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Coronavirus (COVID-19) Company Impact: Integra Lifesciences Holdings Corp.

Published: 05 January 2021 Code: GDHC031CI

Globaldata's report on the impact of COVID-19 impact on Integra Lifesciences Holdings Corp. includes detailed coverage on the sector analysis, COVID-19 impact, and company analysis.

The COVID-19 pandemic has impacted Integra's revenue. The company reported a decline of 2.3% in Q3 compared to 2019's reported revenue. The heavy impact in Europe and rapid rise of COVID-19 cases in the US have led to poor performance, compared to the previous year. The company has experienced a short-term uptick in critical care device sales but was significantly impacted due to its presence in products related to elective procedures.

The geographic diversification of Integra Lifesciences's business offers some resilience to the worst effects of the disease on consumer spending. Furthermore, North America and Europe both sat in the mid-range of revised GDP growth rates based upon GlobalData's predicted levels of GDP growth for 2020, adjusted for the COVID-19 crisis. This helped to protect Integra’s growth in the next financial year.

Comprehensive analysis of COVID-19 impact on Integra Lifesciences Holdings Corp.:

  • While the timelines for the spread of COVID-19 initially indicated some protection for Integra, the rapid increase in prevalence has meant that the company's US sales, as well as its European sales, were highly exposed to the effects of COVID-19, but resumption of elective procedures and easing of lockdown measures indicated some recovery. However, recent surges in case numbers may slow recovery
  • The APAC region, especially China, has been showing some initial indications of a return to normality from the crisis Japan and China are their fast-growing markets, with combined yearly revenue of nearly $100 million. The company can use its experience of the disease there to help inform its strategy in other markets as they pass through the various stages of the disease's development
  • Integra’s diversification across markets has provided some resilience to the outbreak. Some of its products have experienced a growth in sales, as they are helpful in fighting COVID-19
  • Integra’s manufacturing operations have restarted in China, following a shutdown due to the COVID-19 outbreak. This helped the company in mitigating supply chain issues
  • In response to the challenge, Integra has expanded its contingency plans to enable its manufacturing and distribution sites around the world to continue operating at levels required to meet demand while keeping employees safe

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