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Haemonetics Announces Definitive Agreement to Acquire Global Med Technologies, Inc.
Strategic Acquisition Broadens Blood Management Software Solutions to Customers across the Blood Supply Chain
EL DORADO HILLS, Calif., BRAINTREE, Mass., and LIMONEST, France, Feb. 1 /PRNewswire-FirstCall/ --
Haemonetics Corporation (NYSE:HAE) and Global Med Technologies, Inc. (OTC:GLOB) (BULLETIN BOARD: GLOB) today announced a definitive agreement under which Haemonetics will acquire Global Med for approximately $60 million in a cash tender offer
As a global leader in blood management solutions, Haemonetics helps plasma fractionators, hospitals and blood collectors to improve clinical care and lower costs by optimizing the collection, processing, and use of scarce blood resources. Haemonetics' broad product offering includes blood collection and separation technologies, surgical blood salvage systems, and diagnostic products for enhanced blood management in the surgical setting. Haemonetics also markets information technology platforms and consulting services to help manage the blood supply chain and improve blood management practices
Global Med is a healthcare information technology company which markets a breadth of software solutions and services that span the blood supply continuum, from blood collection to the hospital transfusion center to the patient care environment
Under the terms of the agreement, Haemonetics will commence a tender offer to purchase all outstanding shares of Global Med's common stock at $1.22 per share and preferred stock at approximately $1,694 per share. The tender offer is conditioned on the tender of a majority of the outstanding shares of Global Med's common and preferred stock, and subject to other customary closing conditions. The $60 million estimated net value of the transaction is based on Global Med's 49 million diluted common equivalent shares outstanding. Haemonetics will fund the acquisition from available cash and anticipates that it will continue to have more than $100 million in cash on the balance sheet at fiscal year end
Brian Concannon, President and CEO of Haemonetics, said, "Efficient blood management is now being recognized as a critical component of improving clinical care while reducing cost, and Haemonetics is the only company positioned to address the needs of both the blood collection and transfusion markets. Software is a key enabler for blood management, enhancing productivity, regulatory compliance and quality. Global Med's software offerings are a strategic complement to our existing products and will allow us to offer customers an end-to-end software solution for blood management, from donor recruitment to the patient transfusion."
Michael I. Ruxin, M.D., Chairman and CEO of Global Med, added, "The integration of our two companies is very exciting. We share a common strategy to provide blood management tools to hospitals and blood centers that improve patient care and reduce costs. In the blood management arena, Global Med brings a broad-based information technology platform offering that spans the blood supply chain, while Haemonetics brings devices, software, and consulting services for optimal blood management. This merger is especially advantageous to our customers, as well as the blood center and hospital transfusion industry because we believe our combined organizations can provide expanded access to new technologies and innovative products while leveraging the efficiencies of a larger organization."
Global Med's domestic companies include Wyndgate Technologies®, a leader in software products and services for donor centers and hospital transfusion services; eDonor®, which offers web-based donor relationship management systems; PeopleMed®, which implements cost-effective software validation, consulting and compliance solutions to hospitals and donor centers, and Hemo-Net®, which offers hosting solutions for those customers wishing to outsource the operation and maintenance of their databases. Global Med's European subsidiary, Inlog SA, is a leading developer of donor center and transfusion management systems as well as cellular therapy software, laboratory information systems and quality assurance medical software systems internationally. Global Med had $24 million in revenues through the first nine months of its current fiscal year
Haemonetics expects the transaction to close in its fourth quarter fiscal 2010. Excluding the impact of one time costs associated with the transaction, Haemonetics anticipates minimal dilution to earnings per share in fiscal 2010 which is included in its updated guidance range of $2.80-$2.85 per share. The Company will review further details on its third quarter fiscal 2010 earnings webcast scheduled for today, February 1, 2010, at 10:00 am Eastern time. To access the webcast, visit http://phx.corporate-ir.net/phoenix.zhtml?p=irol-eventDetails&c=72118&eventID= 2662404
Haemonetics has posted frequently asked questions on its website at http://www.haemonetics.com/site/content/km/factSheet.asp
About Global Med Technologies, Inc
Global Med Technologies, Inc. (OTC:GLOB) (BULLETIN BOARD: GLOB) is an international healthcare information technology company which develops regulated and non-regulated products and services for the healthcare industry. As a leading provider of blood and laboratory systems and services, Global Med's products are deployed in 20 countries and serve over 2,100 transfusion centers, blood banks and laboratory sites
Global Med's division, Wyndgate Technologies®, is a leader in software products and services for donor centers and hospital transfusion services. Wyndgate's eDonor® product offers innovative web-based tools for donor relationship management. Hemo-Net®, Wyndgate's remote hosting service, provides secure, economical solutions for healthcare organizations. PeopleMed®, Inc., a Global Med subsidiary, implements cost-effective software validation, consulting and compliance solutions to hospitals and donor centers
