Medical products firm Baxter International has signed an agreement to purchase RECOTHROM and PREVELEAK surgical products from Mallinckrodt for a total consideration of around $185m, with $153m upfront.
The acquisition is expected to bolster Baxter‘s surgical solutions portfolio for addressing intraoperative bleeding and expanding options for surgeons.
RECOTHROM is a thrombin-based topical product designed to assist haemostasis in case of available access to oozing and minor bleeding, and when control of bleeding by conventional surgical methods is ineffective or impractical in adults and paediatrics aged one month or above.
PREVELEAK is a surgical sealant indicated for the mechanical closing of suture holes to obtain adjunctive haemostasis in surgical vascular reconstructions.
The total sales of these products were reported to be around $56m in the 12 months before 29 September 2017.
Baxter Advanced Surgery business president Wil Boren said: “As a leading provider of advanced haemostats and sealants, Baxter is focused on continually identifying solutions to help meet surgeons’ varying needs.
“We are excited about the addition of RECOTHROM to help surgeons address less severe intraoperative bleeding and PREVELEAK to complement Baxter’s existing portfolio of sealants for cardiovascular and other surgical specialties.”
Mallinckrodt will, however, retain another fibrin sealant product RAPLIXA, and intends to discontinue its marketing after closing the deal with Baxter.
The deal is subject to customary closing conditions and is expected to be concluded in the first half of this year.