The company’s orthopedic revenues for its fiscal fourth quarter fell -35% as it endured an additional month of COVID-related impact in April compared to competitors.
The underlying fundamentals of the orthopedic industry remain unchanged due to COVID-19. However, we should prepare for significant alterations in the market landscape as well as the ways that we interact with colleagues and customers.
The company was able to offset deeper COVID-related declines on the strength of its advanced DBM portfolio and plans to pursue several alpha launches of new products in 2020.
Geographic factors and a highly elective portfolio exposed the company to a severe downturn due to COVID-19, with 1Q20 revenue down 20% and April revenues down 95%.