A British medical device manufacturer announced Tuesday it is boosting its medium-term revenue growth projections after reporting strong financial performance driven by an improved product lineup and strategic business changes.
Convatec, which specializes in medical products including wound care supplies, catheters, and drug delivery devices, saw its adjusted operating profits climb more than 12% annually, reaching $544 million compared to the previous year’s $485 million.
The company has transformed its business model by focusing exclusively on chronic care products, streamlining operations and introducing innovative items like advanced wound dressings. This strategic shift has included expanding their presence across North American and European markets.
Looking ahead, Convatec has revised its medium-term organic revenue growth expectations upward to a range of 6% to 8%, an increase from the previously projected 5% to 7%. The company maintains its forecast for organic sales growth of 5% to 7% for fiscal 2026, excluding revenue from its InnovaMatrix skin-graft product.
Company officials indicated they expect the first-half adjusted operating margin to show modest improvement compared to the same period last year. However, they cautioned that reduced sales from the InnovaMatrix product line and additional tariff expenses may create some headwinds for overall performance.
The positive financial results were supported by consistent demand for the company’s chronic care product portfolio and successful launches of new medical devices throughout the year.
