January 12, 2004 02:00 PM US Eastern Timezone
Haemonetics Positioned for Growth in Canadian Blood Salvage Market; Company Announces New Distribution Agreement
BRAINTREE, Mass.--(BUSINESS WIRE)--Jan. 12, 2004--Haemonetics Corporation announced today that a new distribution agreement is expected to generate more than $1 million in sales over the next three years for its Patient Division. Under the agreement, Braemed, LTD and Caster Medical Systems have exclusive rights to co-distribute Haemonetics' Cell Saver(R) 5 surgical blood salvage system in Canada for the next three years. The companies did not disclose other terms of the agreement.
Surgical blood salvage is a process in which blood lost by a patient during surgery is collected, cleaned, and made available for transfusion back to the patient. Because the patient receives his own blood, he is assured the safest blood possible.
Haemonetics' Cell Saver 5 systems are currently used in over 400,000 procedures throughout the world annually, where the Company's technology enjoys 55% market share. In Canada, there are approximately 70,000 procedures that have the potential to use surgical blood salvage technology. Haemonetics expects this new partnership to position it for 50% annual procedure growth in Canada over the next three years. Fiscal 03 disposables sales for Haemonetics' Patient Division worldwide were $68 million.
Brian Concannon, President of Haemonetics' Patient Division, said, "Blood salvage is beneficial to many surgical patients and can ease pressure on the blood supply. We are excited that the benefits of surgical blood salvage and the Cell Saver system will be delivered to Canadian patients through Braemed and Caster Medical."
Haemonetics (NYSE: HAE) is a global company engaged in the design, manufacture and worldwide marketing of automated blood processing systems. These systems address important medical markets: surgical blood salvage, blood component collection, plasma collection, and blood component safety. To learn more about Haemonetics' products and markets, visit its web site at
http://www.haemonetics.com.
This release contains forward looking statements that involve risks and uncertainties, including technological advances in the medical field and standards for transfusion medicine and our ability to successfully implement products that incorporate such advances and standards, product demand, market acceptance, regulatory uncertainties, the effect of economic and political conditions, the impact of competitive products and pricing, blood product reimbursement policies and practices, foreign currency exchange rates, changes in customers' ordering patterns, the effect of communicable diseases and the effect of uncertainties in markets outside the U.S. (including Europe and Asia) in which we operate and other risks detailed in the Company's filings with the Securities and Exchange Commission. The forward-looking statements are based on estimates and assumptions made by management of the Company and are believed to be reasonable, though are inherently uncertain and difficult to predict. Actual results and experience could differ materially from the forward-looking statements.
Contacts
Haemonetics
Julie Fallon, 781-356-9517
fallon@haemonetics.com
or
Braemed Ltd.
Frank Bragg, 902-468-7544
or
Caster Medical Systems
Bob Caster, 905-338-8711
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