Boston Scientific Corp releases quarterly results, says elective surgery recover in July
US: Medical device maker Boston Scientific Corp on Wednesday posted a surprise adjusted quarterly profit and said demand for elective procedures picked up pace in July following an easing of coronavirus-driven restrictions.
The company's shares rose 3.8% to $39.66 in early trade. The stock had declined 15.4% this year till Tuesday's close as Boston Scientific, like its peers, had warned of a sharp hit from the pandemic in April.
"We've seen a very nice, consistent recovery with the sequential improvement," CEO Michael Mahoney said in a post earnings call.
The company said it was seeing a healthy mix of both rescheduled and new patient procedures.
It appears that the hospital systems are doing a much better job of a parallel path in managing COVID-19 patients and doing important elective procedures that patients need, Boston Scientific added.
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