HAE - Earnings call 2 2024 | Haemonetics Corporation

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Operator

Good day, and thank you for standing by, and welcome to the Second Quarter 2024 Haemonetics Corporation Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speaker's presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Olga Guyette, Senior Director, Investor Relations and Treasury. ahead. go Please

Olga Guyette

CEO; Thank quarter everyone. call joining for business; our our CFO. and Simon, fiscal us along webcast. of Good first our Investor you our Relations we This year fiscal 'XX D'Arecca, half second our first updated Chris and website, by and joined conference quarter Strong, fiscal half Haemonetics James President I'm guidance. XXXX our Hospital morning, today morning, for Stewart year and posted Global second results to with XXXX

performance. Before we refer quick exclude measures impact reminder and revenue Haemonetics' financial all and Please of charges today that certain business help other the to discussed are items. note begin, just to that exclude also a growth understand measures rates these We'll income non-GAAP currency fluctuations. investors organic ongoing

half a our to quarter year please items, refer full to the release website. GAAP results first year excluded list second prior For comparisons with available on periods, fiscal reconciliations our our XXXX earnings of in and

filings. statement And update and our in harbor Chris. include statements, We to include to from obligation I'd in today's may and turn materially any do like these other earnings results undertake differ Factors now may results. SEC the anticipated the not our remarks forward-looking statements. in safe referenced results to cause Our release those our differ actual to today forward-looking it that over

Christopher Simon

and the momentum share earnings XX% quarter joining. the continues you our Adjusted we thank the for and diluted Today, over reported XX% fiscal and prior morning, all second X% growth per in in our Good leadership and of build, XXXX year. was first growth in Olga. in $X.XX, Plasma advance organic we Thanks, Hospital. second to quarter half as revenue of

X% of updated points fiscal of year range. the organic midpoint represents XX%, to from guidance X% our revenue this XX% at We increase XX company total basis growth to XXXX to which raising are an

generate returns. Our performance establishing of financial superior positions impact strategy speaks markets in focused our to growth the transformative on to leading high-growth

We while in presence are businesses. and industry in growth Plasma steps and growth support of and ahead global investing leadership our innovation Hospital long-range by plan, revenue to and our earnings taking delivering our impactful broadening

Our to on improved contributing expansion. operating drive continues operational excellence and program productivity focus and efficiency our leverage to margin

growing interventional to We portfolio optic we rebalance accretive can our a manufacturer device with acquire continue in Expanding our unique for while scale value a to exciting agreement solutions. by and providing primarily markets growth announced Inc., through add medical attractive OpSens's portfolio In hospital October, in OpSens investing and benefits. of products use enabling cardiology. opportunities financial creates we immediately a sensor definitive technology where diversification

the our Additionally, whole we line blood regulatory made manufacturing associated of as part including and our strategy increased have the of to and the parts in requirements, collection analyzer operations. ClotPro portfolio, rationalize consideration of in growth decision system and products

on XX% top quarter our We are year-to-date, delivering the XX%-plus growth of quarter and with closely working another XX% customers of in America transitions. committed and these volume last Persona. Plasma grew revenue growth second by double-digit through on NexSys the price growth experienced amongst the disproportionately customers year-to-date, disposables year. with period same XX% in driven North we and quarter in X% in our the to grew

seasonality. growth consecutive due In collection our U.S., half an favorable, of and advance we solutions. quarter quarter share gains NexLynk the in notching end-to-end XX% the market grew and to as in the latest to to historical additional exceeding revenue collections software environment the continued upgrades the plasma XX% only be Software the first of leadership eighth provider as

strong inventory management rebound U.S. one in volume resulting support Our a of our vendors, unanticipated market and in necessary was below levels interruptions supply collections with share. collection plasma growth our enhanced leading slightly to to due measures

