Haemonetics to Acquire Cardiva Medical

January 20, 2021—Haemonetics Corporation announced that it has entered into a definitive agreement to acquire Cardiva Medical, Inc., a privately held 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 $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.

According to the announcement, Cardiva’s portfolio includes the Vascade and Vascade MVP catheter-based vascular access site closure devices. Both devices include Cardiva’s collapsible disc technology and a resorbable collagen patch to achieve hemostasis.

The Vascade device is designed for small-bore femoral arterial and venous closure to significantly reduce access site complications compared with manual compression. It is generally used in interventional cardiology and peripheral vascular procedures.

The Vascade MVP system is designed for midbore multiaccess femoral venous closure, generally used in electrophysiology procedures, and is FDA approved for use after cardiac ablation procedures requiring two or more access sites within the same vessel.