{"id":237907,"date":"2026-01-10T13:58:17","date_gmt":"2026-01-10T13:58:17","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/237907\/"},"modified":"2026-01-10T13:58:17","modified_gmt":"2026-01-10T13:58:17","slug":"galway-medtech-vivasure-acquired-in-deal-worth-up-to-e185m-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/237907\/","title":{"rendered":"Galway medtech Vivasure acquired in deal worth up to \u20ac185m \u2013 The Irish Times"},"content":{"rendered":"

A Galway <\/a>medical technology company behind a device that helps surgeons to close large holes in major arteries has been acquired by New York Stock Exchange-listed medical device group Haemonetics in a deal worth up to \u20ac185 million. <\/p>\n

Founded in 2009 and backed by Enterprise Ireland<\/a> and the Western Development Commission, among others, Vivasure Medical has developed sutureless patches that can be absorbed by the body, minimising invasiveness in the closure of vessels after heart and vascular surgeries.<\/p>\n

The sale price for the Irish company comprises a \u20ac100 million cash payment upfront, and a further \u20ac85 million if certain manufacturing and sales milestones are reached, Boston-headquartered Haemonetics said in a statement on Thursday evening. <\/p>\n

Vivasure\u2019s PerQseal and PerQseal Elite technologies are not yet available in the US, but the company submitted a premarket approval application to the Federal Drug Administration<\/a> last year. <\/p>\n

The technology has, however, received CE (Conformit\u00e9 Europ\u00e9enne) mark approval in the EU, meaning it meets the bloc\u2019s health and safety standards. <\/p>\n

\u201cWe\u2019re extremely proud of the progress made in advancing closure technology, and grateful to the clinicians who supported Vivasure\u2019s mission,\u201d said Andrew Glass, chief executive officer of Vivasure.<\/p>\n

Ger Brett, the company\u2019s co-founder and chief operations officer, thanked the company\u2019s board, investors and the Government bodies that backed it. \u201cWe\u2019re proud to make PerQseal in Ireland and distribute it around the world.\u201d<\/p>\n

Over its lifetime, Vivasure has raised money from sources including Fountain Healthcare Partners, whose partner Justin Lynch sits on the Vivasure board.<\/p>\n

In 2016, it raised \u20ac16.5 million, led by Dutch-based Life Sciences Partners and Germany\u2019s Evonik Venture Capital. Three years later, the company secured \u20ac10 million in venture debt financing from the European Investment Bank. <\/p>\n

More recently, Haemonetics invested \u20ac30 million in Vivasure in 2022 in a deal that included an option to acquire the Irish business. <\/p>\n

\u201cWith strong clinical performance and safety data, PerQseal Elite positions us for increased leadership in advanced closure, as we leverage our commercial scale and operational synergies to deliver increased value to physicians and hospitals,\u201d said Ken Crowley, vice-president and general manager of interventional technologies at Haemonetics. <\/p>\n

Vivasure employed some 49 people in 2024, according to abridged accounts filed by the company last November. <\/p>\n

Accumulated losses of more than \u20ac125 million had built up at the company by the end of that year. In a note to the accounts, the directors said the company meets its day-to-day requirements by way of funding from its shareholders. <\/p>\n

Vivasure also negotiated \u20ac20 million loan from Haemonetics in 2025. The accounts note that the loan would be used \u201cto repay the current loan held by the company in the amount of circa \u20ac8 million and the remaining will be used for the operational existence of the company for the foreseeable future and the continued development of its product”.<\/p>\n","protected":false},"excerpt":{"rendered":"A Galway medical technology company behind a device that helps surgeons to close large holes in major arteries…\n","protected":false},"author":2,"featured_media":237908,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[72,32210,4500,61,60,1388,120722],"class_list":["post-237907","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-enterprise-ireland","tag-galway","tag-ie","tag-ireland","tag-new-york-stock-exchange","tag-western-development-commission-wdc"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/237907","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=237907"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/237907\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/237908"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=237907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=237907"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=237907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}