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Haemonetics posts mixed-bag Q3, tightens guidance range

Haemonetics (NYSE:HAE) shares dipped slightly before hours on third-quarter results that were mixed compared to the consensus forecast.

The Boston-based company posted profits of $23.2 million, or 45¢ per share, on sales of $259.8 million for the three months ended Jan. 1, 2022, for a 27.1% bottom-line slide on sales growth of 8.1%.

Adjusted to exclude one-time items, earnings per share were 84¢, 11¢ ahead of Wall Street, where analysts were looking for sales of $266.7 million.

“Our third-quarter results reflect our agility and resilience in meeting the challenges of the pandemic on U.S. blood and plasma collections and some hospital products,” Haemonetics CEO Chris Simon said in a news release. “Plasma collections improved and we continued to convert customers to our latest NexSys and Persona technologies, while our hospital business delivered double-digit growth and a new record quarter for sales in hemostasis management and vascular closur…

Haemonetics wins FDA nod for same-day discharge following AFib ablation using Vascade MVP

Haemonetics today said that it has received FDA approval for same-day discharge after atrial fibrillation ablation using its Vascade MVP venous vascular closure system.

Vascade MVP is a vascular closure system that is designed for procedures that require multiple access site venous closures. It uses 6 to 12 Fr inner diameter sheaths that are commonly used in cardiac electrophysiology procedures to enable earlier ambulation, earlier discharge eligibility and a higher patient satisfaction, according to the Boston-based company.

“COVID has accelerated the need to enhance safety and efficacy to optimize the patient experience in meaningful ways. Vascade MVP earning the first and only indication for same-day discharge for AF ablation patients speaks to our industry leadership and continued commitment to improving the standards of care,” CEO and president Chris Simon said in a news release.

The same-day discharge labeling was granted following the …

Haemonetics ticks up on Street-beating Q1 results

Haemonetics (NYSE:HAE) posted first-quarter results this week that beat the overall consensus on Wall Street.

The Boston-based hematology device company reported losses of -$4.5 million, or -9¢ per share, on sales of $228.5 million for the three months ended July 3, for a sales growth of 16.85% compared with Q1 2021.

Adjusted to exclude one-time items, earnings per share were 50¢, 4¢ ahead of The Street, where analysts were looking for sales of $219.4 million.

“Our first-quarter performance is a positive start to the year, supported by recovery across all of our businesses, especially Hospital, and the initial Plasma Persona rollouts. We remain confident in the strong end-market demand for our products and continue to anticipate full recovery from the pandemic by the end of this fiscal year. Our revised Operational Excellence program will drive quality, service and greater productivity, while helping us to offset impacts of the anticipated customer loss,…

Report: Medtech dollars, deals hit new highs in first half of 2021

Fueled at least in part by exceptionally strong IPO and M&A markets, hedge funds, venture capitalists, private equity firms and corporate investors are committing more time and money into privately held medical devices companies, according to a new “Healthcare Investments and Exits” report issued by Silicon Valley Bank.

The report examining the first half of 2021 outlines deals and dollars committed to all sectors within healthcare — while also tracking exiting opportunities for investors. An examination of the medical device portion of the report reveals many promising trends.

First, capital commitments are up. Looking at dollars raised, U.S. and European medical device startups raised $4.6 billion in the first half of this year, putting 2021 on pace to eclipse totals dollars raised in 2020 ($5.2 billion raised) and 2019 ($4.8 billion raised.) It’s worth noting that European startups accounted for 34% of the dollars raised by medical device companies, up f…

Haemonetics plummets on mixed-bag Q4 results

Haemonetics (NYSE:HAE) posted fourth-quarter results today that beat the revenue consensus on Wall Street and missed on earnings estimates.

The company reported losses of -$11 million, or -22¢ per share, on sales of $225 million for the three months ended April 3, for a sales loss of -5.65% compared with Q4 2021.

Adjusted to exclude one-time items, earnings per share were 46¢, 21¢ behind The Street, where analysts were looking for sales of $222.98 million.

“The pandemic affected fiscal 2021, particularly our plasma business, but cost mitigation efforts coupled with the Operational Excellence Program helped dampen the impact,” CEO Chris Simon said in a news release. “We took meaningful steps to position the company for growth, including the Persona launch, the Cardiva Medical acquisition, various divestitures and the debt refinancing.”

“We remain confident in the strong end-market demand for our products and expect ful…

Haemonetics up 18% on Street-beating Q3 results

Haemonetics (NYSE:HAE) posted third-quarter results today that beat the consensus forecast on Wall Street, sending its shares up.

The Boston-based company reported profits of $31.9 million, or 62¢ per share, on sales of $240.4 million for the three months ended Dec. 26, 2020, for a bottom-line gain of 6.6% sales loss of -7.2% compared with Q3 2020.

Adjusted to exclude one-time items, earnings per share were 81¢, 16¢ ahead of The Street, where analysts were looking for sales of $224.3 million.

“In the third quarter, revenue improved sequentially and productivity from our Operational Excellence Program and cost management helped improve profitability,” CEO Chris Simon said in a news release. “We are progressing with NexSys and TEG adoption and we are investing in our innovation agenda for future growth. The Cardiva Medical acquisition supports our strategy, diversifies our portfolio and is expected to create significant shareholder value.”

