What Haemonetics Corporation told the SEC could break it.

For quality and cost reasons Haemonetics buys certain finished goods, components and raw materials from sole suppliers (each with its own complex supply chain) and relies on sole-source sterilization providers; it has experienced increased supply unpredictability, so a single-source disruption could halt delivery of its medical devices and disposables.

“for reasons of quality assurance or cost effectiveness, we purchase certain finished goods, components and raw materials from sole suppliers who have their own complex supply chains. We have experienced increased levels of unpredictability in the supply of certain raw materials and components used in the manufacturing of our products.”

Haemonetics has customer concentration: a single (unnamed) Plasma customer — a major plasma collector — accounted for ~13% of total net revenue in fiscal 2026, and its ten largest customers represented ~44% of net revenue; loss or reduced purchasing by that lead plasma customer would materially affect its Plasma segment.

“In fiscal 2026, our ten largest customers accounted for approximately 44% of our net revenues. In fiscal 2026, one Plasma customer accounted for approximately 13% of total net revenues.”

Haemonetics sources all of its apheresis equipment from Asia and buys components in Asia for U.S./Mexico manufacturing (with contract manufacturers in Japan, Singapore, Thailand, Indonesia and the Philippines), then ships finished goods worldwide — concentrating its component and equipment supply in Asia and exposing it to regional disruption, freight and trade risk.

“we purchase components in Asia for use in manufacturing in the U.S. and Mexico. We source all of our apheresis equipment from Asia and regularly ship finished goods from the U.S. and Mexico to the rest of the world.”

Tariffs are a realized cost driver for Haemonetics: increased operating expenses in fiscal 2026 were attributed in part to tariff impacts, reflecting its Asia-sourced components and Malaysia/Mexico manufacturing imported into the U.S.; further tariffs could raise its production costs and pressure margins.

“The increase in fiscal 2026 was primarily due to costs associated with the acquisition of Vivasure, impacts from tariffs and higher performance-based compensation costs.”