Amplitude Surgical: Impact of the COVID-19 Pandemic on Amplitude Surgical’s Activity
March 18, 2020
VALENCE, France–(BUSINESS WIRE)–Regulatory News:
Amplitude Surgical (Paris:AMPLI) (ISIN: FR0012789667, Ticker: AMPLI, eligible for PEA-PME plans) (“Amplitude” or the “Group”), French leader on the global surgical technology market for lower-limb orthopedics, announces the decisions taken by the Group Senior Management following the COVID-19 pandemic and the decisions of European governments.
In the last few days, the COVID-19 pandemic has led to the requisition of all operating rooms in France and other European countries, resulting in the postponement of all surgical procedures scheduled for the coming weeks. Other countries in Europe and globally have suspended air links and closed their land borders, making it impossible to deliver products.
As a result, Amplitude Surgical’s activity will be substantially reduced over the coming weeks, with the exception of some international subsidiaries operating in countries less affected at this time by COVID-19. The Group is already taking measures to control its costs and get through this period of uncertainty. The Group’s financial performance in the first half of its 2019-2020 fiscal year enables it to have a solid cash position that should enable it to cope with this situation.
During this period, the Group will also adopt all necessary measures to be ready for a resumption in activity when the sanitary situation allows operating rooms to reopen. The Group has seen buoyant levels of activity in recent weeks, and is confident that activity will rapidly take off again once the current sanitary crisis comes to an end, as surgical procedures have only been postponed, not cancelled.
Next press release
H1 2019-20 results, on Wednesday March 25, 2020, after market.
About Amplitude Surgical
Founded in 1997 in Valence, France, Amplitude Surgical is a leading French player on the global surgical technology market for lower-limb orthopedics. Amplitude Surgical develops and markets high-end products for orthopedic surgery covering the main disorders affecting the hip, knee and extremities, and notably foot and ankle surgery. Amplitude Surgical develops, in close collaboration with surgeons, numerous high value-added innovations in order to best meet the needs of patients, surgeons and healthcare facilities. A leading player in France, Amplitude Surgical is developing abroad through its subsidiaries and a network of exclusive distributors and agents distributing its products in more than 30 countries. Amplitude Surgical operates on the lower-limb market through the intermediary of its Novastep subsidiaries in France and the United States. At June 30, 2019, Amplitude Surgical had a workforce of 436 employees and recorded sales of c.103 million euros.
Contacts
Amplitude Surgical
Dimitri Borchtch
CFO
finances@amplitude-surgical.com
+33 (0)4 75 41 87 41
NewCap
Investor Relations
Théodora Xu
amplitude@newcap.eu
+33 (0)1 44 71 20 42
NewCap
Media Relations
Nicolas Merigeau
amplitude@newcap.eu
+33 (0)1 44 71 98 55
