stockwatch.com Still looking for a Bloom and Burton comment on deal .
Globe says Opsens accepts $345-million offer
2023-10-11 08:29 ET - In the News
The Globe and Mail reports in its Wednesday edition that Quebec City heart technology maker Opsens has agreed to sell itself to Boston health care player Haemonetics for $345-million. The Globe's Sean Silcoff writes that it is the biggest acquisition of a Canadian medical device business since Boston Scientific bought Baylis Medical's cardiovascular devices unit for $1.75-billion (U.S.) early last year. Haemonetics has agreed to pay $2.90 a share for Toronto Stock Exchange-listed Opsens, or 50 per cent above its latest closing price. Opsens sells technology it has developed that uses fibre optic sensors and stainless-steel guidewires to assess and treat coronary ailments, including blocked arteries and heart valve issues. The 300-person company generated revenue of $31.6-million in the nine months ended May 31, up 33 per cent year-over-year. Much of its recent momentum has been driven by sales of its Savvywire product, which enables "faster and safer delivery of transcatheter aortic valve replacement, leading to better outcomes and lower cost," said David Martin, an analyst with Bloom Burton in Toronto. Mr. Martin said Opsens had been careful to launch Savvywire with a focus on training and working out early kinks.