Haemonetics extends Global Med takeover deadline

By Mass High Tech staff

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After reaching an agreement in principal, Haemonetics Corp. reports it has extended the deadline it had set for Global Med Technologies Inc. to accept its acquisition offer to midnight on Wed., Mar. 24. The previous offer was set to expire tonight at midnight.

Last month, Braintree-based Haemonetics made a $60 million cash tender offer to acquire Lakewood, Co.-based Global Med through its subsidiary Atlas Acquisition Corp. The deadline for the deal had been midnight on March 18. Global Med was subsequently sued by shareholders to prevent the sale. To settle the suit, Global Med agreed to “provide supplemental disclosures in its solicitation/recommendation statement,” and the companies agreed to lower the deal’s termination fee from $2.6 million to $2.4 million.

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.

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