Haemonetics Launches Limited Market Release for New VASCADE MVP XL Vascular Closure Device

Rhea-AI Summary

Haemonetics (NYSE: HAE) has launched a market release of its new VASCADE MVP XL, a mid-bore venous closure device. This device is an extension of the VASCADE portfolio, featuring a collapsible disc and a resorbable collagen patch for rapid hemostasis. The VASCADE MVP XL system utilizes 58% more collagen and is designed for larger procedural sheaths up to 15F in outer diameter. It targets procedures like cryoablation and left atrial appendage closure for atrial fibrillation patients. The device has received pre-market approval from the FDA and the first procedure has been successfully performed by Dr. Tom McElderry at the University of Alabama at Birmingham. Haemonetics aims to capture a share of the $2.7 billion vascular closure market and plans a full market release later this year.

Positive

• Launch of new VASCADE MVP XL, expanding the VASCADE portfolio.
• Targeting the $2.7 billion vascular closure market.
• FDA pre-market approval received.
• First successful procedure performed by Dr. Tom McElderry.
• 58% more collagen and larger disc enhancing closure capabilities.
• Full market release anticipated later this year.

Negative

• market release indicates possible initial production constraints.

News Market Reaction

+0.12%

1 alert

+0.12% News Effect

On the day this news was published, HAE gained 0.12%, reflecting a mild positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

BOSTON, June 18, 2024 /PRNewswire/ -- Haemonetics Corporation (NYSE: HAE), a global medical technology company focused on delivering innovative solutions to drive better patient outcomes, has launched a limited market release of its new VASCADE MVP^® XL mid-bore venous closure device. The VASCADE MVP XL system expands Haemonetics' VASCADE^® portfolio of vascular closure systems featuring an innovative collapsible disc technology and a proprietary resorbable collagen patch designed to promote rapid hemostasis.

Haemonetics' current VASCADE portfolio includes the VASCADE system, designed for "small-bore" femoral arterial and venous closure with standard 5-6/7F procedural sheaths, and the VASCADE MVP^® system, designed for "mid-bore" multi-access femoral venous closure with 6-12F procedural sheaths. The upsized VASCADE MVP XL system utilizes 58% more collagen and a larger disc than the current VASCADE MVP system, providing a robust closure solution for procedures requiring 10-12F sheaths (up to 15F in outer diameter) such as cryoablation and left atrial appendage closure for atrial fibrillation patients.

"With VASCADE MVP XL, Haemonetics continues to expand its presence and broaden its reach in the $2.7 billion total addressable market for vascular closure solutions," said Stew Strong, President of Global Hospital at Haemonetics. "The introduction of VASCADE MVP XL underscores our commitment to innovation and improving patient care, as we enhance our range of vascular closure solutions to address increasing demand for catheter-based ablation technologies. We are enthusiastic about the initial launch of VASCADE MVP XL and anticipate a full market release later this year."

The VASCADE MVP XL system earned pre-market approval from the U.S. Food and Drug Administration this spring. The limited market release follows the first procedure performed using VASCADE MVP XL by Dr. Tom McElderry, Section Chief, Electrophysiology and Co-Director Heart & Vascular Center at the University of Alabama at Birmingham.

About Haemonetics

Haemonetics (NYSE: HAE) is a global healthcare company dedicated to providing a suite of innovative medical products and solutions for customers, to help them improve patient care and reduce the cost of healthcare. Our technology addresses important medical markets: blood and plasma component collection, the surgical suite and hospital transfusion services. Haemonetics' Global Hospital business provides a range of solutions to address the needs of hospitals, including Interventional Technologies for electrophysiology and interventional cardiology, and Blood Management Technologies that include diagnostics to help inform treatment decisions, technologies to help avoid unnecessary allogeneic transfusions and solutions to help optimize management of blood products. To learn more about Haemonetics, visit www.haemonetics.com.

Cautionary Statement Regarding Forward-Looking Information 

Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. Forward-looking statements in this press release may include, without limitation, statements regarding plans and objectives of management for the operation of Haemonetics, including statements regarding potential benefits associated with the Vascade MVP XL vascular closure device and Haemonetics' plans or objectives related to the commercialization of such product. Such forward-looking statements are not meant to predict or guarantee actual results, performance, events or circumstances and may not be realized because they are based upon Haemonetics' current projections, plans, objectives, beliefs, expectations, estimates and assumptions and are subject to a number of risks and uncertainties and other influences. Actual results and the timing of certain events and circumstances may differ materially from those described by the forward-looking statements as a result of these risks and uncertainties. Factors that may influence or contribute to the inaccuracy of the forward-looking statements or cause actual results to differ materially from expected or desired results may include, without limitation, product quality; market acceptance; the effect of global economic and political conditions; and the impact of competitive products and pricing. These and other factors are identified and described in more detail in Haemonetics' periodic reports and other filings with the U.S. Securities and Exchange Commission. Haemonetics does not undertake to update these forward-looking statements.

Investor Contacts:
Olga Guyette, Vice President-Investor Relations & Treasury	David Trenk, Manager-Investor Relations
(781) 356-9763	(203) 733-4987
olga.guyette@haemonetics.com	david.trenk@haemonetics.com
Media Contact:
Josh Gitelson, Senior Director-Global Communications
(781) 356-9776
josh.gitelson@haemonetics.com

 

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SOURCE Haemonetics Corporation

FAQ

What is the new product Haemonetics launched?

Haemonetics launched the VASCADE MVP XL, a mid-bore venous closure device.

When did Haemonetics launch the VASCADE MVP XL?

Haemonetics launched the VASCADE MVP XL on June 18, 2024.

What approvals has the VASCADE MVP XL received?

The VASCADE MVP XL received pre-market approval from the U.S. Food and Drug Administration (FDA).

Who performed the first procedure using the VASCADE MVP XL?

Dr. Tom McElderry performed the first procedure using the VASCADE MVP XL.

What is the significance of VASCADE MVP XL for Haemonetics?

The VASCADE MVP XL enhances Haemonetics' VASCADE portfolio, targets larger procedural sheaths, and aims to capture a share of the $2.7 billion vascular closure market.

What are the new features of the VASCADE MVP XL?

The VASCADE MVP XL features a collapsible disc, a resorbable collagen patch, and uses 58% more collagen for enhanced closure capabilities.

When is the full market release of VASCADE MVP XL expected?

The full market release of VASCADE MVP XL is anticipated later this year.