Benzinga | Jan 20, 2021 06:47AM EST

Haemonetics To Acquire Cardiva Medical For Upfront Cash Payment Of $475M At Closing And Up To Additional $35M In Contingent Considerations

BOSTON, Jan. 20, 2021 /PRNewswire/ -- Haemonetics Corporation (NYSE:HAE) ("Haemonetics"), a global medical technology company focused on delivering innovative medical solutions to drive better patient outcomes, today announced that it has entered into a definitive agreement to acquire privately-held Cardiva Medical, Inc., ("Cardiva") an industry-leading manufacturer of vascular closure systems based in Santa Clara, California. Under the terms of the agreement, Haemonetics will acquire Cardiva for an upfront cash payment of $475 million at closing and up to an additional $35 million in contingent consideration based on sales growth. The acquisition is subject to customary closing conditions and is expected to be completed in the first quarter of calendar 2021.