BRAINTREE, Mass., Aug. 30 /PRNewswire-FirstCall/ -- Haemonetics Corporation announced today the asset acquisition of the Bloodless Surgery Station(TM) product line from Harvest Technologies Corporation. Haemonetics will pay cash for the assets, inventory, and intellectual property associated with the products. The acquisition was effective August 19, 2004.
The Bloodless Surgery Station is an integrated product for blood conservation and surgical blood salvage. The Station consists of several products that can be unbundled and marketed as stand-alone products. These products include the SmartSuction(R), the SmartCell(TM), and an autotransfusion blood bag with integral transfusion filter. Haemonetics will leverage these technologies to expand its surgical blood salvage product line and to enter the broader surgical patient management market.
SmartSuction is a proprietary specialized surgical suction system that rapidly removes blood and fluid from the surgical field without excessive suction. SmartSuction can be used with Haemonetics' Cell Saver(R) or OrthoPAT(R) surgical blood salvage systems, or it can be used as a free- standing unit to improve surgical suction in any surgery. Haemonetics estimates this market at about $300 million annually.
Brian Concannon, president of Haemonetics' Patient Division, said, "Improving surgical suction with the SmartSuction device allows protection of sensitive tissue and simultaneous rapid fluid removal and visualization of the surgical field that may improve surgical outcomes, for example, in minimally invasive surgeries."
SmartCell is a simple surgical blood salvage technology that is particularly suited for emerging markets and represents a market potential of about $60 million annually.
"Through SmartCell, we can offer the benefits of autotransfusion in areas of the world where transfusion risks are high although healthcare budgets cannot support sophisticated autotransfusion programs," Concannon added. "We are enthusiastic about this opportunity to expand our business in these geographies."
The blood bag is an autotransfusion blood bag with an integral filter that is a simple, lower cost alternative to other bags which require a filter to be added. The bag can be used with Haemonetics' surgical blood salvage technology or sold independently for use with other blood salvage technologies. Haemonetics estimates this market at about $18 million annually.
Haemonetics will integrate manufacturing and marketing of these products into its operations over the remainder of the fiscal year. The Company will continue to service the small number of existing customers during the integration period and expects to begin a broader limited market release in the first quarter of FY06.
Haemonetics has posted additional details on the products and acquisition on its website at http://www.haemonetics.com/site/content/investor/mediakit.asp.
Haemonetics Corporation
Haemonetics is a global company engaged in the design, manufacture and worldwide marketing of automated blood processing systems. These systems address important medical markets: surgical blood salvage, blood component collection, plasma collection, and blood component safety. To learn more about Haemonetics' products and markets, visit its web site at http://www.haemonetics.com/.
This release contains forward looking statements that involve risks and uncertainties, including technological advances in the medical field and standards for transfusion medicine and our ability to successfully implement products that incorporate such advances and standards, product demand, market acceptance, regulatory uncertainties, the effect of economic and political conditions, the impact of competitive products and pricing, blood product reimbursement policies and practices, foreign currency exchange rates, changes in customers' ordering patterns, the effect of industry consolidation as seen in the plasma market, the effect of communicable diseases and the effect of uncertainties in markets outside the U.S. (including Europe and Asia) in which we operate and other risks detailed in the Company's filings with the Securities and Exchange Commission. The foregoing list should not be construed as exhaustive. The forward-looking statements are based on estimates and assumptions made by management of the Company and are believed to be reasonable, though are inherently uncertain and difficult to predict. Actual results and experience could differ materially from the forward-looking statements.
Contact: Investors and Media Julie Fallon Tel. (781) 356-9517 Alt. Tel. (617) 320-2401 fallon@haemonetics.com Customers Lise Halpern Tel. (781) 356-9373 lhalpern@haemonetics.com
Haemonetics Corporation
The Bloodless Surgery Station is an integrated product for blood conservation and surgical blood salvage. The Station consists of several products that can be unbundled and marketed as stand-alone products. These products include the SmartSuction(R), the SmartCell(TM), and an autotransfusion blood bag with integral transfusion filter. Haemonetics will leverage these technologies to expand its surgical blood salvage product line and to enter the broader surgical patient management market.
SmartSuction is a proprietary specialized surgical suction system that rapidly removes blood and fluid from the surgical field without excessive suction. SmartSuction can be used with Haemonetics' Cell Saver(R) or OrthoPAT(R) surgical blood salvage systems, or it can be used as a free- standing unit to improve surgical suction in any surgery. Haemonetics estimates this market at about $300 million annually.
Brian Concannon, president of Haemonetics' Patient Division, said, "Improving surgical suction with the SmartSuction device allows protection of sensitive tissue and simultaneous rapid fluid removal and visualization of the surgical field that may improve surgical outcomes, for example, in minimally invasive surgeries."
SmartCell is a simple surgical blood salvage technology that is particularly suited for emerging markets and represents a market potential of about $60 million annually.
"Through SmartCell, we can offer the benefits of autotransfusion in areas of the world where transfusion risks are high although healthcare budgets cannot support sophisticated autotransfusion programs," Concannon added. "We are enthusiastic about this opportunity to expand our business in these geographies."
The blood bag is an autotransfusion blood bag with an integral filter that is a simple, lower cost alternative to other bags which require a filter to be added. The bag can be used with Haemonetics' surgical blood salvage technology or sold independently for use with other blood salvage technologies. Haemonetics estimates this market at about $18 million annually.
Haemonetics will integrate manufacturing and marketing of these products into its operations over the remainder of the fiscal year. The Company will continue to service the small number of existing customers during the integration period and expects to begin a broader limited market release in the first quarter of FY06.
Haemonetics has posted additional details on the products and acquisition on its website at http://www.haemonetics.com/site/content/investor/mediakit.asp.
Haemonetics Corporation
Haemonetics is a global company engaged in the design, manufacture and worldwide marketing of automated blood processing systems. These systems address important medical markets: surgical blood salvage, blood component collection, plasma collection, and blood component safety. To learn more about Haemonetics' products and markets, visit its web site at http://www.haemonetics.com/.
This release contains forward looking statements that involve risks and uncertainties, including technological advances in the medical field and standards for transfusion medicine and our ability to successfully implement products that incorporate such advances and standards, product demand, market acceptance, regulatory uncertainties, the effect of economic and political conditions, the impact of competitive products and pricing, blood product reimbursement policies and practices, foreign currency exchange rates, changes in customers' ordering patterns, the effect of industry consolidation as seen in the plasma market, the effect of communicable diseases and the effect of uncertainties in markets outside the U.S. (including Europe and Asia) in which we operate and other risks detailed in the Company's filings with the Securities and Exchange Commission. The foregoing list should not be construed as exhaustive. The forward-looking statements are based on estimates and assumptions made by management of the Company and are believed to be reasonable, though are inherently uncertain and difficult to predict. Actual results and experience could differ materially from the forward-looking statements.
Contact: Investors and Media Julie Fallon Tel. (781) 356-9517 Alt. Tel. (617) 320-2401 fallon@haemonetics.com Customers Lise Halpern Tel. (781) 356-9373 lhalpern@haemonetics.com
Haemonetics Corporation
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