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Pall Crop to sell some blood transfusion operations, equipment to Haemonetics for $550 million
PORT WASHINGTON, N.Y. (AP) ' Filtration equipment manufacturer Pall Corp. says it has agreed to sell certain operations and equipment used in blood transfusions to health care company Haemonetics Corp. for $550 million.
The deal announced Sunday calls for Haemonetics to receive blood collection, filtration and processing systems and equipment, along with manufacturing facilities in California, Mexico and Italy from Pall.
Some of Pall's assets in Puerto Rico are also included.
About 1,300 Pall employees will be transferred to Haemonetics as part of the deal.
Pall expects to record an after-tax gain of $230 million to $240 million, or $1.95 a share to $2.04 a share on the sale.
The deal is expected to close at the start of Pall's 2013 fiscal year. The current fiscal year ends July 30.