Monday, October 27, 2008

Brian Concannon named to lead Haemonetics

By Mass High Tech Staff

Haemonetics Corp. has named Brian Concannon to be president and CEO of the plasma management company, eventually replacing Brad Nutter who will serve as executive chairman of the board of directors, Haemonetics officials said. Concannon will also join the board of directors. The transition will be effective as of April 2009.

Concannon previously served as president of the patient division and president of global markets at Haemonetics since 2003. Prior to working for Haemonetics (NYSE:HAE), he held several positions at American Hospital Supply Corp., Baxter Healthcare Corp., Allegiance Healthcare and Cardinal Health Products and Services.

Concannon earned a bachelor of science degree in engineering from the U.S. Military Academy at West Point.

Nutter said the shift in positions is part of Haemonetics’ leadership succession plan.

The Braintree-based company announced in May that it entered into a multi-year supply contract with Octapharma AG, naming the Swiss company as its preferred provider of plasma collection technology in the United States. Under the agreement, Octapharma will use Haemonetics’ technology to separate plasma from donor blood at its U.S. plasma collection centers. The plasma provides proteins, including albumin, clotting factors and intravenous immunoglobulin, for use in drug development and for therapeutic purposes.

Haemonetics reported a profit of $52 million on revenue of $516.4 million for 2007.