Haemonetics ( HAE Quick Quote HAE - Free Report) recently announced that patients have been treated with the VASCADE MVP Venous Vascular Closure system in Germany. This marks the first use of the VASCADE system portfolio in a European country, having been extensively used in hospitals across the United States.
The expansion of the VASCADE system portfolio outside the United States represents a significant milestone for the company’s vascular closure business.
Significance of the VASCADE System
The VASCADE system is designed for "small-bore" femoral arterial and venous closure, generally used in interventional cardiology and peripheral vascular procedures. The VASCADE MVP system is designed for "mid-bore" multi-access femoral venous closure, generally used in electrophysiology procedures. Both closure devices are CE-marked under the EU-MDR (European Medical Device Regulations) for use in patients who have undergone catheter-based procedures with single or multiple access sites in one or both limbs.
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The VASCADE and VASCADE MVP systems include proprietary collapsible disc technology and a resorbable collagen patch to achieve hemostasis. The design of the systems saves time for hospital staff while helping patients reach hemostasis faster with fewer complications, on average, compared to manual compression.
More on the News
Haemonetics is preparing to further expand the VASCADE system portfolio in other markets outside the United States. Following the launch in Germany, the company has already introduced the VASCADE systems for use in Italy.
Moreover, an exclusive agreement with Japan Lifeline Co. Ltd was announced by Haemonetics for the distribution of the VASCADE MVP system in Japan. The launch is expected to occur later this year.
Per HAE’s representative, the global commercialization of the VASCADE portfolio fortifies the company’s prominence in improving hospital operations and raising standards of care for patients. The company is set to expand its presence in the global interventional cardiology and electrophysiology markets to meet the ongoing needs of physicians worldwide.
Industry Prospects Per a Research report, the global peripheral vascular device market was valued at $6.5 billion in 2022 and is expected to witness a CAGR of 7.4% by 2030. Recent Highlights
In the first quarter of fiscal 2024, Haemonetics received approval for VASCADE MVP in Japan and initiated the clinical use of its Vascular Closure products in key accounts in Germany and Italy. Going by the company's last update, the initial customer feedback was positive.
In the past six months, Shares of HAE have rallied 16% against the
industry’s decline of 2.1%. Zacks Rank and Other Key Picks
Haemonetics currently sports a Zacks Rank #1 (Strong Buy).
Some other top-ranked stocks in the broader medical space are
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