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Haemonetics To Sell Fajardo, Puerto Rico, Manufacturing Operations To GVS S.p.A - Quick Facts

Medical technology company Haemonetics Corp. (HAE) announced Wednesday that it has entered into a definitive agreement to sell its Fajardo, Puerto Rico, manufacturing operations to Italy-based GVS S.p.A, a leading provider of advanced filtration solutions for critical applications.

Under the terms of the agreement, Haemonetics will retain all intellectual property rights to its proprietary blood filters currently manufactured at its Fajardo facility upon closing, while GVS will obtain certain operating assets, including manufacturing equipment and inventory and a sublease to the facility.

This transaction is expected to close in the second quarter of calendar 2020, subject to the satisfaction of customary closing conditions.

Haemonetics and GVS will also enter into a long-term supply and development agreement that will, among other things, grant GVS exclusive rights to manufacture and supply the blood filters currently produced at the Fajardo facility for Haemonetics. As part of this transaction, Haemonetics employees who work in the Fajardo facility will become GVS employees.

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