Haemonetics (HAE)

Haemonetics was founded in 1971 and became publicly owned in 1979. A division of American Hospital Supply Corporation, and then DuPont in 1985, the company completed its Initial Public Offering in 1991, with Du Pont divesting its remaining interest. The company is the market leader in developing and manufacturing blood collection and processing technology to help ensure a safe and adequate blood supply. The company manufactures automated systems and single use consumables used in blood donation, blood processing, and surgical salvage of blood. Haemonetics' customers are blood banks and plasma collectors, hospitals and hospital service providers. The Japanese Red Cross is its largest customer. In 2004, the company reorganized into two product groups to address the blood donor and surgical patient markets. In Donor Products, the company offers automated plasma and platelet collection systems, as well as processing systems to freeze, thaw and wash red blood cells. The company also contract manufactures sterile I.V. solutions for pharmaceutical customers. In Patient Products, the company offers surgical blood salvage systems that are used to collect the patient's own blood that is then reused rather than lost. Haemonetics also markets data management systems through their Haemonetics Software Solutions subsidiary to promote efficient and compliant operations of blood collection vendors. The company operates in the U.S., Europe and Asia, including Japan. Haemonetics markets its products in more than 50 countries, using a direct sales force as well as some independent distributors, totaling 1,875 full time employees. In fiscal 2008, the company generated $516.4 million in revenues, with roughly 45% of revenues generated in the U.S.

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