and with Our further but by standard, NexSys Center underway. enable plasma costs. plasma we bowl and to revenue with to times, million against to industry our of customers growth guidance is is Blood are them continued collection and organic to technology the market. optimize the estate range achieving win release and our providing donors in XX%. higher to our These through volume installation momentum plasma these center customers enabling the real started deliver our in to speed and X.X this tools challenges, strong We X% we centers, just ongoing operational raising efficiencies. systems to grew from ability quarter of additional from Plasma years. XX in and temporary the competitive utilization benefits committed customers to throughputs center we X% are enhancements revenue on supply necessary in retaining the work X% Plus the market the first to XX% annual by we plasma the litres flat second strong pipeline, red remain are in improved market plasma and XX helping our and donor XX% Encouraged in Egypt. half, our confidence of realize strong R&D first other helping quarter the collections, plasma increase coupled collection without million This recent to Express collect initiatives capital in the in was higher in NexSys X% on portfolio. the increased declined With the enable sales cell procedures driven is priorities. with from new revenue Persona, overhead half. across Apheresis associated average staffing plasma and procedure Limited focused attracting With of to over satisfaction. mature X multiple equivalent door-to-door

capitalizing and parts worldwide portfolio. quarter the last the opportunity about the excited Blood quarter declined this the first XX% voluntary are market revenue Blood. got Whole We XX% the our focus and result X% Whole We to decision opportunities driven growth collaborate In from minus on in decline and supply. Blood strategic update growth guidance half, dilution our plasma margin apheresis in on to of rationalize a we X%. Blood minus 'XX for revenue minus to with conditions Center revenue fiscal and within by as customers X% limiting X Blood Center the to global recall minus Center, remains our to to boost the our product portfolio in announced of challenging

to Now discuss Stu over to hospital our business.

Stewart Strong

business excited business Thanks, Chris Chris, our morning, talk I'm James and recent join good everyone. hospital development and our efforts. about and to performance to

disproportionately Let growth business. in XX% openings, hospital XX% cardiology. and second and increased in interventional and Vascular quarter grew business me XX% by Vascular our half guidance. first Total in with account both fiscal in and driven Closure XXXX our quarter driven Closure by new begin revenue second second quarter electrophysiology year-to-date, and business results year-to-date hospital the the

first our We the continue procedure Internationally, see U.S. benefits quarter hospitals increased launch increased to the deployment hospitals. some had after driven and TEG by gaining grew in Germany in volumes strong and improving towards quarter. U.S. of offset are in from from saw to management the second capital we year-to-date. and recognition improvements utilization Hemostasis efforts price, strong as was in new education Japan in by the end in a Growth XX% lower revenue rates product in and disposables partially by commercial and in our and utilization we swiftly by fueled our products the pressure U.S. start quarter. clinical year-to-date the Italy, quarter budgetary of X% the constraints

sustain ClotPro growth As that life on to focus you our revenue are best positioned as a products system. and our analyzer part to from we expansion, decided of of heard Chris, have strategy to margin end

work America and continued management grew diminished Xs ClotPro. in quarter rest by strong differences in year-to-date. and see driven performance an which distributors had we Cell were increasing order in U.S. U.S. cell Europe. benefits in salvage customers a outside in the hospitals. will X% transfusion in market timing system performance the U.S. our of These gains with to transfusion second offer our hospital by Salvage The among was management share to continue was the We includes the portfolio, as TEG utilization North and alternative flat as Strong to

As will second revenue in we Management we growth in Hemostasis the look expect growth at an which by Closure. year, our remainder driven of Vascular fiscal the be half, and acceleration of

to the range in full the our with consistent we XX%. of delivered or year, expect growth the revenue be XX% revenue For year to growth last we

