Haemonetics Corp. inked a deal with Blood Centers of America Inc. that will see the community blood center cooperative’s members use Haemonetics’ blood management software.
Blood Management
Haemonetics expands ahead of new product launch
Haemonetics Corp. laid down $12.5 million in cash for Engineering and Research Associates Inc.‘s (which does business for now as SEBRA) blood collection and processing business.
The deal, expected to close “within the next several weeks,” brings SEBRA’s line of biological collection and processing equipment under the Braintree, Mass.-based blood management products maker’s umbrella.
That includes the Tucson, Ariz.-based company’s radio-frequency tube sealers, whole blood collection devices called “shakers” and mobile collection and ancillary equipment.
UPDATE: Russian oligarch is Biopure’s new owner
A Russian industrialist whose holdings include banks, mines, ships and the French gourmet emporium Hediard now owns the remains of Biopure Corp. too.
Sergei Pugachev, through a recently created U.S. subsidiary of his Luxembourgh-based OPK Luxadvor SA, acquired the lion’s share of Biopure’s remaining assets with a $4.05 million bid during an Aug. 18 bankruptcy court auction in Boston.
Biopure to pay $600,000 to settle shareholder suit
Just days before the close of a court-sanctioned bankruptcy auction of its assets,Biopure Corp. struck a deal to settle a long-simmering shareholder suit.
Under the terms of the proposed settlement, disclosed in court documents filed late last week, the Cambridge-Mass.-based blood substitute maker will pay $600,000 to investors contending they were duped by Biopure executives who allegedly concealed negative news about the company’s artificial blood products. Money for the settlement will come from a directors and officers insurance policy covering legal costs associated with management errors and omissions.
Haemonetics has a bloody good first quarter
It was a bloody good first quarter for Haemonetics Corp., which managed to post sales and earnings increases and improve its margins during the three months ended June 27, but still failed to meet Wall Street’s revenue growth expectations.
The Braintree, Mass.-based blood management products maker posted sales of $154.1 million, up 6.9 percent compared with $144.1 million during the first quarter of fiscal 2009, and net income of $18.1 million.
That’s a 26 percent income increase compared with the same period last year, when Haemonetics posted net income of $14.3 million.
NASDAQ pounds another nail into Biopure’s coffin
The NASDAQ stock exchange hammered another nail into Biopure Corp.‘s coffin, officially de-listing the Cambridge, Mass.-based blood substitue maker as it descends into Chapter 11 bankruptcy.
Biopure stock will no longer be offered on the exchange once trading opens August 7. Bids for the company’s assets are due a week later, ahead of an August 20 asset sale.
Details emerge on Biopure bankruptcy
Bankrupt Biopure Corp. is selling the bulk of its assets for $2.6 million to OPK Biotech LLC, according to court documents filed last night.
As part of the proposed deal, OPK will provide a $500,000 infusion of interim financing to keep the blood substitute maker afloat through early September. OPK, registered with the Delaware Department of Corporations on July 7, also agreed to assume certain liabilities.
Biopure files for bankruptcy, announces assets sale to OPK Biotech
Biopure Corp. filed for Chapter 11 bankruptcy protection after a series of setbacks including chicanery by former company leaders and a series of Food & Drug Administration denials made it impossible for the Cambridge, Mass.-based blood substitute maker to survive.
Biopure said it agreed to sell its assets to OPK Biotech LLC.
That’s bad news for Biopure stockholders, as the company says it’s doubtful they’ll recoup their investments after creditors are paid back from the proceeds of the OPK deal.
Biopure gets NASDAQ delisting notice
Biopure Corp. is slated to be de-listed from the NASDAQ exchange after its stockholders’ equity fell below the exchange’s $2.5 million minimum threshold.
The Cambridge-based blood substitute maker has 15 days to submit a plan to correct the problem, but said it has no plans to submit such a plan.
Biopure sells off Penn. property, offers benefactors a chance to bail
Details of how struggling Biopure Inc. is working to stay afloat emerged Thursday when the company revealed it sold its main manufacturing plant in Pennsylvania for $1.2 million.
Biopure: We’ll be bankrupt by the end of July unless we find a buyer
Biopure Corp. has enough cash on hand to fund operations only until the end of July and is actively seeking acquirers to stave off bankruptcy, according to a filing with the federal Securities and Exchange Commission.