Haemonetics Corporation Overview

Business Focus

Haemonetics is a global medical technology company dedicated to enhancing healthcare quality, effectiveness, and efficiency. The company develops and sells medical devices, software solutions, and technologies primarily for blood and plasma collection, processing, and management.

Key Business Segments

• Plasma: Automated plasma collection systems, donor management software, and supporting software solutions for plasma centers. Focus on source plasma collection for pharmaceuticals, which is mainly done through dedicated apheresis devices in plasma collection centers.
• Blood Center: Blood collection and processing devices/disposables for plasma, red blood cells, and platelets for transfusion.
• Hospital:
  • Interventional Technologies: Includes vascular closure devices, sensor-guided technologies, and esophageal protection products.
  • Blood Management Technologies: Includes hemostasis management, cell salvage, and transfusion management products.

Products and Technologies

• Plasma:
  • Automated collection devices like NexSys PCS for source plasma collection.
  • Donor management software such as NexLynk DMS and Donor360.
  • Innovations like Persona technology to enhance plasma yield.
• Blood Center:
  • Automated blood component collection systems supporting plasma, red cells, and platelets.
  • Disposables like MCS apheresis devices and ACP blood processor.
  • Divested Whole Blood product line in early 2025.
• Hospital:
  • Vascular closure devices (e.g., VASCADE, VASCADE MVP, VASCADE MVP XL).
  • Sensor-guided products (OptoWire, SavvyWire).
  • Esophageal cooling (ensoETM).
  • Hemostasis diagnostics (TEG and HAS systems).
  • Cell salvage systems (Cell Saver Elite +).
  • Transfusion software (SafeTrace Tx, BloodTrack).

Market Position and Growth

• Primary Focus Areas: Plasma and hospital segments have the greatest growth potential.
• Market Share:
  • Estimated 39.3% of total revenue in fiscal 2025 from Plasma.
  • 41.5% from Hospital.
  • 19.2% from Blood Center.
• Customer Base:
  • Customers include biopharmaceutical companies, blood collection agencies, blood centers, hospitals, and healthcare providers.
  • The ten largest customers accounted for 42% of revenue in fiscal 2025.
  • No customer accounted for more than 10%.

Financials (Fiscal Year 2025)

• Total Revenue: $1.36 billion, a 4.0% increase from 2024.
• Gross Profit: $749 million (55.0% margin).
• Operating Income: $222 million (16.3% margin).
• Net Income: $168 million, up 42.6% from 2024.
• Earnings Per Share:
  • Basic: $3.33.
  • Diluted: $3.31.
• Employees: Approximately 3,023 full-time employees as of March 29, 2025.

Key Recent Events

• Divestiture: Sold Whole Blood product line in early 2025 for up to $65.8 million.
• Debt:
  • Issued $700 million in 2029 convertible senior notes in May 2024.
  • Entered into new credit facilities, with $245.3 million outstanding at fiscal year-end.
• Share Repurchase:
  • Fully funded $300 million repurchase authorization.
  • Announced new $500 million repurchase program for the next three years starting April 2025.
• Acquisitions:
  • Acquired Attune Medical in April 2024 for $187.7 million; products include the ensoETM esophageal cooling system.
  • Acquired OpSens Inc. in December 2023 for approximately $245.9 million; products include SavvyWire and OptoWire.

Conclusion

Haemonetics develops specialized medical technology products aimed at blood and plasma collection, blood management, and interventional procedures. Its extensive product portfolio supports healthcare providers globally, with a strategic focus on high-growth areas like plasma collection and hospital technologies. The company has approximately 3,023 employees, generated $1.36 billion in revenue for fiscal 2025, and reported net income of $168 million.