Haemonetics (HAE) said Tuesday it has completed the sale of its whole blood assets to GVS for $67.8 million.

The transaction includes an upfront payment of $45.3 million, with potential additional earn-outs of up to $22.5 million over four years.

The sale covers Haemonetics' entire portfolio of proprietary whole blood collection, processing, and filtration solutions, along with its Covina, California, manufacturing facility and equipment at the Tijuana, Mexico, site, the company said, adding that it will keep its Blood Center business, providing apheresis solutions for blood collection, including devices and kits.

Haemonetics said it plans to use the proceeds for general corporate purposes and further investments in growth initiatives.

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