May 6, 2020 / 8:48 AM / a month ago

BRIEF-Smith+Nephew Says Elective Surgery In China Now At Estimated 50-70% Of Typical Volumes

May 6 (Reuters) - Smith+Nephew:

* SMITH+NEPHEW SAYS LEVELS OF ELECTIVE SURGERY IN CHINA INCREASING FROM MARCH, NOW AT ESTIMATED 50-70% OF TYPICAL VOLUMES - CONF CALL

* SMITH+NEPHEW- CONTINUING TO EVALUATE EXTERNAL M&A OPPORTUNITIES, BUT EXPECT LOWER RATE OF DEAL ACTIVITY WHILE CURRENT UNCERTAINTY REMAINS - CONF CALL

* SMITH+NEPHEW - HELPING WITH WIDESPREAD NEED FOR PPE BY INCREASING CAPACITY IN FACILITIES TO SUPPLY FACE SHIELDS FOR INSTANCE - CONF CALL

* SMITH+NEPHEW-“WE’RE SEEING, OF COURSE, PENT-UP DEMAND IN PATIENTS NEEDING AND DEMANDING SURGERY, BUT... IT’S ABOUT PATIENTS’ CONFIDENCE IN RETURNING”

* SMITH+NEPHEW - EXPECT OVERALL PRICE PRESSURE TO INCREASE AS HOSPITALS & HEALTHCARE SYSTEMS “PUT CAPITAL EXPENDITURE ON BACKBURNER” FOR SURGICAL TECH

* SMITH+NEPHEW - NO MATERIAL PART OF THE $200 MILLION IN COST SAVINGS IS COMING FROM GOVERNMENT ASSISTANCE/SUBSIDIES - CONF CALL

* SMITH+NEPHEW - DON’T HAVE ANY EMPLOYEES IN THE U.K. AT THE MOMENT ON THE GOVERNMENT’S FURLOUGH SCHEME - CONF CALL Further company coverage:

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