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CFMS

Conformis

$0.62 /

-0.1349 (-17.87%)

07:46
03/23/20
03/23
07:46
03/23/20
07:46

Conformis CEO says core product areas being impacted by COVID-19

Conformis announced proactive steps it is taking and planning to mitigate the negative financial and operational impacts of the coronavirus pandemic. "Our core product areas of knee and hip surgery are being impacted in unprecedented ways by COVID-19," said Mark Augusti, President and Chief Executive Officer. "As the virus spreads around the world and our customers - the hospitals and their professionals who do incredible work - battle against the virus, demand for arthroplasty has dropped significantly. When combined with patients' desire to self-isolate, we have seen a significant reduction in elective surgeries, including an almost complete shutdown of elective arthroplasty in many major cities across Europe and the United States. We are working tirelessly to take care of our Conformis team, our customers, and our patients. The situation is changing by the day and there is still tremendous uncertainty, but we feel it is important to share an update on some of what we have seen to date and describe key actions we have taken to mitigate the impact of COVID-19. While at this time we cannot predict how long this crisis will last, we know that eventually it will end. And when it does, we aim to be prepared to serve our customers and patients as we have in the past. We have the expertise and what we believe is a unique and efficient delivery model for knee and hip arthroplasty. Because our delivery model does not rely on limited numbers of instrument sets like many of our competitors' models do, we also believe that this delivery model will be ideal for surgeons looking to work efficiently through the backlog of cases that will only build as the pandemic continues to delay elective surgeries."

CFMS Conformis
$0.62 /

-0.1349 (-17.87%)

08/01/19 BTIG
Conformis downgraded to Neutral from Buy at BTIG
08/01/19 BTIG
Conformis downgraded to Neutral from Buy at BTIG

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Syndicate
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  • 02
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Recommendations
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Earnings
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Reports Q4 revenue $19.7M…

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HC2 Holdings announces separation of Chairman and CEO roles » 17:46
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Recommendations
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$0.00 /

+ (+0.00%)

Jefferies analyst Julian…

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