BOSTON - Haemonetics Corporation (NYSE: NYSE:HAE), a global provider of medical products and solutions, has announced an agreement to purchase Attune Medical, a manufacturer of the ensoETM esophageal cooling device. The transaction includes an upfront payment of $160 million and additional sales-based contingent consideration.
The acquisition, subject to standard closing conditions, is anticipated to close in the first quarter of Haemonetics' 2025 fiscal year. Attune's ensoETM device is the only FDA-cleared product for esophageal protection during radiofrequency cardiac ablation, a procedure used to treat atrial fibrillation affecting millions in the U.S. The device has been associated with reduced procedure times and patient readmissions, as well as increased rates of same-day discharge and long-term success.
Stewart Strong, President of Haemonetics' Global Hospital business, stated that the ensoETM device will enhance their position in the electrophysiology market and complement their Vascular Closure leadership. According to Strong, the device allows for the reduction of esophageal injuries without the need for new ablation systems, which he anticipates will improve patient outcomes and expand their Interventional Technologies portfolio.
Jay Istvan, CEO of Attune Medical, expressed enthusiasm about joining Haemonetics, highlighting the company's strong international presence and believing that it will help bring the ensoETM device to a wider global market.
Attune Medical reported a revenue of approximately $22 million for the fiscal year ending December 31, 2023, showing significant growth from the previous year. Haemonetics expects the acquisition to immediately contribute to their revenue and earnings growth post-transaction.
The acquisition will be financed through Haemonetics' available cash and its revolving credit facility. Legal and financial advisory roles were filled by DLA Piper for Haemonetics, and by William Blair and Perkins Coie for Attune Medical.
This news is based on a press release statement and does not include any speculative information. The forward-looking statements in the press release are subject to risks and uncertainties that could cause actual results to differ materially from those projected.
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