Haemonetics Completes Sale of Whole Blood Assets to GVS, S.p.A

Rhea-AI Summary

Haemonetics (NYSE: HAE) has completed the sale of its whole blood assets to GVS, S.p.A for a total consideration of up to $67.8 million. The deal includes $45.3 million upfront payment and potential earn-outs of up to $22.5 million over four years.

The transaction encompasses Haemonetics' whole blood collection, processing and filtration solutions portfolio, along with its Covina, California manufacturing facility and related assets in Tijuana, Mexico. The company plans to use the proceeds for general corporate purposes and growth initiatives.

Haemonetics will maintain its Blood Center business, continuing to manufacture and provide apheresis solutions for automated blood collection, including devices and disposable kits for platelets, plasma, and red cells collection.

Positive

• Sale generates immediate cash influx of $45.3M with potential additional $22.5M in earn-outs
• Proceeds to be invested in growth initiatives
• Company retains core apheresis solutions business

Negative

• Divestment of whole blood collection business segment reduces revenue streams

BOSTON, Jan. 14, 2025 /PRNewswire/ -- Haemonetics Corporation (NYSE: HAE), a global medical technology company focused on delivering innovative medical solutions to drive better patient outcomes, today announced that it has completed the previously announced sale of its whole blood assets to GVS, S.p.A ("GVS"), one of the world's leading manufacturers of filter solutions for applications in the healthcare and life sciences sectors. In connection with the closing of this transaction, GVS has acquired Haemonetics' portfolio of proprietary whole blood collection, processing and filtration solutions, along with Haemonetics' manufacturing facility in Covina, California where certain of these products are produced, and related equipment and assets located at Haemonetics' manufacturing facility in Tijuana, Mexico.

The transaction comprises a total cash consideration of up to $67.8M, including $45.3M upfront after giving effect to certain customary adjustments, and up to $22.5M in contingent earn-outs over the next four years. The Company intends to use the proceeds from this transaction for general corporate purposes and additional investments in growth initiatives. Haemonetics will provide further details regarding the financial impact of this transaction on its fiscal year 2025 guidance during its third-quarter earnings call, scheduled for February 6, 2025, at 8:00 AM ET.

Haemonetics' Blood Center business will continue to manufacture and provide customers with its full line of apheresis solutions for automated blood collection. These include devices and disposable kits that support a variety of apheresis collections, including platelets, plasma and red cells, and ensure efficient blood center operations.

ABOUT HAEMONETICS

Haemonetics (NYSE: HAE) is a global healthcare company dedicated to providing a suite of innovative medical products and solutions for customers, to help them improve patient care and reduce the cost of healthcare. Our technology addresses important medical markets: blood and plasma component collection, the surgical suite and hospital transfusion services. To learn more about Haemonetics, visit www.haemonetics.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements do not relate strictly to historical or current facts and may be identified by the use of words such as "may," "will," "should," "could," "would," "expects," "plans," "anticipates," "believes," "estimates," "projects," "predicts," "forecasts," "foresees," "potential" and other words of similar meaning in conjunction with statements regarding, among other things, (i) the anticipated benefits to Haemonetics arising from the completion of the transaction; (ii) statements regarding Haemonetics' strategies, positioning, resources, capabilities and expectations for future performance; and (iii) the assumptions underlying or relating to any such statement. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon Haemonetics' current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties.

Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, the failure to realize the anticipated benefits of the transaction, including from non-achievement of any commercial milestone required to receive all or part of the additional contingent consideration, or the transaction having an unanticipated impact; Haemonetics' ability to predict accurately the demand for its products and products under development and to develop strategies to address its markets successfully; and the impact of competitive products and pricing and technical innovations that could render products marketed or under development by Haemonetics obsolete. These and other factors are identified and described in more detail in Haemonetics' filings with the U.S. Securities and Exchange Commission. Haemonetics does not undertake to update these forward-looking statements.

Investor Contacts:
Olga Guyette, Vice President-Investor Relations & Treasury		David Trenk, Manager-Investor Relations
(781) 356-9763		(203) 733-4987
olga.guyette@haemonetics.com		david.trenk@haemonetics.com
Media Contact:
Josh Gitelson, Sr. Director-Global Communications
(781) 356-9776
josh.gitelson@haemonetics.com

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SOURCE Haemonetics Corporation

FAQ

What is the total value of Haemonetics (HAE) whole blood assets sale to GVS?

The total value of the sale is up to $67.8 million, including $45.3 million upfront payment and potential earn-outs of up to $22.5 million over four years.

What assets did Haemonetics (HAE) sell to GVS in the January 2025 deal?

Haemonetics sold its whole blood collection, processing and filtration solutions portfolio, Covina manufacturing facility in California, and related assets in Tijuana, Mexico.

How will Haemonetics (HAE) use the proceeds from the GVS asset sale?

Haemonetics plans to use the proceeds for general corporate purposes and additional investments in growth initiatives.

What blood-related products will Haemonetics (HAE) continue to manufacture after the GVS sale?

Haemonetics will continue to manufacture apheresis solutions for automated blood collection, including devices and disposable kits for platelets, plasma, and red cells collection.

When will Haemonetics (HAE) provide details about the financial impact of the GVS sale?

Haemonetics will provide details about the financial impact during its third-quarter earnings call on February 6, 2025, at 8:00 AM ET.