Medical technology company Haemonetics Corp. announced that it has entered into a definitive agreement to sell its Fajardo manufacturing operations to GVS, S.p.A, a provider of advanced filtration solutions for critical applications.
Under the terms of the agreement, upon closing, Haemonetics will retain all intellectual property rights to its proprietary blood filters currently manufactured at its Fajardo facility, while GVS will obtain certain operating assets, including manufacturing equipment and inventory and a sublease to the facility.
The financial terms of the agreement were undisclosed.
Haemonetics and GVS will also enter into a long-term supply and development agreement that will, among other things, grant GVS exclusive rights to manufacture and supply the blood filters currently produced at the Fajardo facility for Haemonetics.
As part of this transaction, Haemonetics employees who work in the Fajardo facility will become GVS employees.
“We continue to pursue operational excellence to offer our customers high quality products through an asset-lite approach,” said Haemonetics’ CEO Chris Simon. “We’re confident that GVS’ experience and scale in filtration will help us deliver reliable, cost-efficient products.”
This transaction is expected to close in the second quarter of calendar 2020, subject to customary closing conditions.
“We;re honored that Haemonetics, an industry leader and one of our long-term clients, has chosen GVS for this strategic partnership, which is testament to our technological and process capabilities,” stated Massimo Scagliarini, CEO of GVS.
“This collaboration will provide us with a new channel for R&D, stimulating the introduction of new products, ideas and solutions for the blood filtration market,” he said.
Haemonetics entered the Puerto Rico market in 2012, when it picked up the business assets of the blood collection, filtration and processing product lines of Pall Corporation, which still has operations in Fajardo.