Friday, February 22, 2008

HemCon Medical Technologies Buys Irish Healthcare Firm

Portland, Oregon-based HemCon Medical Technologies said Friday that it intends to acquire Dublin, Ireland-based Alltracel Pharmaceuticals Plc. financial terms of the deal were not disclosed. HemCon said it is looking to acquire Alltracel Pharmaceuticals in a cash-for-stock agreement through a new firm, Castlerise Investments Limited, which will be a wholly owned subsidiary of HemCon. HemCon said the deal will create a firm with projected revenues of over $100M. HemCon is a developer of bandages and dressings used to stem bleeding from trauma; the firm's products are used by the military and emergency medical professionals. Bank of America N.A. is managing the financing for the transaction.