Opsens stock (TSX:OPS) spikes on takeover

Shares of Opsens (Opsens Stock Quote, Chart, News, Analysts, Financials TSX:OPS) after the company announced it had agreed to a  takeover.

Opsens today announced it had entered into a definitive agreement to be acquired by Haemonetics Corp and 9500-7704 Quebec Inc., its wholly owned subsidiary.

The transaction, which has been unanimously approved by the OPS board, represents a 50 per cent premium over the October 6 closing price and values the company at about $345-million.

“This Transaction will create value for our Shareholders and is a testament to the quality of the team’s work over the years, the added value of our products, and the potential for the years to come. The integration within Haemonetics should enhance the benefits for Opsens’s products with access to a world-class sales network, while capitalizing on the specialized production and R&D expertise of Opsens. From design to production, Opsens’s expertise and knowledge are recognized by clinicians, hospitals and device industry suppliers and Opsens’s innovative products will be a valuable addition to Haemonetics’s existing product line,” said Opsesn CEO  Louis Laflamme.

Québec City-based OpSens develops and commercializes optical devices including the OptoWire fibre optic, pressure guidewire used in the diagnosis and treatment of patients with coronary artery disease. The company is also developing devices for structural cardiology applications such as trans-aortal valve replacement (TAVR).

At press time, shares of OPS were up 47.2 per cent to $4.82.