Global Med's European subsidiary, Inlog, SA, is a leading developer of donor center and transfusion management systems as well as cellular therapy software, laboratory information systems and quality assurance medical software systems internationally
About Haemonetics Corporation
Haemonetics (NYSE:HAE) is a global healthcare company dedicated to providing innovative blood management solutions for our customers. Together, our devices and consumables, information technology platforms, and consulting services deliver a suite of business solutions to help our customers improve clinical outcomes and reduce the cost of healthcare for blood collectors, hospitals, and patients around the world. Our technologies address important medical markets: blood and plasma component collection, the surgical suite, and hospital transfusion services. To learn more about Haemonetics, visit our web site at http://www.haemonetics.com/
Additional Information
This press release is for informational purposes only and is not an offer to buy or the solicitation of an offer to sell any securities. Atlas Acquisition Corp.'s, a wholly-owned subsidiary of Haemonetics, tender offer for the shares of Global Med's capital stock has not commenced. The solicitation and the offer to buy shares of Global Med's capital stock will only be made pursuant to a tender offer statement on a Schedule TO, including an offer to purchase and other related material that Atlas Acquisition Corp. intends to file with the SEC. Global Med will file a solicitation/recommendation statement on Schedule 14D-9. Once filed, Global Med stockholders should read all of these materials carefully prior to making any decisions with respect to the offer because they contain important information
Once filed, Global Med stockholders will be able to obtain the tender offer statement on Schedule TO, the offer to purchase, and related materials with respect to the offer, free of charge at the SEC's website at http://www.sec.gov/, from the information agent named in the tender offer materials, or by sending a written request to Atlas Acquisition Corp. Requests for documents from Atlas Acquisition Corp. or Haemonetics should be submitted in writing to Haemonetics, Attn: Investor Relations, 400 Wood Road, Braintree, MA 02184 USA. In addition, Haemonetics and Global Med each file annual, quarterly, and other reports with the SEC. Copies of these reports or other SEC filings are available for free at the SEC public reference room at 100 F Street, NE, Washington, DC 20549 and http://www.sec.gov/
This press release contains forward-looking statements that involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of Haemonetics and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including the expected benefits and costs of the transaction; management plans relating to the transaction; the expected timing of the completion of the transaction; the ability to complete the transaction considering the various closing conditions; any statements of the plans, strategies and objectives of management for future operations, including the execution of integration plans; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the possibility that expected benefits of the transaction may not materialize as expected; that the transaction may not be timely completed, if at all; that, prior to the completion of the transaction, Global Med's business may not perform as expected due to transaction-related uncertainty or other factors; that the parties are unable to successfully implement integration strategies; and other risks that are described from time to time in Haemonetics' and Global Med's Securities and Exchange Commission reports, including but not limited to the risks described in Haemonetics' Annual Report on Form 10-K for its fiscal year ended March 28, 2009 and Global Med's Annual Report on Form 10-K for its fiscal year ended December 31, 2008. The foregoing list should not be construed as exhaustive. The forward-looking statements are based on estimates and assumptions and are believed to be reasonable, though are inherently uncertain and difficult to predict. Actual results and experience could differ materially from the forward-looking statements. Haemonetics assumes no obligation and does not intend to update these forward-looking statements except as required by law
Contact: Haemonetics Corporation Julie Fallon Tel. (781) 356-9517 Alt. Tel. (617) 320-2401
Global Med Technologies, Inc
Michael I. Ruxin, M.D
Tel. (303) 238-2000
DATASOURCE: Haemonetics Corporation
CONTACT: Haemonetics Corporation, Julie Fallon, +1-781-356-9517, Alt
Tel. +1-617-320-2401; or Global Med Technologies, Inc., Michael I. Ruxin,
M.D., +1-303-238-2000
Web Site: http://www.haemonetics.com/.
ya my bad 300k was a sell could have been profit taker!! well the conference is over in FL and theve announced another investor meeting in NYC the 29th i believe so may be worth the hold through next week imo
the 300k @ $1 was a sell not a buy, I dumped at 1.05 after I saw that.
GLOB is poised to go to the moon tomorrow imo insiders were exercising thier stock options. today someone bought 300k @ 1.00 they have faith in it as well. stay tuned for pr today after conference
I need to tell you when i was posting about the pump and dump i thought i was posting about GVBP when i was so harsh.I do believe that there are posters here that were not here 4 days ago but this seems to be a semi solid co.
GLOB has been in the same range for years its not some obscure company that was trading at 2 cents so im gunna hold and see what happens.Barcharts gives it a 100% buy.GL
lets hope we see some damn action tomorrow
Hold, this stock will do wonders this week and be a good long hold.
