253 million US dollars! This Canadian medical fiber optic sensor manufacturer will be acquired

Recently, Haemantics Corporation, which focuses on providing innovative medical solutions with proprietary optical technology, announced that the company has reached a final agreement. According to the agreement, Haemonics will acquire all outstanding shares of Canadian fiber optic sensor manufacturer OpSens for CAD 2.90 per share.

This is an all cash transaction with a fully diluted equity value of approximately $253 million at the current exchange rate. The OpSens board of directors unanimously approved this transaction, but it still requires approval from shareholders and regulatory authorities. The acquisition is expected to be completed by the end of January 2024.

Optical technology intervention in cardiology
OpSens provides commercial and clinically validated optical technologies primarily used in interventional cardiology. OpSens's core products include SavvyWire ®， This is the world's first and only sensor guided three in one guide wire for TAVR surgery, which can serve as a pacemaker and pressure monitoring wire to advance the surgical workflow and potentially shorten patient hospitalization time.

The pressure guide wire sensors produced by it can improve clinical outcomes by accurately and consistently measuring fractional flow reserve (FFR) and diastolic pressure ratio (dPR), helping clinical doctors diagnose and treat patients with coronary artery disease.
In addition, OpSens also produces a series of fiber optic sensor solutions for medical devices and other critical industrial applications. Its flagship product "OptoWire" uses optical coherence tomography (OCT) to diagnose the severity of coronary artery stenosis and guide treatment such as angioplasty.

Stewart Strong, President of Haemonetics Global Hospitals, stated: By acquiring OpSens, we have expanded our leadership position in the field of interventional cardiology and strengthened our foundation for further growth and diversification. By leveraging OpSens's proprietary optical sensor technology, our global commercial infrastructure, and our relationships with top US hospitals performing TAVR and PCI surgeries, we have a strong opportunity to improve the standards of care for more doctors and patients worldwide. We are delighted Welcome OpSens's excellent team and look forward to advancing our shared commitment to maximizing patient benefits and value for our clients.

Fiber optic sensing as a breakthrough point
The use of innovative fiber optic sensor technology to expand the hospital business unit portfolio has become a breakthrough in the attractive interventional cardiology market. The product portfolio used by OpSens in TAVR and PCI solutions has a strong competitive advantage, with a total target market of approximately $1 billion. OpSens technology is also used in a range of medical and industrial applications, representing additional avenues for growth and diversification. In the future, both parties plan to strengthen cooperation in the following areas:

Utilize the commercial and geographic deployment of Haemonetics to accelerate adoption. OpSens's product portfolio has proven commercial success and is ready for long-term growth. Haemonetics relies on its VASCADE ® The commercial success of the vascular closure product portfolio, combined with a wide range of existing commercial and clinical infrastructure, will accelerate customer acquisition of OpSens products and potentially make SavvyWire a leading lead in TAVR surgery in the United States. In addition, the advantages of Haemonetics in the high growth international market will further penetrate OpSens products into these regions.

Promote long-term growth through additional products and market expansion opportunities. Haemonetics plans to further expand its hospital business through internal and external research and development, clinical, and other business development efforts based on the acquisition of OpSens. In the past few quarters, Haemonics has made additional strategic investments, which will further supplement OpSens's product portfolio and strengthen Haemonics' business advantage in interventional cardiology.

Source: OFweek