Haemonetics has signed an agreement for the acquisition of Attune Medical, which manufactures the ensoETM proactive oesophagal cooling device, for a $160m upfront payment.
The transaction value also includes additional sales-based contingent consideration.
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By GlobalDataThis acquisition brings the US Food and Drug Administration (FDA)-cleared ensoETM device into Haemonetics’ portfolio.
ensoETM is a temperature regulation device indicated for oesophagal protection at the time of procedures related to RF cardiac ablation.
Haemonetics Global Hospital president Stewart Strong said: “Attune Medical’s ensoETM will bolster Haemonetics’ presence in the electrophysiology market and complement our leadership in vascular closure.
“EnsoETM effectively reduces oesophagal injuries without requiring hospitals to purchase complex and costly new ablation systems.
“With this groundbreaking solution, we look forward to empowering more physicians to improve patient outcomes, and expanding our EP portfolio with yet another industry-leading technology to accelerate the growth and impact of our Interventional Technologies business.”
With revenues of nearly $22m reported for the fiscal year ended 31 December 2023, Attune Medical has demonstrated significant growth, which Haemonetics anticipates will contribute to its revenue and earnings growth post-acquisition.
Attune Medical CEO Jay Istvan said: “We are thrilled to become part of Haemonetics. Its Hospital business has strong positions in both EP and critical care, and its international channels are robust and expanding.
“We believe Haemonetics is the best company to bring ensoETM’s substantial benefits to more caregivers worldwide to enable new standards of care.”
The transaction is planned to close in the first quarter of Haemonetics’s fiscal year 2025.
Haemonetics plans to finance the acquisition through its cash reserves and its revolving credit facility.
Legal advisement for the transaction was provided by DLA Piper for Haemonetics, and William Blair, Perkins Coie for Attune Medical.
Last year, Haemonetics obtained FDA approval for its NexSys PCS plasma collection system enhancements.
