Haemonetics Corporation (HAE): BCG Matrix [Dec-2025 Updated]

You're looking at Haemonetics Corporation (HAE) right now, and honestly, the picture is a classic portfolio challenge: balancing a massive cash engine against the need to fund tomorrow's growth. As of late 2025, we see their Hospital Segment lighting up with 30.9% revenue growth, clearly the future Star, while the Plasma business-the reliable Cash Cow bringing in 39.3% of revenue-is temporarily navigating a divestiture-related dip. Still, you've got the shrinking Blood Center unit acting as a Dog, and big R&D bets, up to 8-9% of revenue, being poured into unproven Question Marks. Let's break down exactly where HAE is putting its chips to maintain that momentum.

Background of Haemonetics Corporation (HAE)

You're looking to map out where Haemonetics Corporation (HAE) stands strategically, so let's start with the basics of what they do. Haemonetics Corporation is a global healthcare company that focuses on delivering innovative medical products and solutions across several critical areas. They aim to improve patient care while also working to lower the overall cost of healthcare delivery, which is a key focus for providers right now. Honestly, their business is built around three main segments: plasma, blood center, and hospital.

The company has been making strategic moves to focus its resources, emphasizing the plasma and hospital segments because they see more robust growth potential there. Still, the blood center segment, while important, tends to face tighter constraints due to higher competition in that space. Revenue generation is heavily tied to the demand for their disposable blood component collection and processing sets, along with the necessary equipment that makes those disposables work right.

Looking at the numbers closest to late 2025, Haemonetics Corporation posted an annual revenue of approximately $1.36 billion for the fiscal year ending March 29, 2025, which represented a 3.95% growth rate over the prior year. You should note that they made some portfolio adjustments, like divesting their Whole Blood product line in January 2025. For instance, their first quarter of fiscal 2025 revenue hit $336.2 million, showing an 8% year-over-year jump, though their gross margin was 52.0% then. More recently, for the second quarter of fiscal 2026, revenue came in at $327.32 million, with an earnings per share (EPS) of $1.27.

The company has been active on the M&A front; for example, they completed the acquisition of Attune Medical during fiscal year 2025 for a purchase price including contingent consideration valued initially at $25.3 million. As of the end of October 2025, the stock was trading around $50.01, putting the market capitalization near $2.41 billion. CEO Chris Simon has been talking about driving margin expansion and gaining share in Plasma, while taking steps to strengthen commercial execution in Vascular Closure. Finance: draft the Q3 2025 cash flow projection by Wednesday.

Haemonetics Corporation (HAE) - BCG Matrix: Stars

You're analyzing Haemonetics Corporation (HAE) portfolio, and the 'Stars' quadrant is where the future growth engine is clearly visible. These are the business units or products that have successfully captured significant market share in markets that are still expanding rapidly. For Haemonetics Corporation, this category is heavily weighted toward the Hospital segment and specific high-growth technologies within it.

The Hospital Segment is definitely the largest and fastest-growing part of the business, showing a remarkable 30.9% revenue growth in Q2 FY2025. This level of expansion signals strong product adoption and market leadership, which is the hallmark of a Star. These units consume significant cash to fuel this growth-think heavy investment in sales infrastructure, R&D for next-generation features, and placement of capital equipment-but the payoff is market dominance.

Within that segment, Hemostasis Management, particularly the TEG (ThromboElastography) platform, stands out as a high-share niche leader. In the U.S. market, TEG sales grew an impressive 35% in Q2 FY2025. That's not just growth; that's market-taking. Also, Interventional Technologies is actively expanding its footprint, which you can see tied directly to the FY2025 launch of the VASCADE MVP XL, a vascular closure device designed for larger sheath sizes. This product is key to capturing share in that specific procedural space.

Here's a quick look at the performance metrics supporting the Star classification for these key franchises as of the Q2 FY2025 reporting period:

These high-growth franchises are the future of Haemonetics Corporation, and the strategy here is clear: invest heavily to maintain this momentum and solidify market leadership. If they can sustain this success until the high-growth market matures, they are definitely on the path to becoming Cash Cows. A key tenet of the Boston Consulting Group strategy for Haemonetics Corporation is to continue pouring resources into these Stars.

The operational focus required to keep these Stars shining bright includes:

• Sustaining high capital equipment placement rates.
• Driving device utilization for recurring revenue streams.
• Aggressively supporting new product introductions like the VASCADE MVP XL.
• Ensuring supply chain resilience to meet demand spikes.

To be fair, the recent Q2 FY2026 results (announced November 2025) show the overall revenue decline of 5.3% year-over-year to $327 million, which highlights the cash consumption and market headwinds outside of the core growth areas. Still, the underlying strength in the Hospital segment, with its adjusted operating margin improving to 26.7%, shows the profitability potential when these Stars perform. Finance: draft 13-week cash view by Friday to ensure adequate funding for these growth investments.

Haemonetics Corporation (HAE) - BCG Matrix: Cash Cows

You're analyzing the core engine of Haemonetics Corporation (HAE), and the Plasma Segment definitely fits the Cash Cow profile. This segment was the core revenue engine, contributing 39.3% of the total $1,360.8 million in reported fiscal year 2025 revenue. That kind of consistent, high-percentage contribution from a mature market segment is exactly what you look for in a cash cow.

The strength here is underpinned by the established global industry standard, the NexSys PCS. This system, featuring Persona Technology, helps customers achieve an average increase of 9% to 12% in plasma volume per donation. Also, the NexSys PCS with YES Technology can add an average of 18-26 mL per donation, directly translating to higher throughput and lower cost per liter for your customers. You see this market leadership reflected in the fact that over 140 plasma centers have converted to the NexSys PCS platform.

The recurring revenue component is key to the cash generation. While specific FY2025 numbers aren't explicitly broken down for consumables, the business model relies heavily on the installed base, which historically has been associated with a recurring revenue stream of approximately 85%. This high percentage of recurring revenue from consumables and service contracts provides the predictable cash flow that defines a Cash Cow, allowing Haemonetics Corporation to fund other parts of its portfolio.

It's important to note that the current reported revenue decline, such as the 9.1% drop reported in Q3 FY2025 for the Plasma segment, is largely attributable to the planned divestiture of the Whole Blood product line, which closed in January 2025, and transitional disposable sales to CSL Plasma. When you look past these one-time items, the core business strength is clear; for instance, the organic revenue excluding CSL disposable sales showed an increase of 12.9% in that same quarter. This indicates the underlying business is healthy and milking gains effectively, which is what you want from your cash cows.

• Plasma Segment Revenue Contribution (FY2025): 39.3%
• FY2025 Total Revenue: $1,360.8 million
• Q3 FY2025 Plasma Revenue Decline (Reported): -9.1% (Attributed to divestiture)
• Organic ex-CSL Revenue Growth (Q3 FY2025): 12.9%
• FY2025 Adjusted Operating Margin Guidance: 26 - 27%
• FY2025 Free Cash Flow Guidance: $170M - $210M

Haemonetics Corporation (HAE) - BCG Matrix: Dogs

You're looking at the segment of Haemonetics Corporation (HAE) that requires the most scrutiny right now, the Dogs quadrant. These are the units stuck in a low-growth market with a small slice of that market, meaning they tie up capital without offering much return.

The Blood Center Segment is definitely in this category for Haemonetics Corporation. As of the fiscal year 2025 reporting, this business unit was the smallest component of the overall revenue picture. It accounted for only 19.2% of the total FY2025 net revenues, which were reported at $1,360.8 million.

The financial trajectory here has been consistently negative, signaling a lack of momentum. For the full fiscal year 2025, the segment experienced a reported revenue decrease of 7.8%, which the company noted was largely due to the divestiture of its Whole Blood business in the fourth quarter of fiscal 2025. Looking at the initial guidance for that year, Haemonetics Corporation had set its FY2025 guidance for Blood Center revenue growth in the range of negative 5% to negative 7%.

This segment operates in a market that is inherently more constrained. Honestly, the company itself has signaled this by emphasizing its Plasma and Hospital segments due to their robust growth potential, while noting the Blood Center segment is constrained by higher competition. This environment means expensive turn-around plans are unlikely to yield significant results, so management's focus on efficiency makes sense.

Here are the key financial and strategic data points that place this segment in the Dogs quadrant:

• Blood Center Segment Revenue Share (FY2025): 19.2% of total revenue.
• FY2025 Revenue Decline (Actual): 7.8% decrease.
• FY2025 Revenue Growth Guidance (Initial): Negative 5% to negative 7%.
• Management Focus: Cost management and portfolio rationalization.

To give you a clearer picture of the segment's relative size against the rest of Haemonetics Corporation's operations in FY2025:

The strategy here should definitely be about minimizing cash consumption. When you see a segment with a small revenue base, declining performance, and acknowledged competitive headwinds, the goal shifts from growth to maximizing cash generation from the remaining assets or executing a clean exit. The recent divestiture of the Whole Blood product line is a concrete example of this portfolio rationalization in action.

Haemonetics Corporation (HAE) - BCG Matrix: Question Marks

The Question Marks quadrant for Haemonetics Corporation (HAE) is characterized by new ventures operating in high-growth markets where the company currently holds a low market share. These units demand significant cash investment to capture market position but have an uncertain return profile.

New Interventional Acquisitions, like the Attune Medical business unit, represent a prime example of a Question Mark. Haemonetics completed this acquisition with an upfront cash payment of $160 million, plus additional contingent consideration based on future sales growth. For fiscal year 2025, Haemonetics expected this venture to contribute revenue between $30 million and $35 million. This product, the ensoETM device, is positioned in the electrophysiology market, which is a high-growth area within the broader Hospital segment.

Digital Health and AI-driven medical technology research is another key investment area fitting this profile. These initiatives are nascent but are seen as critical for future growth, requiring substantial capital to scale and establish market share against established or emerging competitors. The company is allocating significant R&D to these areas, with R&D projected to reach 8-9% of net revenue in FY2025.

These Question Marks consume cash to fund the necessary commercial build-out and market penetration efforts. The company's overall financial position in FY2025 shows the scale of investment required:

The strategy for these units is clear: invest heavily to quickly convert them into Stars or divest if the trajectory is not promising. The cash burn is a necessary cost of entry into potentially high-return, high-growth segments.

• The Attune Medical acquisition was financed partly by a $150 million draw on the revolving credit facility.
• The R&D increase in FY2025 was 15.6% compared to the prior year, driven by headcount from acquisitions.
• The company is actively pursuing further product pipeline expansion.
• The goal is to accelerate the growth and impact of the Interventional Technologies business.