Mauna Kea Technologies provides business update
As a result of the disruption from the global crisis caused by the coronavirus, or COVID-19, the company is changing its date for publication of full year 2019 financial results to Tuesday, April 28, 2020 after markets close at 5:45 PM CET (Paris time). The company intends to provide an update on sales results for the first quarter of 2020 as part of this publication as well. The Mauna Kea Technologies management team will hold an English-language conference call at 6:00 PM CET, Paris time (1:00 PM EDT, New York time), to discuss full year 2019 financial results, first quarter of 2020 sales results and will address investor and analyst questions.
“The long-term growth opportunity for Mauna Kea remains compelling,” stated Robert L. Gershon, Chief Executive Officer of Mauna Kea Technologies. “That said, our near-term outlook has been challenged by the global crisis caused by the coronavirus, or COVID-19, during the first quarter of 2020. We are currently taking precautions recommended by national and local government agencies to protect the health and safety of our employees and their families, our customers, patients, and communities. To ensure the health and safety of our employees, we have implemented a remote-work policy to enable flexibility given regional travel restrictions, local ordinances, and other containment programs. Across our entire business worldwide, our teams are fully prepared to conduct all business-related engagements virtually and are embracing new and creative ways to continue to engage and support our customers to help achieve strong clinical outcomes. We have seen a slowdown in procedure trends as a result of the growing number of health authorities either recommending, or enforcing procedure deferrals. System adoption has also has been impacted by the overall slowdown in capital equipment purchases as the healthcare system focuses most available resources on treating infected patients. We expect these trends to have more significant impact on our second quarter financial results. Given the rapidly evolving dynamics in our primary commercial markets around the world, we are unable to predict when the procedure and system adoption trends will improve. We are navigating the unprecedented changes in our target market and are focused on ensuring that the organization is well-positioned to drive growth post COVID-19 when normal case loads and new system demand resumes in the U.S., APAC and EMEA/ROW regions. In the interim, the dedicated teams at Mauna Kea Technologies who support Cellvizio® are available to provide clinical case support and ensure uninterrupted workflow either in person or remotely.”