technology. and Now avenues This exciting and to diversification solutions let OpSens is cardiology core we in opportunity, guidewire already fractional reserve creating clinical delivering using that color total additional in sensing aid ventricular adds $X.X a add products by aims very interventional OpSens $X.X its business And flow growth high-growth during With pressure about and procedures. the of the OptoWire, for technologies additional procedure-enabling me to billion our to an another with addressable electrophysiology. cardiology plans a company, focused us our continue device OpSens interventional additional hospital areas and optical billion proprietary in on market as like for milestone based expand acquire about our medical of coronary Vascular treatment customers sensing synergistic being improve and about and market to while our world's outcomes sensor diagnosis innovative Closure pacing hospital today, clinicians relevant measuring SavvyWire, that vessel with left include products. to Guidewire pressure guided TAVR provides disease. only a patients first artery X-in-X in

where week, additional live of we procedures. trial In were in X Cardiology, and SavvyWire, Journal was the broadcast TCT American use effective Francisco in and published cases from last the College of data highlighting San TAVR attended safe featuring SavvyWire of presented the SAFE-TAVI fact, in the

on interventional focus manufactures business footprint. that commercial more years, in part critical a strengthening continue devices expand capabilities to their OpSens range solutions medical in in been optic and R&D our and our into sensing cardiology, applications. our will OEM clinical reach other our our a and recent geographies. of electrophysiology fourfold industrial of expansion has and teams products In as procedures commercial of Additionally, of and fiber and our bolstering used enhance resulting in

and products internationally hospitals the the portfolio to technologies we've with acquisition create estimate XX% in strategy We accounts and of PCI than target further to this the to performing pull-through. market including will enabling the and reach, able plan the combined to of markets. XXX within on group. end XX% expand our our opportunities top TAVR about build with of OpSens on procedures. fiscal steadily top XXXX approximately set our allow U.S., U.S. portfolio by hospitals, our OpSens EP. accelerate this global all these these XX% relationships of With additional More access been our cross procedures of increasing synergies, in be and commercial year targeting of XX% or us for Outside We success nearly share will procedures of strengthening all

investments Organically, large new pipeline PerQseal, strategic with underway bore system our and procedures for the that IDE and standard we the TAVR future our completion and of Medical, business called would increase advancing very focused a extensive arterial portfolio vessel business mid-calendar for VASCADE trial thromboelastography other made about our our on our we've or R&D quarters, access. Vivisure XXXX. advantageous and an the several has requiring include These technologies care and estimated an in developed our expansion like which have interventional improve enabling and is also past to address Closure our new expanding hospital procedures with efforts assays. portfolio the excited company the include either emerging a product technologies. device Over We're reach year that by venous is EVAR. further to We relevance. Vascular opportunity TEG procedure-enabling incredible of U.S. Xs complement date closure technologies [indiscernible] with investments

James turn results of discuss Now to guidance. financial James? year to fiscal the I'll and over things our XXXX rest

James D'Arecca

and Thank XXXX morning, additional results fiscal good updates some begin I'll our to with you, Stu, and our business everyone. guidance.

of operating business, which an the products, margin adjusted prior depreciation margin the of the our in in and basis margin Adjusted points volume quarter were half first benefits with our $X.X the of XX%, second the million margins million year. year-to-date for adjustment by gross decrease onetime basis These demand and XX compared quarter reduced XX year. product Blood adjusted $X.X prior was compared meet X% expense increase with operations and mix a points momentum gross $XXX.X investments voluntary recall expenses and quarter Both second U.S. the increase product were Adjusted the quarter. Second $X year. the was impacted benefited to of an particularly experience to due needed gross our second prior and in higher second a million quarter with geographic gross to of from a in quarter strong compared Whole as upfront and of of we or continue favorable Hospital, the million, price, the Plasma year-to-date second in XX.X%, unprecedented

respectively. half, expenses operating was quarter a the year. second quarter the Adjusted operating Adjusted operational $XXX.X first lower with The about and by XX increases representing by increase organic investments, prior points program. percentage million, XX.X% $XXX.X of As in higher revenue, prior of when million million the of adjusted year-to-date expense million compared year-to-date operating an growth $XX.X and decreased compared adjusted and basis the excellence $X revenue. was of were at $X expenses second X% offset million, the increase with to income to million and operating in the year related of XX.X% in $XX the savings or quarter expenses freight from in partially

