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Print Edition StoriesMonday, February 1, 2010
Haemonetics pays $60M for Global Med Technologies
By Mass High Tech staff
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Braintree-based blood management applications company Haemonetics Corp. has announced a deal to buy California healthcare information technology firm Global Med Technologies Inc. for $60 million in a cash tender offer.
The acquisition deal calls for Haemonetics to buy outstanding Global Med common stock at $1.22 per share and preferred stock at $1,694 per share. The blood management firm said in a statement that it will pay for the buyout with cash on hand, with the deal expected to close in the fourth quarter of fiscal 2010.
The acquisition will bring Global Med’s software for blood-related applications, from blood collection to blood transfusion.
Haemonetics (NYSE: HAE) develops blood management products, in the areas of blood collection and separation technology, surgical blood salvage systems and diagnostic products.
Last year, Haemonetics paid $12.5 million in cash in September for Engineering and Research Associates Inc.’s blood collection and processing business, also known as SEBRA. The company bought the SEBRA name as well as a division that provides a suite of products used in blood collection and processing, including radio-frequency tube seals, shaker devices that aid proper mixing of anticoagulants, mobile lounges and tourniquets for use in mobile collection centers.
In April, Haemonetics announced two other acquisitions. It bought applications and devices maker Neoteric Technology Ltd., based in Vancouver, B.C., which makes a suite of applications to track, allocate, release and dispense hospital blood units. Earlier that month, Haemonetics bought privately-held Altivation Software, an information management software company based in California, so that Haemonetics can offer blood collection management applications.
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