Physician Law Weekly
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Haemonetics Corp.
Decision reached in plasma-collection arbitration
June 22nd, 2005
Haemonetics Corp. (HAE) announced the decision by an arbitration panel to award the company $27.8 million in damages, plus attorney's fees and other costs, on its breach of contract claim against Baxter Healthcare Corp. Haemonetics filed the demand for binding arbitration in January, 2004. Haemonetics' claims against Baxter followed Baxter's purchase of the plasma collection operations of Alpha Therapeutics Corp., at that time Haemonetics' largest customer for its plasma collection systems. As a result of the purchase, Baxter assumed the supply contracts between Alpha and Haemonetics, and then immediately closed most of the Alpha collection centers...
Source: Physician Law Weekly (2005-06-22)
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