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Haemonetics (HAE) Buys enicor to Expand Testing Portfolio
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Haemonetics Corporation (HAE - Free Report) announced that it acquired enicor GmbH, a Germany-based privately held manufacturer of a new-generation whole blood coagulation testing system called ClotPro. Per the terms of the agreement, all the outstanding share capital of enicor are now part of Haemonetics.
Per Haemonetics’ management, the ClotPro analyzer and its related active tip technology will be instrumental in driving its Innovation Agenda. Notably, the ClotPro system received the CE Mark in 2019 and is currently available in select European and Asia Pacific markets. However, the system is not yet available for use or sale in the United States.
With the acquisition, Haemonetics aims to strengthen its Hemostasis Management business globally. Notably, Hemostasis Management is a component of the company’s Hospital segment.
Rationale Behind the Buyout
The ClotPro system, which is an innovative viscoelastic diagnostic device, offers more assays unlike other hemostasis analyzers currently available. The system along with Haemonetics’ existing TEG 5000 Hemostasis Analyzer and TEG 6s Hemostasis Analyzer's site-of-care technology will likely provide a wider range of offerings in certain most critical areas of medicine.
Further, the ClotPro system reduces the requirement of manual pipetting due to its unique active tip technology, thus significantly eliminating the chances of error and reagent handling. The features along with the easy-to-use design provide more flexibility and increased throughput in lab-based and clinical settings.
Industry Prospects
Per a report by The Business Research Company, the global hemostasis analyzers market was valued at $3.67 billion in 2018 and is expected to reach $5.35 billion in 2022, witnessing a CAGR of 9.9%. Factors like growing awareness regarding blood disorders and the rising incidents of cardiovascular problems are expected to drive the market.
Given the market potential, the acquisition seems well-timed.
Recent Developments in TEG Portfolio
Of late, Haemonetics has seen a series of developments in its product portfolio.
The company announced the purchase of the underlying technology of TEG 6s Hemostasis Analyzer System from CoraMed Technologies in January. The closing of the deal provided Haemonetics with the ownership of intellectual property from CoraMed on an exclusive basis in the field of hospitals and hospital laboratories, allowing Haemonetics to pursue site of care opportunities beyond the hospital setting.
In November 2019, Haemonetics announced the global commercial availability for the four-channel TEG 6s PlateletMapping ADP & AA assay cartridge, which is to be used with the TEG 6s Hemostasis Analyzer System. Notably, the cartridge is approved by the FDA for use in cardiology and cardiovascular surgery. Further, it is CE-marked and available internationally with broader indications.
Price Performance
Shares of the company have climbed 10% in the past year against the industry’s 16.8% decline. Haemonetics has also outperformed the S&P 500’s 14.2% decline.
Zacks Rank & Key Picks
Currently, Haemonetics carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are ResMed Inc. (RMD - Free Report) , National Vision Holdings, Inc. (EYE - Free Report) and Phibro Animal Health Corporation (PAHC - Free Report) .
National Vision’s long-term earnings growth rate is estimated at 10.7%. The company presently has a Zacks Rank #2.
Phibro’s long-term earnings growth rate is estimated at 2.1%. It currently carries a Zacks Rank #2.
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Haemonetics (HAE) Buys enicor to Expand Testing Portfolio
Haemonetics Corporation (HAE - Free Report) announced that it acquired enicor GmbH, a Germany-based privately held manufacturer of a new-generation whole blood coagulation testing system called ClotPro. Per the terms of the agreement, all the outstanding share capital of enicor are now part of Haemonetics.
Per Haemonetics’ management, the ClotPro analyzer and its related active tip technology will be instrumental in driving its Innovation Agenda. Notably, the ClotPro system received the CE Mark in 2019 and is currently available in select European and Asia Pacific markets. However, the system is not yet available for use or sale in the United States.
With the acquisition, Haemonetics aims to strengthen its Hemostasis Management business globally. Notably, Hemostasis Management is a component of the company’s Hospital segment.
Rationale Behind the Buyout
The ClotPro system, which is an innovative viscoelastic diagnostic device, offers more assays unlike other hemostasis analyzers currently available. The system along with Haemonetics’ existing TEG 5000 Hemostasis Analyzer and TEG 6s Hemostasis Analyzer's site-of-care technology will likely provide a wider range of offerings in certain most critical areas of medicine.
Further, the ClotPro system reduces the requirement of manual pipetting due to its unique active tip technology, thus significantly eliminating the chances of error and reagent handling. The features along with the easy-to-use design provide more flexibility and increased throughput in lab-based and clinical settings.
Industry Prospects
Per a report by The Business Research Company, the global hemostasis analyzers market was valued at $3.67 billion in 2018 and is expected to reach $5.35 billion in 2022, witnessing a CAGR of 9.9%. Factors like growing awareness regarding blood disorders and the rising incidents of cardiovascular problems are expected to drive the market.
Given the market potential, the acquisition seems well-timed.
Recent Developments in TEG Portfolio
Of late, Haemonetics has seen a series of developments in its product portfolio.
The company announced the purchase of the underlying technology of TEG 6s Hemostasis Analyzer System from CoraMed Technologies in January. The closing of the deal provided Haemonetics with the ownership of intellectual property from CoraMed on an exclusive basis in the field of hospitals and hospital laboratories, allowing Haemonetics to pursue site of care opportunities beyond the hospital setting.
In November 2019, Haemonetics announced the global commercial availability for the four-channel TEG 6s PlateletMapping ADP & AA assay cartridge, which is to be used with the TEG 6s Hemostasis Analyzer System. Notably, the cartridge is approved by the FDA for use in cardiology and cardiovascular surgery. Further, it is CE-marked and available internationally with broader indications.
Price Performance
Shares of the company have climbed 10% in the past year against the industry’s 16.8% decline. Haemonetics has also outperformed the S&P 500’s 14.2% decline.
Zacks Rank & Key Picks
Currently, Haemonetics carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are ResMed Inc. (RMD - Free Report) , National Vision Holdings, Inc. (EYE - Free Report) and Phibro Animal Health Corporation (PAHC - Free Report) .
ResMed has a projected long-term earnings growth rate of 14.4%. It currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
National Vision’s long-term earnings growth rate is estimated at 10.7%. The company presently has a Zacks Rank #2.
Phibro’s long-term earnings growth rate is estimated at 2.1%. It currently carries a Zacks Rank #2.
Breakout Biotech Stocks with Triple-Digit Profit Potential
The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases.
Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. Our recent biotech recommendations have produced gains of +50%, +83% and +164% in as little as 2 months. The stocks in this report could perform even better.
See these 7 breakthrough stocks now>>