Mixed corporate performance amid the global health crisis
ICU is a leading pure-play infusion therapy company that produces infusion consumables, infusion systems and intravenous (IV) solutions. Sales from these three business segments were uniquely affected by the COVID-19 (coronavirus) pandemic as nonessential healthcare services were largely suspended. More specifically, sales of infusion consumables declined in 2020 due to lower hospital census during the coronavirus pandemic, while sales of from the company’s infusion systems business actually benefited from an increase in demand for large volume pumps, which are integral to treat patients amid the health crisis. IV solutions sales have been adversely affected by lower contract manufacturing sales to Pfizer.
COVID|ESG|Structural|M&AIn response to volatile demand in the wake of the first COVID-19 surge, the company undertook a comprehensive cost reduction program, aimed at shoring up labor and supply costs.
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