Haemonetics Corp. continued to take advantage of a buyer’s market with its acquisition of Neoteric Technology Ltd., just weeks after buying a California software company.
Neoteric, a healthcare software provider, makes the BloodTrack Suite, a group of software applications that remotely track, allocate, release and dispense blood units throughout a hospital. The Vancouver-based firm, founded in 1997 by Geof Auchinleck, says its products are used in over 100 hospitals in North America and Europe.
Haemonetics CEO Brian Concannon said the company aims to increase revenues by 10 percent to 12 percent this year, achieving at least 1 percent to 2 percent of that growth through acquisitions.
The Neoteric and Altivation Software buyouts met about half of that objective, he added.
It’s a buyer’s market out there, ripe for companies like Haemonetics, flush with about $356 million in assets and sales of $516 million last year, to continue their shopping sprees.