Haemonetics (NYSE:HAE) yesterday closed the $10 million sale of a plant in South Carolina to CSL Plasma.
The Union, S.C., facility makes the liquid saline and sodium citrate solutions used in plasma collection. CSL Plasma, the supplier for CSL Behring, will own and operate the plant, took on “substantially all” of the roughly 200 Haemonetics employees there, Braintree, Mass.-based Haemonetics has said.
The deal, announced May 14, prompted Haemonetics to cut its top-line growth forecast for fiscal 2020 to 3% to 5%, down from 5% to 7% previously. Adjusted earnings per share are still pegged to be $2.80 to $3.00, the Braintree, Mass.-based company said.
The deal does not include other assets in Union, including accounts receivable, customer contracts and FDA product approvals. The companies agreed to a transition services agreement that calls for CSL to make the solutions under the Haemonetics approvals until it wins regulatory nods of its own, according to a regulatory filing. Haemonetics said it would continue to supply the products to contract manufacturer customers.
The sale will also mean a $49 million impairment charge during its fiscal first quarter, the company said.
HAE shares were up 1.5% to $102.70 apiece today in late-morning trading.
