Shares of Haemonetics surged 10.2% to $99.50 on Tuesday after the company disclosed it had signed a new U.S. supply agreement with CSL Plasma, the world's largest plasma collector. The deal marks a dramatic reversal: CSL walked away from Haemonetics in 2021, declining to renew their supply pact , a move that wiped out $117 million in annual revenue and cratered the stock 32% in a single session . Now CSL is coming back — but on very different terms.
The Reunion Has Real Limits Baked In. The new agreement allows CSL to use Haemonetics' next-generation plasma collection devices and buy related disposables in the U.S., but it is non-exclusive and contains no minimum purchase commitments . That means CSL can buy as little or as much as it wants, and can keep using rival equipment alongside Haemonetics'. Haemonetics expects CSL to transition only "a portion" of its U.S. centers, with the scope and timing still undetermined .
The Revenue Opportunity Is Enormous — If CSL Actually Converts. CSL Plasma operates close to 350 collection centers in the U.S. and Europe . Even a partial conversion of its U.S. network would meaningfully move the needle for a company whose entire Plasma segment generated $524 million in fiscal 2026 revenue — roughly 39% of the company's $1.33 billion total . For context, the original CSL departure stripped out $70–100 million annually . Recapturing even a fraction of that would reverse years of plasma revenue erosion.
Investors Are Flying Blind Until November. Haemonetics is not updating its fiscal 2027 guidance and will provide financial details only during its November earnings call . That leaves roughly three months of uncertainty over the deal's actual dollar impact. The stock's immediate $470 million jump in market cap (from a base of roughly $2.53 billion ) prices in considerable optimism for a contract with no guaranteed volumes.
The Bigger Picture: Validation of the Technology Pivot. Haemonetics recently received FDA clearance for its newest plasma collection system , the very technology now being supplied to CSL. Its remaining plasma business (serving Grifols, Takeda, Octapharma, and others) grew 20.2% organically in the most recent quarter . CSL's return suggests the upgraded platform is compelling enough to lure back a customer that spent years building its own alternative. But non-exclusivity means CSL retains full leverage to walk away again. Shareholders celebrating today should remember what happened last time.