The Medical Device Business Journal — Medical Device News & Articles | MassDevice
Haemonetics Corp. (NYSE:HAE) said for the second straight quarter that it will not meet previous sales estimates for 2011.
The Braintree, Mass.-based blood management firm narrowed its top-line growth estimate to 6 percent to 7 percent, down from the 6 percent to 9 percent (itself a downgrade from the 9 percent to 12 percent growth forecast Haemonetics issued at the start of its fiscal year).
The readjustment came with the announcement of an otherwise strong third quarter for the company.
Brian Concannon
CEO, Haemonetics Corp.
Brad Nutter, the turnaround artist who helped pump new life into Haemonetics Corp. (NYSE:HAE) as CEO and later chairman of the board, said he will retire from the company’s board of directors effective November 1, 2010.
The move, announced on Monday in conjunction with the company’s first quarter earnings release, completes the transition to current CEO Brian Concannon, who moved into the corner office in April 2009.
A federal court put the kaibosh on a lower court’s decision to award $15.7 million to Haemonetics Corp. (NYSE:HAE) in a patent spat with Fenwal Inc.
Haemonetics sued Fenwal in 2005, alleging that the then-Baxter Healthcare (NYSE:BAX) subsidiary infringed a Haemonetics patent for a portable blood-collection device.
Haemonetics Corp. (NYSE:HAE) topped expectations for its recently concluded fiscal year, turning in adjusted net income of $74 million on $645 million in revenues during the 12 months ended March 31.
The $2.85-per-share adjusted profit in fiscal 2010 beat most analysts’ forecasts by 2 cents and marked a 16 percent jump from year-ago levels. The Braintree, Mass.-based maker of blood separation tools also said revenues should grow by up to 12 percent next year, with adjusted earnings climbing as much as 14 percent in fiscal 2011.
Haemonetics Corp. (NYSE:HAE) plans to lay off about 170 workers and close facilities in Phoenix and Chicago as it integrates its new, $61 million acquisition, GlobalMed Technologies (OTC:GLOB).
Haemonetics Corp. (NYSE HAE) owns about 90 percent of GlobalMed Technologies Inc. this morning, after its extended tender offer for the California-based software provider expired at midnight March 31.
Nearly a year after stepping down as CEO at Haemonetics Corp. (NYSE:HAE), Brad Nutter cashed in another bloc of his holding’s in the blood management firm.
Nutter exercised just more than 173,000 options to purchase Haemonetics stock granted in July 2006 under a long-term incentive program for top executives. The options were priced at $41.15 a share and he promptly the sold the stock for $57 each — a $15.85-per-share profit resulting in net proceeds of nearly $2.75 million.
Haemonetics Corp. (NYSE:HAE) inked a deal with Quotient Biodiagnostics Group subsidiary Alba Bioscience Ltd. that gives it exclusive access to Alba’s portfolio of blood-typing reagents.
The Braintree, Mass.-based blood management products maker will use the reagents for the Arryx laser blood typing platform, which CEO Brian Concannon calls the entry point into a billion-dollar market.
Haemonetics Corp. (NYSE:HAE) extended its offer for GlobalMed Technologies Inc. to give the California-based software provider time to settle a shareholders lawsuit filed to block the acquisition.
Braintree, Mass.-based Haemonetics issued a $1.22-per-share offer, worth about $60 million and set to expire tonight at midnight, for GlobalMed Feb. 1.
The Food & Drug Administration expanded a 510(k) clearance for a Haemonetics Corp. (NYSE:HAE) device used to collect blood.
The Braintree, Mass.-based firm said the FDA expanded its clearance to use its Cymbal automated blood collection system for female blood donors who weigh at least 150 pounds and are 63 inches in height.