the percentage up the points, a basis compared fiscal and the and XX.X% points with XX% was same basis revenue, half, adjusted XXX operating first second XXXX. periods in margin of in quarter respectively, the As XXX in when

experience momentum are results we business. continue to our and enthusiastic We in first about our half the

exchange year, the changes As second volatility from geographic environment, half challenging foreign a product of impact and we look this macro mix. acknowledge an fiscal in anticipated we in at and

margin updating our first higher adjusted guidance operating approximately half better results. are XX% to leverage We our in to reflect

our Our and and adjusted the additional about business. the XX% $XX in compared in updated million income across was period target respectively. savings, guidance from The year-to-date million year, excellence with in quarter in gross tax generating program XX% also second the or savings efficiency XX% rate prior net operational $X the same includes XX% of

adjusted expect We tax fiscal be rate to income XXXX XX%. our

the million adjusted was Second adjusted income share quarter XX%, quarter earnings and per XX% million, XXXX. up up with of diluted when also net fiscal second was or $XX.X $X.XX, $X compared

our and million half $X.XX combination of per interest and the adjusted with the adjusted about a favorable the $X.XX, performance with impact was compared of net of prior in expense, up year first in changes First or earnings income tax XX%, second share year. year-to-date favorable quarter We're had months net when compared up $X.XX The was rate, XX% $XXX.X fiscal FX in our the income, $XX share half first count impact excited XXXX. adjusted and million, XXXX. the diluted the a when of X interest fiscal income

to from about of from our just discussed in our second We the be add are our negative midpoint growth fiscal the or an earnings let below-the-line foreign $X.XX updating at of we which adjusted half.Now that the exchange approximately EPS initiatives per as share I portfolio unfavorable in detail call. impact impact diluted expense more XXXX interest anticipate discussed the guidance items beginning the a to our in range range, includes me $X.XX and adjusted of XX% at $X.XX Chris guidance our

transaction and acquire to January earnings expected agreement margins definitive our due adjusted to accretive OpSens gross we That on XXXX transaction about impact this diluted to the excited revenue of immediately said, end growth, share. the adjusted minimal to XXXX, and are expect adjusted results. our be fiscal close We per expect by of this

In Additionally, Whole executed Whole our rightsize on portfolio envision to years customers Whole and timing portfolio operating processing our adjusted and are hospital XXXX the we improvements gross as in alternative process system. for efficient initiatives. Whole Blood analyzer for moving transfusions. with bedside plan collection the anticipate affecting including transitioning of size to our our we Blood products, several the to business of rationalize of initiated Due Blood, products. our will don't time, rationalization with them results. We've footprint portfolio, parts we multiple of work products the them over our and Over the manufacturing margins. these on ClotPro set changes, and and be Blood cell rationalization fiscal forward we products high-growth, focus the we low-margin end-of-life The rest keep high-margin with in-line

million cash Turning higher was more now with net this levels, which last flow flow operations attributed inventory sheet to fiscal year. year, primarily the higher $XXX income NexSys months $XXX select balance for than and PCS from compared X to Cash offset highlights. million

changes was same time working year a increase PCS costs of As our inventory half to year, continue in $XX million to restructuring-related our to at $XX and primarily with on million and Free to throughout replenishing due the device flow NexSys first work the capital cash fiscal less the expect reminder, we continue of devices this inventory capital compared in year. and last restructuring expenditures. before

generate confident working free understated cash capital of changes were guidance in we previously flow before some costs to to million to capital restructuring-related reflect flow, in increasing are our issued range are our from guidance. free in our and benefits restructuring to of cash and $XXX better for ability We $XXX million and our a plans, which

the Our financial since execute cash up business to quarter, had operate our flexibility capital and our allocation to we year. provide disciplined $XX beginning end position million hand, the of strategy. continues At us on our second million this of of fiscal $XXX

