Haemonetics Corporation Expands Its Blood Management Leadership With Acquisition of Neoteric Technology Ltd.
Published: Apr 21, 2009
BRAINTREE, Mass. and VANCOUVER, April 21 /PRNewswire-FirstCall/ -- Haemonetics Corporation , a global blood management solutions company, today announced that it has acquired Neoteric Technology Ltd., a privately held medical information management company effective April 16, 2009. Neoteric markets a full end-to-end suite of products to track, allocate, release, and dispense hospital blood units, while controlling inventory and recording the disposition of blood. The acquisition is expected to be neutral to earnings for Haemonetics in the first year and accretive thereafter. Terms of the deal were not disclosed.
Neoteric's products include the BloodTrack suite of solutions which extend control of blood products from the hospital blood bank through to the transfusion to the patient. "Smart" refrigerators located in operating suites, emergency rooms, and other parts of the hospital dispense blood units with just-in-time control and automated tracking.
Brian Concannon, Haemonetics' President and CEO, said, "We are pleased to be adding the Neoteric product offering to Haemonetics' blood management solutions portfolio, which currently includes devices, software applications, and consulting services. These solutions will enable us to deliver a more complete blood management solution to the hospital market. The Neoteric blood tracking system reduces costs while improving patient care and optimizing blood management practice."
Geof Auchinleck, President of Neoteric, said, "We are pleased to be joining Haemonetics and providing a valuable solution which perfectly complements Haemonetics' portfolio for improving blood management throughout the entire blood supply continuum. Through our integration into Haemonetics, we gain a global marketing reach for our system which can provide simpler, safer blood transfusions for millions of patients worldwide."
A study published in the AABB journal, Transfusion, showed dramatic time and cost savings achieved at hospitals that implement the BloodTrack system. At the John Radcliffe Hospital in Oxford, UK, the time to access blood in the operating room was reduced from 24 minutes to 59 seconds, and the time required for blood bank and clinical staff to manage blood preparation and delivery was reduced from 117 minutes to 34 minutes a day. At the same time, the number of blood units issued from the hospital blood bank was reduced by 52%. By implementing the BloodTrack system, the hospital was able to reduce the time to make blood available to patients and improve the efficiency of the hospital transfusion process.
Neoteric's products will be integrated into Haemonetics' Patient division for marketing and sales. The Company's operations will remain in Vancouver, British Columbia and the United Kingdom. The BloodTrack suite of products are 510(k) and European-regulatory cleared for sales.
Brian Concannon added, "With the acquisition of Neoteric Technology for hospital blood management and the March acquisition of Altivation Software for blood banks, Haemonetics continues to strengthen its value proposition to customers. Both acquisitions are strategic and strengthen our vision of being the global leader in blood management solutions for our customers."
"As we execute to our strategic plan, we remain committed to our aspirational compounded revenue growth target of 10-12% per year, with acquisitions comprising 1-2 percentage points of this growth. Neoteric and Altivation will add about 1 percentage point of growth in fiscal 10. We will continue to pursue strategic, tuck in acquisitions like these moving forward."
Natixis Bleichroeder, Inc. acted as a strategic advisor to Neoteric Technology.
Haemonetics is a global healthcare company dedicated to providing innovative blood management solutions for our customers. Together, our devices and consumables, IT products, 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.
Neoteric Technology Ltd. is a Vancouver, British Columbia based company that provides healthcare solutions to over 150 hospitals in Europe and North American. To learn more about Neoteric, visit our website at http://www.neoterictech.com.
CONTACT: Julie Fallon of Haemonetics, +1-781-356-9517, +1-617-320-2401
Web site: http://www.haemonetics.com/