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Haemonetics (HAE) Expands VASCADE Line With New Limited Launch
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Haemonetics Corporation (HAE - Free Report) , a global medical technology company, has introduced a limited market release of VASCADE MVP XL mid-bore venous closure device. The device comes with innovative collapsible disc technology and a proprietary resorbable collagen patch designed to promote rapid hemostasis.
The latest development is expected to help Haemonetics grab opportunities in the growing vascular closure solutions space.
About VASCADE MVP XL
VASCADE MVP XL system is designed for "mid-bore" multi-access femoral venous closure with 6-12F procedural sheaths. The new VASCADE MVP XL system is expected to provide a robust closure solution for procedures requiring 10-12F sheath (up to 15F in outer diameter) by utilizing 58% more collagen and a larger disc compared with the current VASCADE system.
Earlier this year, VASCADE MVP XL system gained pre-market approval from the U.S. Food and Drug Administration.
More on the News
The launch of VASCADE MVP XL should expand Haemonetics’ VASCADE portfolio of vascular closure systems. HAE’s current VASCADE portfolio includes the VASCADE system, intended for "small-bore" femoral arterial and venous closure with standard 5-6/7F procedural sheaths, and the VASCADE MVP system, for "mid-bore" multi-access femoral venous closure with 6-12F procedural sheaths.
VASCADE MVP XL, while including closure solutions for procedures requiring 10-12F sheaths, is anticipated to upgrade the existing range of vascular closure solutions to cater to the increasing demand for catheter-based ablation technologies. Haemonetics is confident about improving patient care with the new VASCADE MVP XL system.
A full market release of VASCADE MVP XL is expected to happen later this year.
Image Source: Zacks Investment Research
Industry Prospects
Per a Precedence Research report, the global vascular closure devices market size was estimated to be $1.75 billion in 2023 and is predicted to hit $3.30 billion by 2033, at a CAGR of 6.55% during the period. The rise is demand is influenced by primary factors such as increasing rates of cardiovascular diseases, a surge in operations involving catheterization and a growing need for less invasive treatments.
Hence, Haemonatics’ expansion to the VASCADE portfolio of vascular closure systems is well-timed.
Other Recent Developments
In April 2024, Haemonatics received 510(k) clearance from the FDA for the TEG 6s hemostasis analyzer system Global Hemostasis-HN assay cartridge. HAE’s cartridge-based TEG 6s system provides clinicians with complete information about a patient's coagulation profile, accelerating patient care.
Earlier that month, Haemonetics completed the acquisition of privately-held Chicago-based Attune Medical. Attune Medical is the manufacturer of the ensoETM proactive esophageal cooling device. This acquisition is expected to increase Haemonetics’ revenue by $35 million.
Price Performance
Over the past year, shares of HAE have risen 1.6% against the industry’s 2.3% decline.
Zacks Rank and Other Key Picks
Haemonetics current carries a Zacks Rank #1 (Strong Buy).
The Hims & Hers Heath stock has surged 196.9% in the past year. Estimates for the company’s earnings have moved northward by 5.6% to 19 cents for 2024 in the past 30 days.
HIMS’ earnings beat estimates in three of the trailing four quarters and missed in one, delivering an average surprise of 79.2%. In the last reported quarter, it posted an earnings surprise of a staggering 150%.
Estimates for The Joint’s 2024 earnings per share (EPS) have moved up 61.5% to 21 cents in the past 60 days. Shares of JYNT have surged 45.4% year to date against the industry’s 6.2% decline.
In the last reported quarter, JYNT delivered an earnings surprise of 300%. It has a trailing four-quarter average earnings surprise of 18.75%.
Estimates for Lantheus’ fiscal 2024 EPS have moved north 8.4% to $7.11 in the past 60 days. Shares of the company have risen 30.9% year to date compared with the industry’s growth of 2.7%.
LNTH’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 13.6%. In the last reported quarter, it delivered an earnings surprise of 9.03%.