We our us providing like acquisition the utilize the initiatives. EBITDA liquidity both To to in with our adjusted revolver takeaways untapped after revolving term call. drawdown a U.S. plan of key also M&A allowing to on facility, small opportunistic today's leverage from expect million balance ratio fund the and investments, X.Xx organic some be the I'd in remain run. to summarize to long additional around close, and short with potentially conclude, growth OpSens cash credit majority to $XXX coupled to had of and fund the We of the additional

strong, ability mid in deliver remain term. first margin to in to the growth sustainable and half expansion our Our we results confident long and were

our we continued portfolio Plasma, In growth-focused investments additional enthusiastic through and throughout momentum our momentum. are accelerating transformation business. collections plasma are We about

disposables that cost We reduces with litre. taking the innovation for the reinforce are market-leading to necessary steps further demand the per support position and our additional our

Our opportunities hospital create for portfolio is evolving us new and growth and helping diversification.

cardiology, revenue augmenting our We interventional value committed stakeholders. to And creation committed our further for growth and all remain we broadening will accelerate presence our scale margin to in are further our which expansion. and lastly,

share we And throughout you. capital and capacity good growth open plan put long-range like to to top for accelerate to our buybacks. investments continues and bottom growth line to grow, it M&A, our line use would the Q&A. additional opportunistic organic Thank through As to now I plan

Operator

so [Operator question Mizuho Group. Anthony Your presenters. of much, the you first Thank from Petrone Instructions] of comes line

Your line is now open.

Anthony Petrone

quarter Good acquisition. Maybe, and recent start moving could OpSens just parts here also I and Plasma the the a some Chris, little of bit there. with on

You the new did few months announce of ago a a rollout system.

So wondering, driver. being just We you fractionators catch-up maybe inventory by of some the if still can drivers, the have upgrade terms discontinued in opportunities. one persona bucket between

benefit So next-generation the And from lastly, how contribute? plasma much of was of that did then system? any I'll have a rollout there And then couple the follow-ups.

Christopher Simon

very for is Good seasonality of -- regards questions. the longer double-digit historical and quarter we intermediate morning, above right? Anthony. Thanks there. This near, to growth, momentum continues bullish, our eighth yet remain the term, With Plasma, seasonality and

I today, think to doing collection estimates as everything loss is is are pandemic the the through that our estimating as as fractionators XX they is can. that industry the that's what closely our environment as million much -- are related our collections potentially robust

not, that through pandemic. pace slow keeping way, in just demand probably end they're did the market However, with any

certainly part, to We're that gap. our So close particularly there's regards year-to-date And through Persona With gap. through with in think NexSys enhancements I help keen close second our results It's itself, them a and limited and we Express benefits see doing to meaningful quarter. to associated we're the advertised, and you the the time release. ultimately, and gap that made, and now there the donor in additional the really the as the device to performing sat. Plus we've and market upgrades time about are excited in procedure bowl both door-to-door that

making So good one plan, progress.

issues changes, on a our it's with collaborating want we and that to real-time this. moment. in meaningful because a supply and just challenge, who updating set of the taking process approach that The a are make in are were a sure customers of elaborate We I'll stepwise we're

multiple We have suppliers --

Anthony Petrone

that could just --For in Maybe [indiscernible] PMT-OX you the there an wondering PMT-OX, the the outlook expectations on the quarter. I'm on the market if just one there. of opportunity Novartis has provide sizing size you out [indiscernible]. versus

Operator

still is you done, are over? Anthony or it

Anthony Petrone

I'll can Thank next just you CSL where in the have quarter? sit contribution may look hop over you, on Chris. years, queue. And And Do any as the update Thanks you then the lastly provide again. in we in of they mix? and couple

