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HAE Positive Sentiment Score: 70/100

Investor Contacts Media Contact Olga Guyette, Vice President-Investor Relations Treasury (781) 356-9763 olga.guyette haemonetics.com Josh Gitelson, Sr. Director-Global Communications (781) 356-9776 josh.gitelson haemonet

Key Takeaway: Haemonetics Corporation has completed the sale of its whole blood assets to GVS, S.p.A for up to $67.8 million. This transaction includes an upfront payment of $45.3 million and contingent earn-outs over four years. The proceeds will be utilized for corporate purposes and growth initiatives. Despite this strategic move, Haemonetics may face risks regarding the realization of expected benefits and changes in market demand. The company remains committed to its Blood Center business, continuing to provide apheresis solutions.

Market Sentiment Analysis

POSITIVE FACTORS

  • Completion of the sale indicates strong business strategy and capital management.
  • Cash proceeds of up to $67.8M will fund growth initiatives.
  • Haemonetics will continue focusing on its core business in apheresis solutions.

CONCERNS & RISKS

  • Potential risks related to failure in realizing anticipated benefits from the transaction.
  • Contingent earn-outs depend on uncertain future milestones.
  • Market uncertainties may affect product demand and strategy.

Full Press Release Details

Investor Contacts Media Contact
Olga Guyette, Vice President-Investor Relations Treasury (781) 356-9763 olga.guyette haemonetics.com Josh Gitelson, Sr. Director-Global Communications (781) 356-9776 josh.gitelson haemonetics.com
David Trenk, Manager-Investor Relations (203) 733-4987 david.trenk haemonetics.com
Haemonetics Completes Sale of Whole Blood Assets to GVS, S.p.A
BOSTON, Jan. 14, 2025 -- 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.
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.

Frequently Asked Questions

What assets did Haemonetics sell to GVS, S.p.A?

Haemonetics sold its portfolio of whole blood collection, processing, and filtration solutions.

How much did GVS pay for Haemonetics' assets?

The sale included up to $67.8 million, comprising an upfront payment and contingent earn-outs.

When is Haemonetics' earnings call scheduled?

The earnings call is set for February 6, 2025, at 8:00 AM ET.

What will happen to Haemonetics' Blood Center business?

The Blood Center business will continue to provide apheresis solutions for automated blood collection.

Where is Haemonetics' manufacturing facility located?

Haemonetics has manufacturing facilities in Covina, California, and Tijuana, Mexico.

Last updated: Jan 14, 2025