Vivasure Medical, a company pioneering novel fully absorbable technology for percutaneous vessel closure, announced that the company has been acquired by Haemonetics Corporation in a transaction valued up to €185M on completion of certain milestones.
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Based in Galway, Ireland, Vivasure is focused on the development of advanced polymer implants and delivery systems, primarily focused on minimally invasive vessel closure in cardiology, interventional radiology, and vascular surgery. In 2022, Vivasure Medical received a strategic investment from Haemonetics, which included an option to acquire Vivasure Medical.
Earlier this year, Vivasure Medical announced the submission of a Premarket Approval (PMA) application to the U.S. Food and Drug Administration (FDA) for its PerQseal Elite vascular closure system for arterial procedures, building upon the successful results of the PATCH study as well as positive clinical use in Europe. The company previously received European CE mark approval for an expanded indication for PerQseal Elite, covering large-bore venous closure following its first CE mark approval for arterial procedures, positioning PerQseal Elite as the first fully bioresorbable, sutureless solution in Europe for both arterial and venous access closure.
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“We’re extremely proud of the progress made in advancing closure technology, and grateful to the clinicians who supported Vivasure’s mission,” said Andrew Glass, CEO of Vivasure Medical. “Joining Haemonetics provides the global scale and resources to accelerate the availability of PerQseal Elite and bring its clinical benefits to more physicians and patients worldwide.”
Besides Haemonetics, Vivasure was also backed by Fountain Healthcare Partners, Orchestra BioMed Holdings Inc. , LSP Health Economics Fund managed by the EQT Life Sciences team, Panakès Partners, and Evonik Venture Capital. In addition, Vivasure Medical received support from Enterprise Ireland, Western Development Commission, and European Investment Bank.
“We want to thank the Vivasure employees and founders for their dedication and commitment. We also want to recognize the board, investors, and government bodies for their phenomenal support over the years,” said Ger Brett, Chief Operations Officer and Co-founder of Vivasure Medical. “We’re proud to make PerQseal in Ireland and distribute it around the world.”
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Source- businesswire
