Five things to know:
1. The salary cuts will be for at least an eight-week period, beginning in April.
2. Orthofix plans to use $100 million from its existing credit facility in April to maintain liquidity and has applied for accelerated payments from the Medicare program through the CARES Act.
3. First-quarter revenue is expected to be between $104 million and $105 million, based on preliminary projections.
4. Cash, cash equivalents and restricted cash was about $58 million as of March 31.
5. The company will provide further updates during its first-quarter earnings call on May 7.
More articles on devices:
Dr. Daniel Yoshor excited by new challenge at Penn Medicine
New York neurosurgeon recovers from COVID-19, volunteers at hospital ICU
Neurosurgeon, dentist’s 3D printed masks evolved production, being made worldwide: 5 details
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.