Dive Brief:
- Haemonetics will acquire Vivasure Medical, an Ireland-based firm that makes a patch device for percutaneous vessel closure, the companies announced Friday.
- Haemonetics will pay 100 million euros upfront ($116.3 million), or about 52 million euros when including the value of certain previous investments and loans. Vivasure will be able to get an additional 85 million euros if it meets certain sales growth and other milestones.
- The acquisition is expected to bolster Haemonetics’ presence in the large-bore closure market, giving the company a bigger impact in fast-growing structural heart and endovascular procedures, Ken Crowley, general manager of interventional technologies at Haemonetics, said in a statement.
Dive Insight:
Vivasure has developed a biosorbable patch system that can seal large-bore incisions to the artery or vein from inside the vessel. The system, called PerQSeal Elite, received Europe’s CE mark last year for venous closure, after a previous indication allowed the device to be used in arterial procedures. Vivasure made a premarket approval application to the Food and Drug Administration last year, following results of a single-arm study that showed no complications after 30 days.
Needham analyst Mike Matson wrote in a note to clients that the Vivasure’s system should complement Haemonetics’ devices. The deal would allow Haemonetics to expand its vascular closure offerings into larger-bore procedures, such as transcatheter aortic valve replacement and endovascular aortic aneurysm repair.
Haemonetics estimates the total available market for large-bore closure at $300 million, Matson wrote, with Teleflex’s Manta as the only FDA-approved large-bore closure device in the U.S. market. However, Matson expects rising competition as other companies, such as Cordis, are poised to enter.
Haemonetics has focused on fast-growing heart procedures in other recent acquisitions, including its 2024 purchase of Attune Medical, which makes a device to protect the esophagus from injury during cardiac ablation procedures, and its 2021 buy of Cardiva Medical, which makes vascular closure systems.
