Haemonetics announced the acquisition of Vivasure Medical, a Galway, Ireland-based company that develops next-gen technology for percutaneous vessel closure.

Vivasure’s PerQseal Elite system uses a proprietary bioabsorbable patch to seal large-bore (up to 26F) arteriotomies and venotomies from inside the vessel. It offers a sutureless, fully absorbable solution for structural heart and endovascular procedures.

The company submitted a premarket approval (PMA) application to the U.S. Food and Drug Administration (FDA) for the PerQseal Elite arterial closure system and earned CE mark approval in Europe for both arterial and venous indications. Results from the prospective, single-arm, multi-center ELITE arterial study showed ease of use with no need for pre-close, with 0% major complications at thirty-day follow-up, and immediate median time to hemostasis.

The deal includes an upfront cash payment of €100 million and up to an additional €85 million in contingent consideration based on sales growth and achievement of certain other milestones. Haemonetics financed this transaction through available cash on hand.

“Acquiring Vivasure expands Haemonetics’ complete range of closure devices with new and clinically differentiated technology to bolster our presence in the large-bore closure market and our impact in fast-growing structural heart and endovascular procedures,” said Ken Crowley, VP and GM, Interventional Technologies at Haemonetics. “With strong clinical performance and safety data, PerQseal Elite positions us for increased leadership in advanced closure, as we leverage our commercial scale and operational synergies to deliver increased value to physicians and hospitals.”

“We’re extremely proud of the progress made in advancing closure technology, and grateful to the clinicians, employees, board members, investors and government bodies who supported Vivasure’s mission. 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,” said Andrew Glass, CEO of Vivasure Medical.