BRAINTREE, Mass., Nov. 20 / -- Haemonetics Corporation, a global blood management company, confirmed today that it has acquired Haemoscope Corporation's TEG® Thrombelastograph® Hemostasis Analyzer business for $44 million cash. The companies previously announced their agreement on the acquisition. (See press release of October 30, 2007.)
Chris Lindop, Haemonetics' Chief Financial Officer, noted, "The TEG business acquisition is strategic and strengthens our vision of being a global leader in blood management for our customers. The business expands Haemonetics' product portfolio by providing clinicians with a diagnostic tool to optimize blood management practice."
The TEG business has annual revenues of approximately $16 million, growing more than 15% annually. Gross margin and operating margin are accretive to Haemonetics' existing business. The acquisition will be neutral to earnings per share in FY08 and accretive in FY09.
The transaction represents Haemonetics' third blood management-related acquisition this year. The Company previously acquired Information Data Management ("IDM"), a software provider to blood banks and testing laboratories, and Infonale, Inc., a provider of blood management consulting services to surgical hospitals.
Haemonetics has posted Frequently Asked Questions on the subject transaction on its website at http://www.haemonetics.com/site/content/km/factSheet.asp.
Haemonetics (NYSE:HAE) is a global healthcare company dedicated to providing innovative blood management solutions for our customers. Together, our devices and consumables, IT products, and consulting services deliver a suite of business solutions to help our customers improve clinical outcomes and reduce the cost of healthcare for blood collectors, hospitals, and patients around the world. Our technologies address important medical markets: blood and plasma component collection, the surgical suite, and hospital transfusion services. To learn more about Haemonetics, visit our web site at http://www.haemonetics.com/.
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Source: Haemonetics Corporation
CONTACT: Julie Fallon of Haemonetics Corporation, +1-781-356-9517, or Alternate Tel., +1-617-320-2401, firstname.lastname@example.org
Web site: http://www.haemonetics.com/