Christopher Simon

that me suppliers. our that ingredients. were specifically we had Anthony, pick which was have earlier, related challenges supply one Yes, point the for up in in making we multiple a let I is the And regard, of on quarter to

timing as aggregate. second levels of back. any we've that just well. the volume second in that but in of that It's rely of One largest fourth It issue our quarter, it, the don't estimate levels inventory customer in of we year, them require that, to way included worked the through but a some more We've collection the had a probably to the measures way a happens real us did issue. will come half our put versus down it inventory set and we place on. so the We quarter be of our believe down lost suppliers the taking in

of as growth and terms our in customers other of to portfolio proportionate CSL, they're all In this gap to doing our are their was customers. close our their part

Operator

CJS Thank much. of And of you so Solow line your Securities. the comes Lawrence question from next

Unknown Analyst

try morning. this any Larry to ask for Ledaga Novartis And I'll not questions.

your of margin your addition I did the stuff us you're some just there? like Just sounds and If to as the ones through of of a margins, through the leverage for that end-of-life and can gap high talked look the the second combination reason goals you guidance. related in the the XXs help the you that then getting quick job seeing the long-term out of the bridge to half about acquisitions a implied margins. going X versus first in I good pretty you decline to half it guess

James D'Arecca

It's sure. James. Yes. Yes,

right, And quickly you're I to longer-term has revenues us leverage, So just is play say. our for income really the -- that our would a simple than driven would is part is forward a our it's that operating [indiscernible]. overall, is of the more grow towards And profitable say, revenue. really, the And products. future. by certainly, favorable hospital OpSens I in moving One more mix

part of The margins on volumes is it's focus program improving our cost and or goods operational we continued second the that -- whether through gross the our excellence have. through margins

have of XXs, a too, We target low XXs. high there,

â€“ So one it XXs. will that you we is to Those as that help help we forward. brought really through. as is certainly, will certainly gets drive X glad one. contribute things move about will higher move the We're the yes, combined forward. And excited third that OpSens. what up And the I'm pushed being we're you And that -- volumes

Unknown Analyst

just you revised year? working then But and related timing a as obviously, a versus And to of to push nice it And conservatism is of guide, part like lower your next your just flow new It the at of on capital. sounds looking increase expenses through much CapEx can little cash out kind there. free that there guidance? was go bit how

James D'Arecca

Yes. Sure.

flow, million almost $XX for -- in for cash, quarter. overall half flow cash $XX had the So in $XX the million year. the We free strong of cash first million very

working sources capital benefits. the by an overestimate cash would CapEx and much of CapEx, on I was, some combined and so too having on of understated guidance then an effect say, initial underestimate Our

update our our And that disclosures. so with here opportunity to -- correct and in we that the took

real anything that I we'll the the us was us term, think I feel CapEx generation of like really going -- say flow capital a remain underlying consistent. the that business in more wouldn't And changing our utilize terms Longer there's cash for should plan. forward. of for I is strength fairly

Operator

you much. Thank so

question go next from of Raymond ahead. the James. of line comes Your Cooper Andrew Please

Andrew Cooper

little just was the little a growth like first, but give slower what revenue markets were that the like better. of sort mentioned on that on basis, could out meant? typical look Because you little dollar disruption bit and maybe seasonality, you the hoping more it supply you're a does a a optically, plasma calling context end than Maybe bit from

on that just bridge help numbers us you So if a be the basis, could wonderful. gap would

Christopher Simon

that temporal. what say is this a just up is beyond. do of was part us I which what were it of the we some from had gives be would about is confidence. and moment, we our don't Andrew, problem expect notice response very in situational advanced This able second to other We production in or to our ramp suppliers, and this very half what is on

you guidance So our in revenue confidence for raise had to that see specifically. guidance why we plasma and

In typically something terms levels inventory inventory take our were, of XX to we were required of we where product. We hold that down. north days for

capacity are serve. In the customers don't we that storage field, the We below collection that X,XXX our now. have sites real across

focus, a focus to of So we've then got cut a In those have micro to X they this. typically on how that reductions into don't X stock weeks. many as a result into we make cases, turn we've that sure in And out. half

then confidence of sit own. the the and the in make growing then of half the and year. At rebuild the our is day, we meet use we'll we bowl we quarters, If second forecasted reprieve every and most So I year robust that ship here we're this third with first demand to quarter tell the it. of to our our from customers inventories get process always of over the fourth demand in any the that can in quarter, end will we you

guidance, in of half. up we have we can your question effect the the is lot for answer net -- to a our make reflected second effect directly confidence that So and the it in

