Haemonetics Corporation has announced that it has entered into a definitive agreement to acquire all outstanding shares of OpSens. According to data captured in the LevinPro HC database, this transaction represents the 86th Medical Devices transaction of 2023.
OpSens is being acquired for $2.90 CAD per share in an all-cash transaction representing a fully diluted equity value of approximately $253 million USD at the current exchange rate.
OpSens is a Canadian medical device cardiology-focused company. Its flagship product, the OptoWire, is a second-generation fiber optic pressure guidewire designed to provide the lowest drift in the industry and excellent lesion access. The OptoWire has been used in the diagnosis and treatment of more than 90,000 patients in more than 30 countries. It is approved for sale in the United States, European Union, Japan and Canada. According to its fourth quarter and FY 2022 financial results, OpSens’ total revenue was $35.3 million in FY 2022, compared with $34.5 million in FY 2021.
Based in Boston, Massachusetts, Haemonetics Corporation designs, manufactures and markets automated systems for the collection, processing and surgical salvage of blood. Founded in 1971, the company has expanded to have offices located in 16 countries.
According to Haemonetics’ original deal press release from October 10, following the acquisition, Haemonetics’ net debt to EBITDA ratio is expected to be approximately 2.1x. Haemonetics plans to finance this acquisition through a combination of cash and a revolving credit facility. The transaction is expected to close by the end of January 2024.
Goldman Sachs served as financial advisor for Haemonetics and DLA Piper as legal advisor. Piper Sandler served as OpSens’ financial advisor, while Norton Rose Fulbright served as its legal advisor.
