Baxter announced in January its plan to acquire the stand-alone recombinant thrombin Recothrom and Preveleak surgical sealant for vascular reconstruction.
“We are excited to add both Recothrom and Preveleak to our portfolio of hemostats and sealants to offer surgeons additional options that address different situations when intraoperative bleeding can occur,” advanced surgery president Wil Boren said in prepared remarks. “Our top priority right now is working with customers and distributors to ensure a smooth transition.”
Baxter said it expects its new purchases to add “modestly” to its adjusted earnings per share this year and increasingly after that. The deal includes possible milestone payments for an unspecified amount, the Deerfield, Ill.-based company said.
Recothrom is a stand-alone recombinant thrombin-based product with indications as an aid to hemostasis to control oozing blood and minor bleeding from capillaries and small venules when control of bleeding by standard surgical techniques is ineffective or impractical. Preveleak is designed to seal suture holes during surgical repair of the circulatory system and to reinforce sutured connections between blood vessels. Sales of both products totaled approximately $56 million during the 12 months preceding Sept. 29, 2017.
The post Baxter closes $153m hemostat, sealant asset buy from Mallinckrodt appeared first on MassDevice.