Join our daily newsletter At The Bell to receive exclusive market insights
- BTC Health (BTC) says its medical equipment business has spiked on the back of the Government announcing the return of elective surgeries
- BTC Health’s business stream, BTC Speciality Health, sells medical devices and consumables to public and private hospitals in Australia and New Zealand
- However, the company saw a drop off in demand throughout April, due to the cancellation of elective surgeries
- Back in April, the Australian Government banned category two and category three surgeries, the two lower elective surgery categories in Australia
- But as surgeries ramp back up, BTC has been working with hospitals to identify what they will need to operate during the staged increases
- BTC Health shares are unchanged at market open, trading for eight cents per share
BTC Health (BTC) says its medical equipment business has spiked on the back of the Government announcing the return of elective surgeries.
After the National Cabinet meeting on Friday, May 15, Prime Minister Scott Morrison announced that elective surgeries were to resume in the coming weeks.
BTC Health’s business stream, BTC Speciality Health, sells medical devices and consumables to public and private hospitals in Australia and New Zealand. Demand for the company’s products dipped significantly during April, following the cancellation of category two and category three surgeries by the Australian Government.
Category two surgeries are elective surgeries for conditions that require the patient to receive treatment within the next 90 days, and category three surgeries are for patients that require the surgery within the next year.
Hospitals are now working to recommence their elective surgeries, initially with half of normal surgeries resuming to maintain social distancing requirements and help hospitals ramp-up to full capacity.
The decision as to when staged increases will be implemented rests with each State and Territory Health Department.
BTC Speciality Health has, however, seen demand for products pick up during May, so the company is working with hospitals to identify what supplies will be needed throughout the staged increases.
BTC Health Chairman Richard Treagus said the company welcomed the announcement, as it provided a path forward for the company, along with hospitals and patients.
“As a business, we have used the recent period to review our plans, keep the business and team strong and well prepared, always on the presumption this would be a temporary hold-pattern,” he explained.
“We look forward to building momentum during the year as the environment improves and further allows” Richard stated.
BTC has also claimed it is well placed to meet demand, as there are currently no delays in dispatching product from its central warehouse to customers, nor is the company experiencing delays on orders from its wholesaler.
BTC Health shares are unchanged at market open, trading for eight cents per share at 10:34 am AEST.
