Vivasure Medical, a Galway, Ireland-based developer of fully absorbable technology for percutaneous vessel closure, said it has been acquired by Haemonetics Corporation in a transaction valued at up to €185 million (about $215 million), including milestone-based payments.
Haemonetics said the acquisition adds Vivasure’s PerQseal Elite vascular closure system to its portfolio, expanding its position in large-bore closure for structural heart and endovascular procedures. PerQseal Elite uses a proprietary bioabsorbable patch to seal large-bore arteriotomies and venotomies from inside the vessel, offering a sutureless, fully absorbable approach for closure following catheter-based interventions.
Vivasure has been developing advanced polymer implants and delivery systems for minimally invasive vessel closure across cardiology, interventional radiology, and vascular surgery. The company has an integrated R&D and ISO 13485-certified manufacturing facility in Galway.
The companies highlighted Vivasure’s regulatory and clinical progress, including submission of a Premarket Approval application to the U.S. Food and Drug Administration for PerQseal Elite for arterial procedures and CE Mark approval in Europe for both arterial and venous indications. Haemonetics cited results from the ELITE arterial study showing no need for pre-close, 0% major complications at 30-day follow-up, and immediate median time to hemostasis in the per-protocol population.
Under the terms disclosed by Haemonetics, the deal includes an upfront cash payment of €100 million, adjusted for prior Haemonetics investments and loans to Vivasure and other customary closing adjustments, plus up to €85 million in contingent consideration tied to sales growth and other milestones, also subject to adjustments related to prior investments and loan amounts. Haemonetics said it financed the acquisition using cash on hand.
Haemonetics previously made a strategic investment in Vivasure in 2022 that included an option to acquire the company. Vivasure’s backers have included Fountain Healthcare Partners, Orchestra BioMed Holdings, LSP Health Economics Fund managed by the EQT Life Sciences team, Panakès Partners, and Evonik Venture Capital, along with support from Enterprise Ireland, the Western Development Commission, and the European Investment Bank.
KEY QUOTES:
“Acquiring Vivasure expands Haemonetics’ complete range of closure devices with new and clinically differentiated technology to bolster our presence in the large-bore closure market and our impact in fast-growing structural heart and endovascular procedures. With strong clinical performance and safety data, PerQseal Elite positions us for increased leadership in advanced closure, as we leverage our commercial scale and operational synergies to deliver increased value to physicians and hospitals.”
Ken Crowley, Vice President & General Manager, Interventional Technologies, Haemonetics
“We’re extremely proud of the progress made in advancing closure technology, and grateful to the clinicians, employees, board members, investors and government bodies who supported Vivasure’s mission. Joining Haemonetics provides the global scale and resources to accelerate the availability of PerQseal Elite and bring its clinical benefits to more physicians and patients worldwide.”
Andrew Glass, Chief Executive Officer, Vivasure Medical
“We want to thank the Vivasure employees and founders for their dedication and commitment. We also want to recognize the board, investors, and government bodies for their phenomenal support over the years. We’re proud to make PerQseal in Ireland and distribute it around the world.”
Ger Brett, Chief Operations Officer and Co-founder, Vivasure Medical
