Haemonetics sells whole blood business to GVS for US $67.1 million

Haemonetics sells whole blood business to GVS for US 67.1 million

USA – Haemonetics has announced the sale of its whole blood business to GVS S.p.A., a global provider of filtration solutions for healthcare and life sciences, in a deal valued at US $67.1 million.

The agreement includes an upfront payment of US $44.6 million, with up to US $22.5 million in contingent earn-outs tied to performance milestones over the next four years.

As part of the transaction, GVS will acquire Haemonetics’ portfolio of proprietary whole blood collection, processing, and filtration solutions.

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The deal also includes the Covina, California manufacturing facility where these products are made, as well as equipment and assets at Haemonetics’ Tijuana, Mexico plant.

This marks another step in Haemonetics’ strategic exit from its whole blood segment, which was previously announced alongside plans to wind down operations at the Covina facility.

The sale builds on the long-standing partnership between Haemonetics and GVS, which began with GVS acquiring Haemonetics’ Fajardo, Puerto Rico manufacturing operations in 2020.

That earlier deal included a supply and development agreement granting GVS exclusive rights to produce and supply proprietary blood filters.

The latest agreement ensures a smooth transition for Haemonetics’ whole blood customers while aligning with the company’s focus on higher-growth markets.

Haemonetics plans to use the proceeds from the sale to support corporate initiatives and fund growth opportunities.

CEO Chris Simon emphasized the company’s commitment to evolving its portfolio and concentrating on plasma collection and hospital markets.

He highlighted the deal’s role in enhancing Haemonetics’ focus on its Blood Center business, which will now concentrate exclusively on apheresis solutions for automated blood collection.

The whole blood business contributed approximately US $72 million in sales during fiscal year 2024, but this figure was expected to decline to US $62 million in fiscal year 2025.

By divesting this segment, Haemonetics aims to strengthen its profitability, streamline operations, and focus on its core competencies.

The sale also reflects broader industry trends favoring automated blood collection methods over traditional whole blood processes.

This strategic shift comes amid strong performance for Haemonetics, which recently reported a gross profit margin of 55.34% and revenue growth of 9.84% over the last year.

The divestiture is expected to further improve operational efficiency while bolstering the company’s balance sheet.

The move follows Haemonetics’ US $253 million acquisition of OpSens in December 2023, which added pressure-sensing guidewires for advanced cardiovascular procedures to its portfolio.

Additionally, Haemonetics recently launched a US $75 million accelerated share repurchase program as part of a broader US $300 million buyback initiative.