Haemonetics (NYSE: HAE) has revealed an agreement to transfer its whole blood division to GVS S.p.A in exchange for $67.1 million. GVS, known for its filter solutions in healthcare and life sciences, will pay an initial amount of $44.6 million. An additional sum of up to $22.5 million is structured as contingent earn-outs over the coming four years.
As per the agreement, GVS will acquire Haemonetics’ complete line of proprietary solutions for whole blood collection, processing, and filtration. This acquisition also includes the manufacturing facility located in Covina, California, and related assets at Haemonetics’ Tijuana, Mexico plant.
This strategic move comes as Haemonetics previously declared its intention to phase out its blood inline collection operations, leading to the eventual shutdown of its Covina site.
This agreement mirrors a prior transaction in 2020, where Haemonetics sold its Fajardo, Puerto Rico, facilities to GVS. Both companies have had a longstanding supply and development partnership since then, permitting GVS exclusive rights to produce and supply proprietary blood filters made in Fajardo.
The transaction is set to finalize in the first quarter of 2025. Haemonetics aims to utilize the proceeds to bolster general corporate strategies and invest in growth opportunities. The organization reassured customers that its Blood Center division would persist in manufacturing and distributing a complete range of apheresis solutions for automated blood collection.
“With a strategic focus on portfolio enhancement and leadership expansion in commercial and non-commercial plasma sectors, and growth in hospital markets, our alliance with GVS will facilitate a seamless transition for our whole blood customers globally, aligning with our company objectives,” stated Chris Simon, President and CEO of Haemonetics.