engaged in providing a suite of medical products and solutions for customers, to help them improve patient care and reduce the cost of healthcare. Its technology addresses various medical markets, including blood and plasma component collection, the surgical suite, and hospital transfusion services. The Companyâs Plasma segment includes plasma collection devices and disposables, donor management software and supporting software solutions sold to plasma customers. Its Blood Center segment includes blood collection and processing devices and disposables for red cells, platelets and whole blood. The Companyâs Hospital segment consists of Interventional Technologies, which includes vascular closure devices and sensor-guided technologies, and Blood Management Technologies, which includes devices and methodologies for measuring coagulation characteristics of blood, and blood transfusion management software, among others.