Deal Watch: HemCon acquires a global reach

| Print |  Email
Tuesday, April 01, 2008

By Robin Doussard

From tiny shrimp shells mighty companies grow. HemCon Medical Technologies, maker of the blood-stopping bandage used on battlefields that was developed with the Oregon Medical Laser Center and Providence St. Vincent’s Hospital, has made its first acquisition.

Portland-based HemCon announced in late February that it would pay almost $41 million in a cash-for-stock agreement for Alltracel Pharmaceuticals, a publicly traded Irish company that focuses on research and commercialization of health-care products. This move will

Hemcon.jpg

boost HemCon’s annual revenues in 2008 to about $100 million, and push the number of local jobs from 115 to 130 or 140, according to HemCon president and CEO John W. Morgan. (Alltracel’s headcount is 55.)

Morgan says Alltracel was a good fit because it will give HemCon access to retail channels in Europe for the recently released over-the-counter KytoStat bandage that is made from the same shrimp-based technology as the battlefield bandage, along with manufacturing capabilities in India and China, and access to nanotechnology manufacturing. Alltracel’s oral care products in turn get access to the U.S.

HemCon was founded in 2001 and has experienced tremendous growth. “But for us to really break out as a company and get to a size we wanted to be at, acquisitions needed to be part of a multi-pronged strategy,” Morgan says. “This gives us a much bigger revenue and earnings base on which we can now invest in current products and develop new products.”

The company’s international business also has boomed and now has 23 distribution partners in 45 countries.

Morgan says the next strategic push will be the KytoStat bandage’s expansion into the consumer market. Morgan says they are working on getting the bandage, available now on drugstore.com and at some Albertson’s supermarkets, into other retail outlets. The other project is a product that will address infected wounds.

As for more acquisitions? “Potentially,” says Morgan. “We are looking at a number of companies whose technology might fit nicely into our portfolio.” 

List researched by Mark Druskoff

MERGERS AND ACQUISITIONS
ANNOUNCED EXP. CLOSE BUYER / PARENT (HQ) SELLER (HQ) / PARENT PRICE (TERMS)
Feb. 12 Q2 ‘08 Sinar Mas Group (Indonesia) Fort St. James Sawmill / Pope & Talbot (Portland) $6m
Feb. 12 Q2 ‘08 Fox Lumber Sales (MT) Midway Sawmill / Pope & Talbot (Portland) $750k
Feb. 19 Q1 ‘08 Shimano American (CA) Pearl iZumi division / Nautilus (WA) $69.5m (cash+debt)
Feb. 22 Q2 ‘08 W. Graeme Roustan (Canada); Kohlberg & Co. Bauer Hockey subsidiary / Nike (Beaverton) $200m (cash)
Feb. 22 Q2 ‘08 Castlerise Investments / HemCon Medical Tech. (Portland) Alltracel Pharmaceuticals (Ireland) $40.8m
Feb. 22 Q1 ‘08 Access Systems Division (TX) / Overhead Door CladPanel division (Sweet Home) / Ankmar Door ND
REAL ESTATE TRANSACTIONS
ANNOUNCED BUYER / PARENT (HQ) REAL ESTATE (LOCATION) / SELLER (HQ) PRICE
Jan. 31 Daniel and Hooja Kim (Portland) Pennington Building (Portland) / 1314 NW Glisan Street LLC $3.2m
Feb. 6 undisclosed REIT (CA) Pointe West Apts. (Milwaukie) / Pointe West Apts. LLC $7.6m
Feb. 12 Real Estate Recovery Associates Forest and Garden Apartments (Portland) / family trust (Portland) $4.75m
Feb. 12 Harsch Investment Properties (Portland) Oceanside Business Center (CA) $9.7m
Feb. 20 Business Center Cedars West Apts. (Beaverton) / Los Arcos Associates; Dale H. Denson; Ross E. Crosby $4.3m
Feb. 20 Kendall Floral Supply 7.56-acre parcel (Canby) / Estate of Ray L Burden $1.65m
Feb. 20 Johanson Transportation Service (CA) office bldg. (Tigard) / Westec America $1.4m
Feb. 20 Urban Renaissance Group (WA); Great Point Investors (MA) Morgan Building (Portland) / LA County Employees Retirement System (CA) $27.5m
Feb. 29 Donahue Schriber (CA) Keizer Station (Keizer) / Chuck Sides (Salem) ND
Feb. 29 Imagine Hotel Group; Longview Partners Shilo Inn Hotel (WA) / Shilo Inn Vancouver (WA) $4.8m
CAPITAL RAISING
ANNOUNCED COMPANY (HQ) / LEADERSHIP INVESTOR (HQ) PRICE (TERMS)
Feb. 3 Tyfone (Portland) / Tom Spitzer, CEO Ojas Venture Partners (India) ND
Feb. 5 Pacific Crest Securities (Portland) / Scott E. Sandbo, chairman & CEO CIVC Partners (IL); Caltius Partners (CA) $30m (equity)
Feb. 5 GreenWood Resouces (Portland) /Jeff Nuss, president & CEO Phaunos Timber Fund Limited (UK) $200m (equity)
Feb. 21 Portland Habilitation Center Northwest (Portland) / John Murphy, president U.S. Bancorp’s Community Development (MN) $6.5m (debt)
Feb. 21 OHSU Cancer Institute (Portland) / Dr. Brian Druker, director Lori and Jen-Hsun Huang family (CA) $5m (donation)
Feb. 22 Oregon State University (Corvallis) / Edward Ray, president Giustina family (Eugene) $4m (donation)
Feb. 27 Pearl Buck Center (Eugene) / Ron Crasilneck, president state bond buyers $3m (conduit rev. bonds)
Feb. 28 Swanson Group Manufacturing (Glendale) / Steve Swanson, president state bond buyers $10m (conduit rev. bonds)
Feb. 28 Axial Vector Engine Corporation (Portland) / Ahmed Khalifa, chairman Dubai Consortium (United Arab Emirates) $45m (debt)

