Haemonetics Corporation completed its acquisition of Orchestra BioMed’s subsidiary Vivasure on January 9 2026, and Orchestra BioMed will receive up to $21 million in cash proceeds. The company expects $11 million in 2026 cash, consisting of a $5 million upfront payment and a $6 million milestone payment; the remaining balance will be earned through future revenue‑based earnouts tied to milestone achievements.
The transaction allows Orchestra BioMed to monetize a mature product line and reallocate capital toward its flagship programs. In the third quarter of 2025 the company reported a net loss of $20.8 million, or $0.40 per share, compared with a $15.4 million loss ($0.41 per share) in Q3 2024. Revenue fell to $0.9 million from $1.0 million, while full‑year 2024 results showed a net loss of $61.0 million versus $49.1 million in 2023 and revenue of $2.6 million versus $2.8 million. With $95.8 million in cash and marketable securities as of September 30 2025, the $21 million infusion extends the company’s funding runway into the second half of 2027.
CEO David Hochman said the sale “strengthens our balance sheet and gives us the flexibility to accelerate our pipeline.” Senior Vice President Avi Fischer added that the proceeds will allow the company to invest more heavily in its AVIM therapy and Virtue Sirolimus AngioInfusion Balloon programs, both of which have received FDA Breakthrough Device Designation and are advancing through pivotal trials.
Analysts have responded positively to the transaction. Barclays raised its price target to $12.00, and TD Cowen initiated coverage with a $15.00 target. The upgrades reflect confidence in Orchestra BioMed’s strategic focus and the financial cushion provided by the sale.
The sale removes a legacy product from the portfolio, reduces ongoing R&D and commercialization costs for Vivasure, and frees capital for clinical development. The proceeds support continued investment in the AVIM therapy (BackBeat CNT) and Virtue SAB, positioning the company to capture large markets for hypertension and atherosclerotic disease. By strengthening its balance sheet, Orchestra BioMed is better positioned to navigate the high‑cost, high‑risk environment of medical device development.
Overall, the transaction is a material event that strengthens Orchestra BioMed’s financial position and supports its strategic focus on high‑impact cardiovascular innovations.
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