Haemonetics Corp. (NYSE:HAE) announced Friday it has acquired Vivasure Medical Limited, a Galway-based pioneer in vessel closure technology, in a move that significantly broadens its reach into the $2.5 billion global vascular closure market.
The transaction includes an upfront cash payment of €100 million ($109 million), with an additional €85 million ($93 million) tied to future sales milestones and clinical goals.
Because Haemonetics was a prior investor in Vivasure, the net upfront cash outlay is approximately €52 million.
The centerpiece of the acquisition is the PerQseal® Elite, a percutaneous large-bore vessel closure system designed to seal arterial and venous access sites following complex heart procedures like TAVR (transcatheter aortic valve replacement).
Unlike traditional methods that use permanent metal clips or sutures, the PerQseal system uses a fully bioabsorbable patch that is placed from inside the vessel. This allows the artery to heal naturally, with the patch dissolving completely within six months.
Clinical data from the ELITE study supported the acquisition, reporting a 0% major complication rate at 30 days and a median "immediate" time to hemostasis (bleeding cessation).