Have an opinion? E-mail This e-mail address is being protected from spambots. You need JavaScript enabled to view it

 

Comments   

 
Guest
0 #1 GarageGuest 2013-10-04 19:28:58
Is there a difference between a garage and an overhead door? Or are they the same thing?
Quote | Report to administrator
 

More Articles

10 Twitter highlights from #OR100Best

The Latest
Friday, February 27, 2015
100bestBY OB STAFF

Oregon Business held its  22nd annual 100 Best Companies to Work For in Oregon celebration Thursday night in the Oregon Convention Center.


Read more...

2015 100 Best companies announced

The Latest
Friday, February 27, 2015
IMG 0022cneditBY OB STAFF

The 100 Best list recognizes large, medium and small companies for excellence in work environment, management and communications, decision-making and trust, career development and learning, and benefits and compensation.


Read more...

VIDEO: The 2015 100 Best Companies to Work For in Oregon

The Latest
Friday, February 27, 2015

videothumbVIDEO: 2015 100 Best Companies to work for in Oregon


Read more...

European Vacation

Guest Blog
Thursday, April 23, 2015
norristhumbBY JASON NORRIS | GUEST BLOGGER

There are winners and losers with a strengthening U.S. dollar.


Read more...

The Road to Reinvention

April 2015
Friday, March 27, 2015
BY AMY MILSHTEIN

Damian Smith bets on changing himself — and Portland — through consulting.


Read more...

Opening soon: 3 of the coolest new breweries in Oregon

The Latest
Thursday, March 19, 2015
brewthumbBY JACOB PALMER | DIGITAL NEWS EDITOR

There are 278 companies licensed to operate as brewery, according to the Oregon Liquor Control Commission. Here are three new beer-making hubs slated to open soon.


Read more...

Fighting Fire With Fire

May 2015
Friday, April 24, 2015
BY BEN DEJARNETTE | INVESTIGATEWEST

Timber companies and environmental groups take a stab at collaboration to boost logging and restoration in Oregon fires.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS