Haemonetics Corporation 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 & 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.
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.
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 NUVA, National Vision Holdings, Inc EYE and ResMed Inc 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.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
NuVasive, Inc. (NUVA) : Free Stock Analysis Report
ResMed Inc. (RMD) : Free Stock Analysis Report
Haemonetics Corporation (HAE) : Free Stock Analysis Report
National Vision Holdings, Inc. (EYE) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research