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Haemonetics (HAE) Expands VASCADE Line With New Limited Launch
Haemonetics Corporation (HAE - Free Report) , a global medical technology company, has introduced a limited market release of VASCADE MVP XL mid-bore venous closure device. The device comes with innovative collapsible disc technology and a proprietary resorbable collagen patch designed to promote rapid hemostasis.
The latest development is expected to help Haemonetics grab opportunities in the growing vascular closure solutions space.
About VASCADE MVP XL
VASCADE MVP XL system is designed for "mid-bore" multi-access femoral venous closure with 6-12F procedural sheaths. The new VASCADE MVP XL system is expected to provide a robust closure solution for procedures requiring 10-12F sheath (up to 15F in outer diameter) by utilizing 58% more collagen and a larger disc compared with the current VASCADE system.
Earlier this year, VASCADE MVP XL system gained pre-market approval from the U.S. Food and Drug Administration.
More on the News
The launch of VASCADE MVP XL should expand Haemonetics’ VASCADE portfolio of vascular closure systems. HAE’s current VASCADE portfolio includes the VASCADE system, intended for "small-bore" femoral arterial and venous closure with standard 5-6/7F procedural sheaths, and the VASCADE MVP system, for "mid-bore" multi-access femoral venous closure with 6-12F procedural sheaths.
VASCADE MVP XL, while including closure solutions for procedures requiring 10-12F sheaths, is anticipated to upgrade the existing range of vascular closure solutions to cater to the increasing demand for catheter-based ablation technologies. Haemonetics is confident about improving patient care with the new VASCADE MVP XL system.
A full market release of VASCADE MVP XL is expected to happen later this year.
Image Source: Zacks Investment Research
Industry Prospects
Per a Precedence Research report, the global vascular closure devices market size was estimated to be $1.75 billion in 2023 and is predicted to hit $3.30 billion by 2033, at a CAGR of 6.55% during the period. The rise is demand is influenced by primary factors such as increasing rates of cardiovascular diseases, a surge in operations involving catheterization and a growing need for less invasive treatments.
Hence, Haemonatics’ expansion to the VASCADE portfolio of vascular closure systems is well-timed.
Other Recent Developments
In April 2024, Haemonatics received 510(k) clearance from the FDA for the TEG 6s hemostasis analyzer system Global Hemostasis-HN assay cartridge. HAE’s cartridge-based TEG 6s system provides clinicians with complete information about a patient's coagulation profile, accelerating patient care.
Earlier that month, Haemonetics completed the acquisition of privately-held Chicago-based Attune Medical. Attune Medical is the manufacturer of the ensoETM proactive esophageal cooling device. This acquisition is expected to increase Haemonetics’ revenue by $35 million.
Price Performance
Over the past year, shares of HAE have risen 1.6% against the industry’s 2.3% decline.
Zacks Rank and Other Key Picks
Haemonetics current carries a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks in the broader medical space are Hims & Hers Health, Inc. (HIMS - Free Report) , The Joint Corp. (JYNT - Free Report) and Lantheus Holdings, Inc. . You can see the complete list of today’s Zacks #1 Rank stocks here.
The Hims & Hers Heath stock has surged 196.9% in the past year. Estimates for the company’s earnings have moved northward by 5.6% to 19 cents for 2024 in the past 30 days.
HIMS’ earnings beat estimates in three of the trailing four quarters and missed in one, delivering an average surprise of 79.2%. In the last reported quarter, it posted an earnings surprise of a staggering 150%.
Estimates for The Joint’s 2024 earnings per share (EPS) have moved up 61.5% to 21 cents in the past 60 days. Shares of JYNT have surged 45.4% year to date against the industry’s 6.2% decline.
In the last reported quarter, JYNT delivered an earnings surprise of 300%. It has a trailing four-quarter average earnings surprise of 18.75%.
Estimates for Lantheus’ fiscal 2024 EPS have moved north 8.4% to $7.11 in the past 60 days. Shares of the company have risen 30.9% year to date compared with the industry’s growth of 2.7%.
LNTH’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 13.6%. In the last reported quarter, it delivered an earnings surprise of 9.03%.