09:09 AM EST, 03/05/2024 (MT Newswires) -- Haemonetics ( HAE ) said Tuesday it has agreed to acquire privately-held Attune Medical for an upfront cash payment of $160 million.

The acquisition, expected to close in Haemonetics' ( HAE ) fiscal 2025 Q1, also includes additional contingent payments based on sales growth and milestones over three years, Haemonetics ( HAE ) said.

The medical products manufacturer said the acquisition of Attune, which makes the ensoETM temperature regulation device for esophageal protection during cardiac ablation procedures, is expected to support its presence in the electrophysiology market.

Financing for the acquisition will involve a mix of cash reserves and a draw from Haemonetics' ( HAE ) revolving credit facility, the company said.

Haemonetics ( HAE ) said it expects the acquisition to be immediately accretive to revenue and earnings growth.

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