 |
|
 |
|
|
|
|
 |
 |
 |
|
HEMA provides outsourcing of comprehensive blood management services, including related services such as therapeutic apheresis and donor testing services, to hospitals and other healthcare institutions. It is the only publicly traded, for-profit company with an FDA Establishment license permitting the sale of blood products across state lines, as well as accreditation from the American Association of Blood Banks (AABB). Through its Blood Management Programs (BMPs), HEMA offers hospitals and other healthcare institutions the convenience and efficiency of in-house blood services without the associated financial and regulatory risks and burdens. In October of 1998, HEMA acquired privately held Coral Therapeutics, bringing HEMA additional experienced management, greater operating efficiency, and expanding the Company’s market presence from Southern California (where it provides blood products and services to over 80 hospitals) to additional markets in twelve states in the Northeast and South. HEMA is the only "pure play" in the blood services industry and is trading at less than half of annualized revenues. We believe that HEMA is in an excellent position to grow revenues and earnings from its current base of business and we are initiating coverage of HEMA with a BUY rating. We recommend purchase of HEMA by investors tolerant of the risks associated with micro-cap and small-cap equity investments.
SMALLCAPS RESEARCH
Initial Opinion (HTML) (05/18/99)