Haemonetics to Acquire Attune Medical: Definitive Agreement Confirmed

Haemonetics Corporation (NYSE: HAE), a leading global medical technology firm dedicated to enhancing patient outcomes, has revealed its definitive agreement to acquire Attune Medical, a Chicago-based private company renowned for producing the ensoETM® proactive esophageal cooling device. This device, the sole FDA-cleared temperature regulation tool for safeguarding the esophagus during radiofrequency (RF) cardiac ablation procedures.

Haemonetics Corporation, a global leader in medical technology, has announced a definitive agreement to acquire Attune Medical, a Chicago-based company known for its ensoETM proactive esophageal cooling device. The agreement involves an initial cash payment of $160 million at closing, with additional contingent payments based on sales growth and milestones achieved over the following three years. The acquisition is anticipated to be finalized in the first quarter of Haemonetics’ fiscal year 2025, pending customary closing conditions.

The ensoETM device, designed to reduce esophageal injury during RF cardiac ablations, holds significant promise in treating atrial fibrillation, a condition affecting millions in the U.S. Clinical studies have shown reduced procedure times, patient readmissions, and improved long-term success rates with its use.

Stewart Strong, President of Haemonetics’ Global Hospital division, sees the acquisition as an opportunity to strengthen the company’s position in electrophysiology while complementing its Vascular Closure leadership. He emphasizes the device’s ability to enhance patient outcomes without requiring hospitals to invest in costly new ablation systems.

Attune Medical’s CEO, Jay Istvan, expresses excitement about joining Haemonetics, citing the company’s strong presence in EP and critical care and expansive international channels. He believes Haemonetics is well-positioned to extend ensoETM’s benefits globally and elevate standards of care.

Attune Medical’s revenue surged to approximately $22 million in the fiscal year ending December 31, 2023, reflecting substantial growth. Haemonetics foresees immediate revenue and earnings growth post-acquisition.

The acquisition will be financed through a combination of cash reserves and a draw on Haemonetics’ revolving credit facility. Legal counsel was provided by DLA Piper for Haemonetics, while William Blair served as financial advisor and Perkins Coie as legal advisor for Attune Medical.

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