Haemonetics Corp. (HAE: Quote) announced that it has entered into a definitive agreement to acquire the business assets of Hemerus Medical, LLC, a Minnesota-based company that develops innovative technologies for the collection of whole blood, and processing and storage of blood components. The acquisition is expected to close during the second quarter of fiscal 2013.
The company said that it has completed Phase 3 clinical trials and has submitted a New Drug Application to the FDA for its unique, patented SOLX whole blood collection system.
Under terms of the agreement, Haemonetics will pay up to $27 million in several stages, each of which is contingent upon successful regulatory approvals of SOLX. Additionally, Haemonetics has agreed to pay a royalty on future sales of SOLX based products.
Haemonetics' current broad product offering includes automated blood collection and separation technologies for the red blood cell collection process.
Hemerus expects FDA approval in calendar year 2012. The storage solution is the result of research partially funded by the US Army, and invented by Dr. John Hess of the University of Maryland, and the late Dr. Tibor Greenwalt of the University of Cincinnati.
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by RTT Staff Writer
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