RTTNews | Jul 20, 2020 03:03AM EDT

03:03 Monday, July 20, 2020 (RTTNews.com) - Grifols (GRFS) said that it has executed purchase agreements with the South Korean-based GC Pharma (Group) whereby Grifols will acquire the Montreal-based plasma fractionation facility and two purification facilities, along with 11 U.S.-based plasma collection centers for US$460 million.

Once the facilities are fully licensed and approved, Grifols will become the only large-scale commercial manufacturer of plasma products in Canada, with a fractionation capacity of 1.5 million liters annually, the company said in a statement.

Grifols plans to be ready to manufacture IVIG and Albumin in the facilities to supply the Canadian market starting in 2023.

As part of the transaction, Grifols has also committed to supplying certain output of plasma arising out of the Green Cross Collection Centers to GC Pharma (Group) for a 24-month period.

The completion of the transaction is expected to close prior to the end of 2020.

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