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MedTech 100 roundup: Another peak for the industry

Medtech has been on the rise in 2021 and the past week saw that trend continue, as the industry hit yet another all-time best mark.

MassDevice‘s MedTech 100 index reached 107.4 points on Jan. 20, topping the all-time best of 106.81 points set on Jan. 8. That mark represents a 16% jump from the pre-pandemic high of 92.32 set on Feb. 19, 2020, and a 72.9% overall leap from the lowest point of 62.13 set on March 23, 2020.

Here are some of the best-performing medtech stocks from 2020.

The high point could not be sustained, but the industry stayed strong, finishing at 106.4 to end the week on Jan. 22. Medtech’s finish to last week was enough to top the previous seven days, coming in 0.6% ahead of the 105.8-point mark set on Jan. 15.

While medtech saw slight growth from the previous week, one of the overall markets saw a larger jump, with the S&P 500 Index rising 1.9%. The Dow Jones Industrial Average fared identically to medtech, rising 0.6%.

Haemonetics to acquire Cardiva

Haemonetics (NYSE:HAE) announced today that it entered into a definitive agreement to acquire Cardiva Medical for $475 million.

Boston-based Haemonetics’ agreement includes an upfront cash payment of $475 million at closing, along with up to an additional $35 million in contingent consideration based on sales growth, according to a news release.

The acquisition is subject to customary closing conditions with expectations that it will be completed in the first quarter of the calendar year 2021.

Sunnyvale, Calif.-based Cardiva Medical develops a portfolio that includes two catheter-based vascular access site closure devices — the Vascade vascular closure system for “small-bore” femoral arterial and venous closure and the Vascade MVP system for “mid-bore” multi-access femoral venous closure.

Vascade is touted as the only marketed closure device that significantly reduces access site complications compared to manual compr…

MedTech 100 roundup: Industry remains on the rise

The medtech industry continues to climb back up in the markets, following a landmark week with another move up toward its pre-COVID-19-pandemic highs.

MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — sat at 89.29 points at the end of last week (July 24). That total represents just a -3.3% dip from the Feb. 19 high point of 92.32, marking the smallest margin of decline over the past five months.

On July 22, the index reached 90.11 points, marking its highest point since that pre-pandemic high and the first and only time it has eclipsed 90 points since that day in February.

Medtech stocks saw a 0.44% increase from the 88.9-point total at the same time a week prior (July 17), highlighting a slight improvement after last week saw the industry inch back toward that pre-pandemic high.

Meanwhile, the S&P 500 Index saw a -0.3% decline from July 17 to July 24, and the Dow Jones Index fared slightl…

Haemonetics to sell Inlog Holdings France subsidiary

Haemonetics (NYSE:HAE) announced today that it entered into an agreement to sell its wholly-owned subsidiary Inlog Holdings France SAS to Abénex.

France-based Abénex, a fully independent private equity firm, will take on the Haemonetics subsidiary which develops and sells blood bank and hospital software solutions, predominantly in France and in other countries outside the U.S.

Boston-based Haemonetics will transfer all of its ownership interest in Inlog Holdings France SAS and its subsidiary In Log SAS, which includes several products on the EdgeSuite software platform. Employees of the company will remain employees after the closing of the transaction, which is expected to take place sometime in the third quarter of the calendar year 2020.

“This divestiture and the recent sale of our U.S. blood donor software help shift our portfolio toward our growth segments,” Haemonetics president & CEO Chris Simon said in a news release. “Soft…

Haemonetics’ blood-collection devices could leave particles in donors, report says

A consortium of news outlets is questioning the safety of Haemonetics (NYSE:HAE) blood-collection devices, claiming that particles have been detected in donors whose plasma was extracted by the machines.

According to a report in the Miami Herald, whistleblower documents indicate that more than 150 Haemonetics customer reports have been made regarding the presence of particles by plasma collection centers and heathcare facilities in the U.S. between 2005 and 2019.

Braintree, Mass.-based Haemonetics responded, saying that there is no evidence of donor, patient or user harm associated with the use of its products in the reports cited in the article by seven news organizations.

Apheresis devices are used to separate plasma from blood and then return blood to the donor. Governments around the world are encouraging people who have survived COVID-19 to donate plasma to be used in treating other patients.

In 2018, the French government enacted a precauti…

Haemonetics to sell filter factory to GVS

Haemonetics (NYSE:HAE) said today that it has agreed to sell its Fajardo, Puerto Rico, manufacturing operations to filter manufacturer GVS.

Boston-based Haemonetics will retain all intellectual property rights to its proprietary blood filters currently manufactured at its Fajardo facility, while GVS (Bologna, Italy) will obtain certain operating assets, including manufacturing equipment and inventory and a sublease to the facility.

Haemonetics also plans to grant GVS exclusive rights to manufacture and supply the blood filters currently produced at the Fajardo facility. Haemonetics employees who work in the Fajardo facility will become GVS employees.

The deal is expected to close in the second quarter of 2020. It’s the second recent transaction for the blood management company, which announced May 29 that it plans to sell certain blood donor management software assets to the GPI Group.

“We continue to pursue operational excellence to …