Andrew Cooper

with sticking just Maybe plasma. more, one

share on to any least you there's go some eventually rollout prepared device seeing at seeing Wondering anything you're take the you're remarks Plus software or that as points mentioned market if sort side You on to talking with there. potential on well, Express now collection to of or especially gains the in hearing the full share, anything side. report anything and a

competitive anything wondering if changing that landscape perspective. from in Just the

Christopher Simon

Yes.

remarks fully prepared response, absolutely quiet very NexSys competitive communication, to industry to standard. be a the advantage. system. that I -- on as superior bidirectional our bullish We're continue the collection, the right, in the convinced, donor integrated We is the said well-functioning

for good And the quite meaningful we tailwind that. a that's so software in great. were us feel The about upgrade quarter, and

opposite. In devices. done inventory very with terms through we've in with slowed of place drop regards, demand that go you and some placements, actually, in getting it's any we're when fleet more pace existing device becoming our optimization, the of the the not customers, the because actual on focused of our But

So we've got active programs there.

metric device So count is this. the not on right

continue and rates to churn this which up the is go growth look the continue in us for for real to quarter. at driver We particularly,

with of customers field Persona the our the rest driving growth. Our meaningfully outperformed

So per kind collecting think their donation, And actually and ability that's recruit only retain a they're that. of the I they of donors. front to are not but more edge pushing reflection of

And So disruption. and system. that's We've in the sure speed in the is handful working quite up, release outstanding. limited a make market the with regards has it bullish again, customers The there's on purposely to been to market. with market. the feedback the done no to Express But a Plus date of

Operator

Needham question Matson Mike comes & next Your of from of Company. the line

Your line is open. now

Michael Matson

OpSens the on deal. a Just few

to kind excited guess, their going sales And SavvyWire-TAVR I they first, -- assume or then about opportunity have opportunity? SFR OptoWire of with So you of force. some you the are SFR are sort of more traditional sort I

single kind with group have integrated I you'd both selling sales closure a existing force product guess and that So your base would lines? of get

Christopher Simon

start, to invite comment. and I'll I'll Stu

are interesting about that deal, the an in have shareholder to recognize we're period the process where optimistic very soliciting they approval. of -- in are We

respectful just we'll be that guarded be because say somewhat in what will process. So of we we

are super enthusiastic parts. the very, interventional in X broadly is We do and exciting, early the support for SavvyWire We're and and can very that assets, very OptoMonitor TAVR actually in innings real in SavvyWire. we the define terms interesting space the of OptoWire about think more piece, great or and in Guidewire, second potential there. sure. what In it we of right,

So we lean to intend in.

and when case, OEM to that up is make about in But can their which piece, specifically We're Let's We OEM it's in. to really base talking underlying that not we're typically talk the chip companies about we're attractive everything you're your secure There's much OEM like not And it portfolio. customer those where that core them market. upon third to they a blue look economics do lean that their an can. the the make business, be. help more we look like excited of to relationships business, this which manufacturer. going build a traditional business product think

too. Stu? So basis on they've a aspects think achieve all what exciting to and add to we OpSens real stand-alone been and candidly, us, can we of leverage are able X

Stewart Strong

us having question. Yes, Vascular add already Stewart. the this what I we're cardiology, that it with success the Mike, portfolio. portfolio for expands really would does is interventional the just complements thanks that for our in that It's Closure really

top that heard TAVR So TAVR, like there. about before. talk that synergies concentrated over the XX% all centers drive there's It's where point us And the call almost really about of procedures. it top XXX all in nice also you've of procedures some EP XX% We've XXX targeted drives equally U.S. across procedures.

