Medtronic's Manufacturing Partner Acutus Medical Exits Electrophysiology Mapping, Ablation Businesses
Portfolio Pulse from Vandana Singh
Acutus Medical Inc (AFIB) is restructuring to become a contract manufacturing business, winding down its electrophysiology mapping and ablation business. The company will support Medtronic's (MDT) left-heart access products manufacturing and distribution. The restructuring will reduce the workforce by 65% and is expected to be completed by Q1 2024. Acutus reported a Q3 EPS loss of $(0.52), beating the consensus of $(0.61), and Q3 sales of $5.24 million, up 44% Y/Y.
November 09, 2023 | 2:17 pm
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POSITIVE IMPACT
Acutus Medical is restructuring to focus on contract manufacturing, supporting Medtronic's left-heart access products. The company beat Q3 EPS and sales consensus.
The company's decision to restructure and focus on contract manufacturing could lead to a more stable and predictable revenue stream. The beat on Q3 EPS and sales consensus is a positive signal to investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Medtronic will be supported by Acutus Medical in the manufacturing and distribution of its left-heart access products.
Medtronic's partnership with Acutus Medical for the manufacturing and distribution of its left-heart access products could potentially streamline its operations and reduce costs.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 70