Haemonetics (HAE) Launches SafeTrace Tx In North America

Haemonetics Corporation (NYSE:HAE) announced the commercial availability of its SafeTrace Tx transfusion management software, a blood bank information system (BBIS), in North America. The next-generation offering is user friendly and has a contemporary look. It also helps elevate transfusion safety, interoperability, workflow efficiency and continuity of care.

Per the company, most hospitals use SafeTrace Tx as it supports safe, efficient and effective blood bank operations. The company expects to build on this momentum as interoperability and analytics are continuously gaining importance in Hospital Information Systems.

With the latest commercial release, Haemonetics aims to strengthen its hospital business’ transfusion management products.

Few Words on the Product

SafeTrace Tx is a specialized transfusion management system used in blood banks to manage patient and blood product information. It also aids in determining the suitability of blood products for transfusions.

The company believes that SafeTrace Tx, which has been designed based on input from experienced blood bankers, will greatly enhance data visualizations and analytics.

Recent Developments in Hospital Business

Of late, Haemonetics has been witnessing robust growth in its hospital business’ transfusion management segment.

The company commercially released TEG 6s PlateletMapping ADP (NASDAQ:ADP) & AA assay cartridge in November. The four-channel cartridge is intended for use with TEG 6s Hemostasis Analyzer System, which was cleared by the FDA in May for expanded use in adult trauma cases. Notably, the TEG 6s Hemostasis Analyzer System received the CE Mark and is available globally.

Industry Prospects

Per a report by Mordor Intelligence, the blood transfusion market was valued at $5,704.10 million in 2018. It is anticipated to be valued at $7,865.06 million by 2024, witnessing a CAGR of 5.50% between 2019 and 2024. The key factors driving the market are the rising incidents of surgical procedures, increasing accidents and trauma cases, growing blood disorders and technological development.

Given the huge potential of the market, Haemonetics’ commercial release of the innovative and specialized transfusion management system is well-timed.

Price Performance

Shares of Haemonetics have gained 12.8% in the past year compared with the industry’s 5.7% growth.

Zacks Rank & Other Key Picks

Currently, Haemonetics carries a Zacks Rank #2 (Buy).

Some other top-ranked stocks from the broader medical space are NuVasive, Inc (NASDAQ:NUVA) , National Vision Holdings, Inc (NASDAQ:EYE) and ResMed Inc (NYSE:RMD) .

NuVasive currently has a Zacks Rank #2 and a projected long-term earnings growth rate of 10.9%. 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 17.8%. The company currently carries a Zacks Rank #2.

ResMed’s long-term earnings growth rate is estimated at 12.9%. It currently flaunts a Zacks Rank #1.

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