|Bid||85.96 x 0|
|Ask||85.98 x 0|
|Day's Range||81.16 - 86.08|
|52 Week Range||74.74 - 142.94|
|Beta (3Y Monthly)||1.33|
|PE Ratio (TTM)||26.36|
|Forward Dividend & Yield||1.50 (1.89%)|
|1y Target Est||88.22|
Sweden's Getinge (GETIb.ST) said on Thursday it had agreed to sell its troubled surgical mesh business that saw the medical equipment maker swing to a loss in the third quarter due to provisions for lawsuits in the United States and Canada. Getinge, which makes products for surgery, intensive care and infection control, said it made an operating loss of 1.7 billion crowns ($194 million), against a year-ago 304 million profit, roughly matching analysts' expectations. Getinge said it had agreed to sell the surgical mesh unit with no material impact on its financials.
A maker of equipment for hospitals, Getinge faces about 900 lawsuits as patients claim they faced complications and injuries after receiving the polypropylene mesh sold by its subsidiary Atrium Medical Corp. in surgical procedures such as hernia repairs, the company said in a statement late Sunday. “The provision today materially exceeded our expectations,” Michael Jungling, an analyst at Morgan Stanley, said in a note to clients. The provision should cover all current and future costs related to the Atrium Medical mesh claims, Chief Executive Officer Mattias Perjos and Chief Financial Officer Lars Sandstrom said on a conference call on Monday.
Manufacturers of surgical mesh products have faced hundreds of lawsuits in the United States in recent years. Getinge said the claims were being vigorously defended and there had been no adverse verdicts against Atrium Medical, which manufactures the implants and was acquired by Getinge in 2011. Atrium Medical is evaluating the future of the surgical mesh business, the Swedish medical technology company said.
Swedish medical technology group Getinge said on Sunday it would book a 1.8 billion crown ($200.9 million) provision related to surgical mesh product liability claims filed in the United States and Canada against its Atrium business. Manufacturers of surgical mesh products have faced hundreds of lawsuits in the United States in recent years. Getinge said the claims were being vigorously defended and there had been no adverse verdicts against Atrium Medical, which manufactures the implants and was acquired by Getinge in 2011.
GOTHENBURG, Sweden , Oct. 14, 2018 /PRNewswire/ -- Getinge makes a provision of SEK 1.8 billion for expected costs associated with Atrium Medical Corporation surgical mesh product liability claims filed ...
European shares slid on Wednesday as worries over a possible trade war dented sentiment and investors awaited the conclusion of a U.S. Federal Reserve meeting for signals on the pace of expected interest rate rises. The pan-European STOXX 600 index fell 0.2 percent, as financials and industrials retreated, although it ended off lows, helped by strength among commodity stocks and a positive turn on Wall Street.