This excerpt taken from the HAE 10-Q filed Feb 3, 2009.
18. SUBSEQUENT EVENT
On January 30, 2009, a jury returned a verdict in favor of the Company in a patent infringement case pending in the federal district court of Massachusetts since December 2005 (Haemonetics Corporation v. Baxter Healthcare Corporation et al. (CV No. 05-12572-NMG)(D.Ct. MA)). The jury determined that Fenwals Alyx system infringes a Haemonetics patent and awarded the Company damages for lost profits and royalties in the approximate amount of $15.7 million. The verdict is subject to appeal.
This excerpt taken from the HAE 10-Q filed Nov 8, 2007.
17. SUBSEQUENT EVENT
On October 30, 2007 the Company announced a definitive agreement whereby Haemonetics will acquire Haemoscope's TEG® Thrombelastograph® Hemostasis Analyzer business for $44 million cash. The acquisition is expected to close within the next several weeks. Haemoscope Corporation is a provider of whole blood hemostasis monitoring systems. The TEG system can predict a patient's risk of bleeding and thrombotic complications and enable personalized therapy. The results of the Haemoscope's operations will be included in our consolidated results for periods after the acquisition date.
This Management's Discussion and Analysis of Financial Condition and Results of Operations ("MD&A") should be read in conjunction with both our interim consolidated financial statements and notes thereto which appear elsewhere in this Quarterly Report on Form 10-Q and the MD&A contained in our fiscal year 2007 Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on May 25, 2007. The following discussion may contain forward-looking statements and should be read in conjunction with the "Cautionary Statement Regarding Forward-Looking Information" beginning on page 35.
This excerpt taken from the HAE 10-Q filed Aug 9, 2007.
17. SUBSEQUENT EVENT
On July 9, 2007, the Company acquired Infonalé, Inc.( Infonalé) for approximately $1.3 million in cash plus contingent consideration based upon future operating performance. Infonalé is a leading developer of IT software and consulting services for optimizing hospital blood use and management. The purchase price will be principally allocated to intangible assets including completed technology and goodwill. The results of the Infonalé operations will be included in our consolidated results for periods after the acquisition date.
This excerpt taken from the HAE 10-Q filed Feb 7, 2007.
18. SUBSEQUENT EVENT
On January 29, 2007 Haemonetics Corporation (the Company) received $6 million in full satisfaction of its claims against Baxter Healthcare Corporation, Baxter International Inc. and Baxter Healthcare SA (together Baxter) related to certain platelet pathogen reduction contracts. In connection with the settlement of these claims, the Technology Development Agreement and Requirements Contract between the Company and Baxter are terminated, and Haemonetics no longer retains any rights to distribute the INTERSOL product (note INTERSOL is a registered trademark of Baxter). Haemonetics will record the receipt of this settlement in the fourth quarter ending March 31, 2007. The settlement will have a favorable impact of $.12 on our fourth quarter earnings per share.
On January 30, 2007, Haemonetics Corporation (the Company) acquired the assets of Information Data Management, Inc. (IDM) for approximately $9 million in cash. IDM is a business that develops software for blood collection agencies. The purchase price will be principally allocated to intangible assets including customer contractual relationships, completed technology and goodwill. The results of the IDM operations will be included in our consolidated results for periods after the acquisition date.
This excerpt taken from the HAE 10-Q filed Nov 9, 2005.
16. SUBSEQUENT EVENT
On October 6, 2005 the independent arbitration panel entered their final award in our claim for binding arbitration against Baxter. On October 13, 2005 we received $30.8 million from Baxter in full satisfaction of this award including damages, reimbursement of attorneys fees and costs, and statutory interest since the time of the arbitration panels initial award on May 20, 2005.
This award will be recorded in our third quarter financial statements. Certain of the award proceeds relate to the repayment of a lease receivable, with a carrying amount of $0.7 million, and the retirement of an intangible asset, with a carrying amount of $2.0 million, related to a supply contract that has been fully satisfied with this award. After satisfaction of these assets the award will increase pre-tax income by $28.1 million, including a reduction in selling, general and administration expenses of $0.4 million for attorneys fees incurred during the current year, $1.3 million of interest income, and $26.3 million of other income.