Getinge Interim Report for January-March 2020: Intense Efforts to Help Hospitals in the COVID-19 Pandemic
GETINGE AB UNSP/ADR (GNGBY)
NASDAQ:AMEX Investor Relations:
getinge.com/int/about-us/investors
Company Research
Source: PR Newswire
GOTHENBURG, Sweden, April 22, 2020 /PRNewswire/ -- "The quarter was dominated by the COVID-19 pandemic and the huge need for advanced ventilators and ECMO therapy at intensive care units around the world. Our leading global positions in these fields contributed to a 47% organic order growth, says Mattias Perjos, President & CEO Getinge. "We expect to see continuing strong demand in both areas since demand is far outstripping supply". Consequently, Getinge announced at the start of April an increased production capacity of ventilators by 160% compared with 2019. Getinge expects the high delivery rate to continue into 2021 and subsequently gradually return to past levels. Getinge has also decided to make additional investments to successively increase production capacity for life supporting equipment, also known as extracorporeal membrane oxygenation (ECMO).At the same time as the order intake significantly increased in Acute Care Therapies, the order intake for the quarter declined in
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