EQT Life Sciences Completes Vivasure Medical Sale
EQT Life Sciences is excited to share that it has finalized the sale of its portfolio company, Vivasure Medical, to Haemonetics Corporation. This transaction marks a significant milestone in the advancement of medical technology focused on enhancing patient healthcare outcomes.
Overview of Vivasure Medical's Technology
Vivasure Medical has made waves in healthcare with its innovative PerQseal® Elite system. This remarkable technology employs a unique bioabsorbable patch designed to seal large access sites within arteries or veins from the inside. The approach eliminates the need for sutures, presenting a fully absorbable solution ideal for structural heart and endovascular procedures.
Clinical Achievements and Regulatory Approvals
In recent years, Vivasure achieved critical milestones, including submitting its Premarket Approval application to the U.S. FDA for the PerQseal Elite system. Additionally, the product received the prestigious CE Mark approval in Europe, allowing for broader application in arterial and venous treatments. These achievements underline Vivasure's commitment to innovation within the field.
EQT's Journey with Vivasure
EQT Life Sciences has been instrumental in Vivasure's development since making a strategic investment during the Series C funding round in 2016. Over the years, EQT provided invaluable support, guiding Vivasure through various clinical studies and paving the way toward its market launch.
Financial Aspects of the Acquisition
The acquisition deal includes an upfront cash consideration of EUR 100 million, with potential additional payments reaching EUR 85 million based on future sales and the attainment of specific growth milestones. Such financial backing fully reflects the confidence in Vivasure's product and its market potential, enhancing value for both EQT and Haemonetics.
Statements from Key Stakeholders
Anne Portwich, Partner at EQT Life Sciences, expressed her pride in being part of Vivasure's journey. She emphasized the core of EQT's health economics strategy—supporting innovations that enhance patient treatment options and overall healthcare quality. In her words, "Supporting companies with products that make better treatments available to patients is what drives us. Venture capital plays a crucial role in this innovation journey."
Andrew Glass, the CEO of Vivasure Medical, echoed these sentiments, stating, "We are proud of our advancements in closure technology and grateful to everyone who supported our mission. Joining forces with Haemonetics will give us the scale and resources needed to accelerate the global availability of PerQseal Elite, allowing its clinical advantages to reach more physicians and patients around the world."
Ken Crowley, Vice President & General Manager of Interventional Technologies at Haemonetics, highlighted the strategic expansion made by acquiring Vivasure, noting that this addition enhances their portfolio of closure devices. He remarked, "Vivasure's clinical performance positions us to strengthen our leadership in the growing market for advanced closure technologies, ultimately benefiting both physicians and healthcare facilities with improved solutions."
Looking Ahead
This exciting acquisition represents a new chapter for both EQT Life Sciences and Vivasure Medical. As the healthcare landscape continues to evolve, the combination of EQT's investment acumen and Haemonetics' innovative medical solutions promises to deliver significant enhancements in patient care and outcomes.
Frequently Asked Questions
What is the significance of the sale of Vivasure Medical?
This sale allows Vivasure to leverage Haemonetics' global resources and expertise, facilitating the wider distribution of its innovative closure technology.
What technology does Vivasure's PerQseal Elite system use?
The PerQseal Elite system employs a bioabsorbable patch to seal access sites in arteries or veins, eliminating the need for sutures.
How much was the acquisition deal worth?
The upfront payment for the acquisition was EUR 100 million, with potential additional payments based on sales performance.
What role did EQT Life Sciences play in Vivasure's growth?
EQT Life Sciences supported Vivasure from its Series C investment in 2016, guiding the company through clinical development and toward market approval.
How will Haemonetics benefit from acquiring Vivasure?
This acquisition expands Haemonetics' range of closure devices, enhancing their position in the growing market for advanced closure technologies in the medical field.
