10:25:35 EDT Wed 01 May 2024
Enter Symbol
or Name
USA
CA



Opsens Inc
Symbol OPS
Shares Issued 115,453,608
Close 2023-11-28 C$ 2.88
Market Cap C$ 332,506,391
Recent Sedar Documents

Opsens receives regulatory nod for Haemonetics deal

2023-11-28 10:24 ET - News Release

Mr. Louis Laflamme reports

OPSENS OBTAINS REGULATORY CLEARANCE OF ARRANGEMENT IN THE UNITED STATES AND CANADA; REGULATORY APPROVALS CONDITION SATISFIED

In connection with the previously announced acquisition by Haemonetics Corp. of all of the issued and outstanding common shares in the capital of Opsens Inc. for $2.90 in cash per share, pursuant to a statutory plan of arrangement under the Business Corporations Act (Quebec), the applicable waiting period has expired under the United States Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (HSR Act), and the applicable limitation period during which a notice of national security review could be issued under the Investment Canada Act (Canada) (ICA) RSC, 1985, c. 28 (first supp.), as amended, has expired without any such notice having been sent.

The expiry of the applicable waiting period and limitation period under each of the HSR Act and the ICA satisfy the mutual closing condition with respect to regulatory approvals set forth in the arrangement agreement dated Oct. 10, 2023, between the corporation, Haemonetics and 9500-7704 Quebec Inc. The arrangement remains subject to certain closing conditions, including approval of the arrangement by at least 66-2/3 per cent of the votes cast by holders of shares present virtually or represented by proxy at the special meeting of shareholders to be held on Dec. 1, 2023, and the issuance of a final order by the Quebec Superior Court. It is currently expected that the arrangement will be completed by mid-December, 2023.

Louis Laflamme, president and chief executive officer of the corporation, commented, "We are pleased to be one step closer to completing the arrangement, and providing immediate and fair value to our shareholders, and we encourage all Opsens shareholders to vote for the plan of arrangement in advance of the proxy voting cut-off on Nov. 29, 2023."

Vote today

Act now. The deadline for shareholders to vote for the arrangement is 10 a.m. (Montreal time) on Wednesday, Nov. 29, 2023.

Opsens's board of directors, after receiving legal and financial advice, and a unanimous recommendation from the special committee of the board composed entirely of independent directors, unanimously determined that the arrangement is in the best interests of Opsens, and is fair and reasonable to the shareholders, and recommends unanimously that shareholders vote for the special resolution approving the arrangement at the meeting.

The terms of the arrangement and the arrangement agreement between the corporation and the purchaser parties dated Oct. 10, 2023, are further described in the management information circular and related materials for the meeting, all of which are available under the corporation's profile on SEDAR+ and on Opsens's website.

Shareholder questions and assistance

If you have any questions or need assistance voting, contact Kingsdale Advisors using your preferred method of communication:

  • Call 1-888-327-0819 (toll-free in North America);
  • Call 647-251-9709 (text- and call-enabled outside North America);
  • E-mail contactus@kingsdaleadvisors.com.

Opsens has retained Kingsdale Advisors as its strategic adviser and investor campaign adviser.

About Opsens Inc.

Opsens focuses mainly on cardiology. The corporation offers an advanced optical-based pressure guidewire that aims at improving the clinical outcome of patients with coronary artery disease. Its flagship product, the Optowire, is a second-generation fibre optic pressure guidewire designed to provide the lowest drift in the industry and excellent lesions access. The Optowire has been used in the diagnosis and treatment of more than 250,000 patients in more than 30 countries. It is approved for sale in the United States, the European Union, the United Kingdom, Japan and Canada.

Opsens has received FDA (Food and Drug Administration) clearance and Health Canada approval to commercialize the SavvyWire for transcatheter aortic valve replacement procedures (TAVI). This unique guidewire is a three-in-one solution for stable aortic valve delivery and positioning, continuous accurate hemodynamic measurement during the procedure, and reliable left ventricular pacing without the need for adjunct devices or venous access.

Opsens's SavvyWire is on trend with a minimalist approach to TAVR and advances the procedure, allowing patients to leave the hospital earlier, sometimes the same day. The TAVR procedure is growing rapidly globally, driven by the aging population and recent studies that demonstrate its benefits for a broader array of patients. The global TAVR market is expected to reach over 400,000 in 2025 and over 600,000 in 2030.

Opsens is also involved in industrial activities in developing, manufacturing and installing innovative fibre optic sensing solutions for critical applications.

We seek Safe Harbor.

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