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Baxter completes acquisition of PerClot Polysaccharide Hemostatic System from CryoLife for $60.8 million

Deerfield, Illinois
Saturday, July 31, 2021, 15:00 Hrs  [IST]

Baxter International Inc., a leading global medical products company, announced its Baxter Healthcare Corporation subsidiary has completed the acquisition of certain assets related to PerClot Polysaccharide Hemostatic System from CryoLife, Inc for up to $60.8 million, including $25 million paid upfront. The remainder will be paid out upon achievement of certain select milestones.

The transaction reinforces Baxter’s strategy of acquiring products and technologies that both complement and augment the company’s leading portfolio across the hospital, including in the operating room. PerClot has a global commercial presence with sales in more than 35 countries worldwide. It is not currently cleared for sale in the United States.

“The addition of PerClot further enhances our ability to optimize patient care by addressing a broad range of intraoperative bleeding with both active and passive hemostatic solutions, helping surgeons to use the right product for the right bleed,” said Wil Boren, president of Baxter’s Advanced Surgery business. “PerClot launches Baxter into the attractive hemostatic powder segment, while expanding our surgical offerings and complementing our recent acquisition of Seprafilm Adhesion Barrier.”

Addressing intraoperative bleeding is important in preventing blood transfusions and major complications for patients, as well as reducing the total cost of care. A blood management strategy that includes effective hemostasis is especially critical in today’s environment, given current worldwide shortages of blood donations and products due to the ongoing Covid-19 pandemic. A recent retrospective analysis found that implementing a framework that incorporates patient factors and a bleeding severity tool, such as Baxter’s Validated Intraoperative Bleeding Scale (VIBe SCALE), can support optimal hemostatic product selection.

A polysaccharide hemostatic powder can be used as an adjunctive hemostat to facilitate control of bleeding from capillary, venous or arteriolar vessels to address low-grade intraoperative bleeding. PerClot is composed of plant starch that is modified to create an adhesive hemostatic powder. It is used as an adjunctive hemostatic device to control bleeding during multiple open and laparoscopic surgical procedures, including gynecologic, general, cardiovascular and urology. PerClot rapidly absorbs water from blood to produce a gelled matrix that adheres to and forms a mechanical barrier with the bleeding tissue.

CryoLife recently completed a multicenter, randomized controlled clinical trial of more than 300 patients intended to support an application for US Food and Drug Administration (FDA) clearance. The trial evaluated the safety and efficacy of PerClot inachieving intraoperative hemostasis compared to the control (a similar marketed hemostatic powder).

 

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