Haemonetics Set to Acquire OpSens

Medical technology company Haemonetics has entered into a definitive agreement to acquire OpSens, a medical device company focused on cardiology. Haemonetics will acquire the company by buying all outstanding shares for CAD $2.90 per share in an all-cash transaction “representing a fully diluted equity value of approximately USD $253 million at current exchange rate,” according to the press release.

The transaction opens the company to new financial and strategic benefits including the expansion of its hospital business unit portfolio with OpSens fiber optic sensor technology, used in transcatheter aortic valve replacement (TAVR) and percutaneous coronary intervention (PCI) procedures, in the interventional cardiology market. The fiber optic sensor portfolio offers Haemonetics access to the market, which has a total addressable market value of approximately $1 billion. OpSens line of products can also be used across different medical and industrial applications, according to the company, adding more avenues for growth and diversification.

Two OpSens products are SavvyWire and OptoWire. SavvyWire is a sensor-guided three-in-one guideware for TAVR procedures and acts as pacing and pressure monitoring. The wire, according to OpSens, advances the workflow of the procedure and enables the potential of shorter patient hospital stays. OptoWire is a pressure guidewire intended to improve outcomes by accurately and consistently measuring Fractional Flow Reserve and diastolic pressure ratio to aid in the diagnosis and treatment of patients with coronary artery disease.

Introducing OpSens products to Haemonetics already-established international markets will also create opportunities for further penetration in additional regions, as will the company’s plan to further expand its hospital business through internal and external R&D, clinical, and other business development efforts.

Of note, the acquisition will be affected by way of an arrangement under the Business Corporations Act (Quebec). The companies said the transaction is expected to close by the end of January 2024.