Haemonetics has agreed to acquire Vivasure Medical for up to €185 million ($216 million), expanding its presence in arterial closure devices. The Haemonetics Vivasure acquisition involves the purchase of the Galway, Ireland-based company, which develops devices used in large-bore vascular procedures.
Haemonetics said it will fund the transaction using cash on hand. Under the terms of the agreement, the company will make an upfront payment of €100 million ($117 million). This amount reflects about €52 million ($61 million) net of the value of prior investments, loans previously provided to Vivasure, and standard closing adjustments.
An additional €85 million ($99 million) may be paid if Vivasure meets specified performance milestones and sales targets.
“Acquiring Vivasure expands Haemonetics’ complete range of closure devices with new and clinically differentiated technology to bolster our presence in the large-bore closure market and our impact in fast-growing structural heart and endovascular procedures,” Ken Crowley, a Haemonetics vice president, said in a statement. “With strong clinical performance and safety data, PerQseal Elite positions us for increased leadership in advanced closure.”
Vivasure’s PerQseal Elite platform uses a bioabsorbable patch to seal large-bore arterial and venous access sites from inside the vessel. The system is designed to provide a sutureless and fully absorbable option for structural heart and endovascular procedures.
Last year, Vivasure submitted a premarket approval application to the U.S. Food and Drug Administration for the PerQseal Elite platform. The device has also received CE mark approval in Europe for both arterial and venous indications.
The Haemonetics Vivasure acquisition builds on an existing relationship between the two companies. In 2023, Haemonetics invested €30 million in Vivasure’s Series D financing round. That investment included an option allowing Haemonetics to acquire the company at a later date.