Hold, this stock will do wonders this week and be a good long hold.
y not hold until tomorrows announcement? could go either way on news, unless it pops today to a level you are comfortable selling.
yesterday you had some other tune:
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=41681039
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=41685279
I was not surprised about todays dump as I predicted;
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=41680152
BUT I agree, on the next news you could expect a 'sell on news' day,...
IMO This GLOB is a scam and all management is pumping up the stock with all new posters.What a joke.
it's jumping back, but I've sold all of my stock... and this is my last post...
if u havtn sold yet u are part of the dump as am i
why??? is there any news release or what??
we are still in 1st hour guys, relaxxx, this thing gonna go up
We will go back up guys big news on the 23rd
Everyday this week we will keep going up just hang on fellow traders
Just some profit taking just hang on for the ride
it falls to 1.1 again... I sold half of my GLOB at this price, just to make safe...
yes 1.14 but as is 1.10 and theres a seller at 1.12
have we break 1.1 resistance?? and btw is the chart up there real time??
yeah, 1.1 is heavy resistance, but if this break, then it will fly...
We haven't pass the 1.1 resistance, we should break this soon...
I put my sell order at 2.1, that should help to raise the price...
please post real time price when it opens...
It's only 15 min now. The bid moved ask to 1.06 and the bid to 1.02. We should see a huge jump at open. I will try to post real time updates!!!!
can somebody post REAL TIME price for GLOB later when the market is open? coz my account is regular not premium so I can't see real time price.
I'm planning to sell it if it reached my target, not going to repeat the same mistake as I did with BGMO... go GLOB
Yeah, I also put 20% of my portfolio in GLOB, hope this going to be good
Oh forgot to put the actual numbers in my last post (just too excited) The current bid is at 1.04 and the ask is at 1.18
If it stays like that there could be a crazy run on the shares.
Nobody is selling cheap on this one!
I just checked the current ask and bid and hope that it stays like that before the open.
Who here is staying long on this one???
I am thinking that once the great news are out on Wednesday that it could shoot up much more! Like Hot Stock Picks said this one should be up by 100% by the end of this month!
I totally agree Grand Dragon. GLOB should be exploding today at trade beginning because of the huge expectation for the Wednesday conference. I put roughly 20% of my portfolio in here. Go GLOB!!!!!
By the way, is it possible that this stock reach 2.1pps today? just curious...
Wow I think GLOB can explode today!!! I put quarter of my portfolio here... anybody has different opinion?
I might take a whack at GLOB in the AM didn't take much vol to get a pop fri,if you make 20% in a day nothing wrong with that.Or ill sell to get into the free shares.
If bought as soon as market opens and set high limit orders, serious gains are possible with GLOB
I have done some DD on GLOB there is a new product coming out on Sep 23 looks to be some kind of big news .IMO there could be something here .
you got me wrong! I came cross this board because these one-day poster did also post about GLOB at other boards (spamming). I do NOT recommend GLOB in any form! I will take this pos on my watchlist and maybe tomorrow we can observe some big dumping.
GLOB has some awesome PR that came out earlier this week. I advise everyone to check it out. I am long 5k shares and I am expecting atleast a 100% return within the month.
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Global Med Technologies(R), Inc. is an international medical software company which develops regulated and non-regulated software products and services for the healthcare industry. As a leading provider of blood and laboratory software applications and services, Global Med's products are deployed in 20 countries and serve over 1,500 transfusion centers, blood banks and laboratories.
Global Med's U.S. division, Wyndgate Technologies(R), provides Vein-to-Vein(R) tracking through its Donor Doc(TM), SafeTrace(R), SafeTrace Tx(R) and ElDorado Donor(TM) software products. Each year, Wyndgate's products and services manage more than eight million blood components, representing over 27% of the U.S. blood supply.
Global Med's European subsidiary, Inlog, SA, is a leading provider of donor center and transfusion management systems as well as cellular therapy software, laboratory information systems and quality assurance medical software systems internationally. Inlog's products include EdgeBlood****, EdgeTrack****, EdgeCell, EdgeLab and SAPA.
Global Med's U.S. division, eDonor(R), provides a web-based donor relationship management system that integrates recruitment, scheduling, retention and fulfillment for national as well as local community blood centers and hospitals. eDonor's products and services are designed to complement Global Med's strong line of international blood management and laboratory information software and service solutions.
Global Med's U.S. subsidiary, PeopleMed(R), Inc., provides cost-effective customized software validation, consulting and compliance solutions to hospitals and donor centers.
For more information about Global Med's products and services, please call 800-996-3428 or visit http://www.globalmedtech.com, http://www.peoplemed.com, http://www.inlog.com and http://www.wyndgate.com.
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