AHSC AND HAEMONETICS MANAGEMENT TEAM AGREE TO SALE
Executive Summary
AHSC AND HAEMONETICS MANAGEMENT TEAM AGREE TO SALE of the American Hospital division to a group headed by Haemonetics President John White. According to an Oct. 21 release that announced the signing of a definitive sale agreement, White "is leading a management buyout to acquire American's Haemonetics assets and foreign subsidiaries." Terms of the transaction were not disclosed. The American/Haemonetics deal follows by one week AHSC's sale of its McGaw subsidiary to Colgate's Kendall division. Colgate had apparently outbid a McGaw management group which had sought control of that company through a leveraged buyout. American acquired Haemonetics in 1983 in an exchange of stock. Headquartered in Braintree, Massachusetts, Haemonetics designs, manufactures, markets and services blood-processing systems and related disposables used to collect blood components for transfusion, remove blood components from patients and salvage blood during surgery. The sale of Haemonetics is part of the ongoing process to satisfy antitrust requirements related to the American/Baxter merger. The Justice Department has recommended that in addition to McGaw and Haemonetics, American sell off its surgeons/procedure gloves facility in Tucson, Arizona.
You may also be interested in...
Part D Discount Liability Coming Into Focus: CMS Releases Drug Cost Data
Newly released Medicare Part D data sheds light on the sales hit that branded pharmaceutical manufacturers will face when the coverage gap discount program gets under way in 2011
FDA Skin Infections Guidance Spurs Debate On Endpoint Relevance
FDA appears headed for a showdown with clinicians and the pharmaceutical industry over the proposed new clinical trial endpoints for acute bacterial skin and skin structure infections, the guidance's approach for justifying a non-inferiority margin and proposed changes in the types of patients that should be enrolled in trials
Shire Hopes To Sow Future Deals With $50M Venture Fund
Specialty drug maker Shire has quietly begun scouting deals with a brand-new $50 million venture fund, the latest of several in-house investment arms to launch with their parent company's pipelines, not profits, as the measure of their worth