Haemonetics draws down $110 million for OpSens acquisition

By Mary-Katherine Stinson

Lexington, Ky., Dec. 12 – Haemonetics Corp. financed its previously announced acquisition of medical device cardiology company OpSens Inc. through a combination of cash-on-hand and a $110 million draw under its revolving credit facility, according to a press release.

Haemonetics acquired all outstanding shares of OpSens for C$2.90 per share in the all-cash transaction, representing a fully diluted equity value of approximately $255 million at the current exchange rate.

As a result, Haemonetics' estimates that its net debt to EBITDA ratio, as set out in its existing credit agreement, will be approximately 2.3x.

Haemonetics stated in the release that it expects to pay down the majority of the outstanding balance of the revolver within the next few months.

Haemonetics is a Braintree, Mass.-based health care company that provides blood management services.

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