On December 12, 2023, global medical technology company Haemonetics Corp. (NYSE: HAE), closed its previously-announced acquisition of all outstanding shares of Canadian medical device maker OpSens, Inc. in an all-cash transaction valued at approximately $345 million (USD$255 million).
As agreed, OpSens' common shares will cease trading in the public market and will be delisted from the Toronto Stock Exchange and withdrawn from the OTCQX.
In addition to the expected immediate and longer-term financial benefits for Haemonetics, the acquisition expands the company's Hospital business unit portfolio with innovative fiber optic sensor technology in the attractive interventional cardiology market.
Haemonetics financed the acquisition through a combination of cash-on-hand and a $110 million draw under its revolving credit facility.
DLA Piper’s cross-border team advising Haemonetics was led by Adam Ghander in the US and Robert Fonn and Ted Maduri in Canada. The deal team representing Haemonetics also included Carly Meredith, Jamie Mandell, Michael Jamieson, Marc Philibert, Alexandre Lamoureaux, Francois Tremblay, Geoff Mowatt (IP), Elexa Clement, Marley Mintzberg, Kevin Wright (foreign investment), Nicole Nazareth, Alan Sarhan, Kevin Fritz (tax), Rownock Zamani, Annie-Claude Authier, David Spratley (IP), Alexis Bass, Nathalie Benoit, and Katrina Kotarba.
Norton Rose Fulbright advised OpSens with a team led by Emmanuel Grondin that included Mihnea Bantoiu; Véronique Barry; Philippe Carignan; Derek Chiasson; Pierre Déry; Andrew Eklund; Julie Lacourcière; Renée Loiselle; François-David Paré; Rujuta Patel; William Provencher-Campeau; Paul Raymond; Charles-Antoine Renaud; Pierre-François Tétreault.