So as there's reach but sort the the and to well. really of also there we that synergies have sales that leverage of we they gives and OpSens acquisition the team us have, complement force relevance nice also think that

we're So and that growth to have really forward about underscore in it. and to excited we're this to looking the really commitment starts we the space it that

Michael Matson

Plasma for in then technology? you getting with you Plus, the are that can Express business remind price a me, just just premium And

Christopher Simon

in benefit specific the haven't to there. and an course, innovation. innovation. translate not but donor aspire premium have there. we're or we general, compete centers. out a a expect a living and of attributes, economic So We technology. think into say specific out we, for would manifests haven't is on Plus that of benefit, I we it cases, Mike, quite would our all we And expectations I features specifically, but any this broken specific What to satisfaction that, in that part broken But certainly Express we expectations superior for

Operator

the from Petusky line comes ahead. question Michael Barrington Research. next your of of go And Please much. so you Thank

Michael Petusky

second hospital in part a A can material in acceleration questions. of of with half? Vascular the the the is is, in guess, in I terms acceleration expected guess, a of of anything Europe? pickup sort you Closure you first, I of first, And couple in there the share expect traction starting terms

Christopher Simon

Stu let Mike. that take I'll directly. Thanks,

Stewart Strong

is our going continue launched, remarks, in end at Mike, we're would to first also Japan On X in of those just growth in had starting September. we're see prepared that Germany Most I cases We in thanks did got I Japan. out And to the Japan. material say, my we We've for reimbursement see said we U.S. to starting board and of accounts of in a September come the going that the XX, coming in on to question. launched as started the countries. we've and launch Italy,

we're But for we're going from material in that's disproportionately driven the the really growth come by excited U.S. Japan. that I to still So say is the doing portfolio would year, about what

Michael Petusky

termed just commitment fiscal had order think ago, guess of And so CSL the quarters it I Or guys is we is hey, million of in I way you from switching And of think my you a And above is $XXX roughly then couple then commitment any 'XX. shifted? for a I a case? I'm Plasma. is, the still a question said, over we meaningful for wondering, couple quarters that minimum think to fiscal you Chris, expectation have that ago, 'XX. slightly

Christopher Simon

demand. their is additional our collaboratively accelerated recollection your and of meet Mike, CSL Yes, And with been right. there's to customers no exactly We're there. working developments all

to this guide when we'll participating that about a have So year. more communicated fiscal that in as we before, And growth for substantial again we're as we contribution say I 'XX. experiencing we said earlier, in 'XX May. the they're fully in But expect, our

Michael Petusky

multiple clarify on guys Great. to products I [indiscernible] going just I transition, want do the expect in Okay. Center of the you guess then Blood rationalization And and and it's to the we current this? terms but about contribution? in mean actually net how you guys at do are revenue the of revenue much I take any place sort of loss talking end of years, expect -- understand just I over --

Christopher Simon

interesting us, this micro by for Yes, dynamic SKU it's SKU. look we've taken right? Because at a an code-by-code

are influence, IVDR. products the as would burden that, by a of and we these for other prepared arisen CE some in remarks, approval the that face recall, We result as that increased the said have regulatory challenges definitely or via product MDR Mark

kind we've best those specific taking codes. mix a and of path of the the said, all for and put us So in hard that look is end life, to

So portion revenue our modest of negative longer year Center our which It's you Blood on a term, the what's as contribution. the the effect know. will overall portfolio, the We this guidance. But longer of on any portion not term, effect overall not from dampening there a expect that portfolio. in businesses, be the is of smallest beyond do X

actual Our margins.

In products. fact, a that result these increase guide margin as on more we percent 'XX. for our will But delisting when of

Operator

this and a are Thank Everyone, And today's much. so you there conference participating, This further concludes time. for no questions now call. day. great have may Thank disconnect. you at you you

Haemonetics (HAE) 2 Nov 232024 Q2 Earnings call transcript