BRAINTREE, Mass., May 1, 2013 /PRNewswire/ -- Haemonetics Corporation (NYSE:HAE) today announced that it has completed its previously announced acquisition of the assets of Hemerus Medical, LLC ("Hemerus"), a Minnesota-based company that develops innovative technologies for the collection of whole blood and for the processing and storage of blood components.
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Haemonetics recently learned that the U.S. FDA approved Hemerus' New Drug Application for the SOLX® whole blood collection system for eight hour storage of whole blood. Hemerus previously received CE Marking (Conformite Europeenne) in the European Union to market SOLX as the world's first 56-day red blood cell storage solution. Haemonetics paid $23 million cash at the April 30 closing and, including $1 million paid early in fiscal 2013, has paid $24 million to date. Haemonetics will pay an additional $3 million upon a further FDA approval of the SOLX solution for 24 hour storage of whole blood prior to processing, and will pay up to $14 million on future sales of SOLX-based products.
As Haemonetics' delivers its automated whole blood collection system, it expects SOLX to contribute to market adoption of the whole blood product suite as it brings benefits to blood center customers that are not available today.
Brian Concannon, President and CEO, commented: "The addition of Hemerus' SOLX collection system complements the portfolio of whole blood collection, filtration and processing product lines we recently acquired. We look forward to bringing this new science for red cell storage to our blood center customers as they seek ways to lower the costs of collecting blood and blood components."
Haemonetics is a global healthcare company dedicated to providing innovative blood management solutions for our customers. Together, our devices and consumables, information technology platforms, and consulting services deliver a suite of business solutions to help our customers improve clinical outcomes and reduce the cost of healthcare for blood collectors, hospitals, and patients around the world. Our technologies address important medical markets: blood and plasma component collection, the surgical suite, and hospital transfusion services. To learn more about Haemonetics, visit our web site at http://www.haemonetics.com.
This release contains forward-looking statements that are not historical facts. Haemonetics has identified some of these forward-looking statements with words like "will," "expect," "intend," "believe," "may," "could," "would," "might," "possible," "plan," "anticipate," or "continue," the negative of these words, other terms of similar meaning or the use of future dates. Forward-looking statements in this release include without limitation statements regarding (i) the future FDA approvals, (ii) the effect of the transaction on Haemonetics' business and competitive position, (iii) future innovation and (iv) Haemonetics' future financial performance and financial condition. Information set forth in this press release is current as of today and the Company undertakes no duty or obligation to update this information.
Investors and security holders are cautioned not to place undue reliance on these forward-looking statements. These forward-looking statements are based on estimates and assumptions made by Haemonetics' management and are believed to be reasonable, though inherently uncertain and difficult to predict. Actual results could differ materially from those currently anticipated due to a number of risks and uncertainties, including: (i) a governmental entity's prohibition, delay or refusal to grant approval for the products discussed; (ii) our ability to successfully design, manufacture and sell an automated whole blood collection system; (iii) our ability to manufacture and sell SOLX to blood center customers, (iii) the effects of disruption from the transaction making it more difficult to maintain relationships with employees, customers, vendors and other business partners; (iv) the risk that stockholder litigation in connection with the transaction may result in significant costs of defense, indemnification and liability; other business effects, including the effects of industry, economic or political conditions outside of Haemonetics' control; (v) transaction costs; actual or contingent liabilities; and (vi) other risks and uncertainties discussed in Haemonetics' filings with the U.S. Securities and Exchange Commission, including the "Risk Factors" sections of Haemonetics' most recent annual report on Form 10-K and quarterly reports on Form 10-Q.
Gerry Gould, VP-Investor Relations
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SOURCE Haemonetics Corporation