Welcome to our dedicated page for Getinge news (Ticker: GNGBY), a resource for investors and traders seeking the latest updates and insights on Getinge stock.
News for Getinge AB UNSP/ADR (GNGBY) focuses on the company’s developments in medical technology, surgical and medical instruments, and life science solutions. Getinge’s press releases highlight its role as a global provider of products and solutions for intensive care, cardiovascular procedures, operating rooms, sterile reprocessing and life science, with products sold in more than 135 countries.
Investors and healthcare professionals following GNGBY can expect news on financial performance, such as year-end and interim reports that discuss order intake, net sales, margins and cash flow. These updates often describe trends in demand for ventilators, ECMO-related therapies, sterile transfer and other critical care and surgical workflow products, as well as the impact of supply chain conditions and structural measures aimed at productivity and cost efficiency.
Another major theme in Getinge’s news is strategic acquisitions and portfolio expansion. The company has reported acquisitions of Paragonix Technologies in organ transport and preservation, Healthmark Industries in instrument care and infection control consumables, High Purity New England in single-use bioprocessing solutions and Talis Clinical in High Acuity cloud-based software. Such announcements provide insight into how Getinge is broadening its presence in transplant care, infection prevention, biopharma and digital high-acuity environments.
Regulatory and product milestones also feature in the news flow, including FDA premarket approval for the iCast covered stent system for iliac arterial occlusive disease and the launch of an Experience Center in New Jersey to showcase technologies for operating rooms, intensive care units, sterile processing and digital health. For anyone tracking GNGBY, this news stream offers context on how Getinge’s product areas, acquisitions and clinical milestones evolve over time.
Getinge's subsidiary, Atrium Medical Corporation, has reached a settlement agreement in the U.S. related to surgical mesh product liability, totaling SEK 600 million in provisions plus ongoing litigation costs. The agreement, part of a multidistrict litigation involving approximately 3,200 plaintiffs, is expected to finalize in the first half of 2022. While this settlement does not imply company wrongdoing, Getinge maintains its defense against unresolved claims. The existing provision of SEK 1.8 billion from 2018 will be impacted in Q4 2021 results.
Getinge reported a 21.8% increase in organic order intake for Q3 2021, although net sales declined by 20.1% year-over-year due to previous record ICU ventilator deliveries. Adjusted gross profit was SEK 3,334 M with a gross margin of 52.9%. The company successfully completed remediation measures under the FDA's Consent Decree at its Hechingen site, which allows for a renewed focus on growth initiatives. The underlying EBITA margin improved, reflecting enhanced productivity despite the impact of COVID-19.
On August 3, 2021, Getinge announced its membership in AdvaMed, the largest trade association for medical technology manufacturers. This membership aims to bolster Getinge's global commitment to innovation and quality in healthcare. Eric Honroth, President of North America, expresses the significance of this partnership in advancing healthcare technologies. AdvaMed's 400 members, including numerous industry leaders, focus on promoting high standards and patient access to medical innovations. Getinge's involvement is expected to enhance its influence in healthcare policy and technology development.
Getinge has introduced the Torin AI functionality in the U.S. to enhance surgical scheduling efficiency, responding to a survey revealing that 41% of hospitals face significant surgical backlogs, particularly in long-term care (60%) and outpatient settings (53%). The Torin software aims to optimize resource management, predict surgery times, and facilitate waitlist management, addressing a critical need post-COVID-19. With 56% of hospitals planning to hire more staff, the integration of advanced digital tools is essential for operational efficiency in surgical settings.
Getinge has announced a new social bond issuance of SEK 570 million aimed at enhancing the production capacity of life-saving medical technologies. The new bond, issued on June 3, 2021, was oversubscribed shortly after launch, reflecting strong investor interest. Funds will specifically support the manufacturing of extracorporeal life support (ECLS) products and BetaBags®, essential for drug production safety amid increasing demand due to the COVID-19 pandemic. This initiative underscores Getinge's commitment to sustainability and social benefits.
Getinge has secured US FDA clearance for several software updates for its Servo-u and Servo-n ventilators, enhancing functionality across all patient categories. The new features include Automatic Stepwise Recruitment maneuver and Heliox therapy, designed for personalized lung protection. Moreover, the Servo-u MR ventilator has been approved for MRI environments. These advancements, driven by the pandemic's impact on respiratory health, are set to be available to US markets by July 2021. This proactive approach underlines Getinge's commitment to innovation and patient care.
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Getinge's Neurally Adjusted Ventilatory Assist (NAVA) technology demonstrated significant clinical effectiveness in the NAVIATOR trial, reducing mechanical ventilation time for adult patients with acute respiratory failure by nearly 35%. Conducted across 14 centers, the trial involved 306 patients and highlighted improvements in health economics by potentially freeing up ICU resources. The study supports NAVA's routine use in intensive care settings. This advancement indicates continued growth potential for Getinge's innovative ventilation solutions in the market.
Getinge has made significant advancements in neonatal and adult ventilation technologies, particularly with the Neurally Adjusted Ventilatory Assist (NAVA) technique, which improves patient outcomes. A recent study indicates that NAVA reduces the time patients spend on ventilators and lowers extubation failure rates. Sabina Checketts, a neonatal doctor who survived premature birth, actively utilizes NAVA to enhance breathing for at-risk infants and supports its application in adult care.