Medical device manufacturers are worried that the COVID-19 pandemic’s latest wave will make for a tougher recovery in elective procedures after Delta variant cases subside.
Top officials from Medtronic (NYSE:MDT), Johnson & Johnson (NYSE:JNJ), NuVasive (NASDAQ: NUVA) and Zimmer Biomet Holdings (NYSE:ZBH) warned investors that the highly contagious COVID-19 mutation filling U.S. hospitals with mostly unvaccinated patients is leaving a lasting mark on the healthcare workers who will be needed to catch up on routine procedures.
Johnson & Johnson’s hardest-hit business in the pandemic is its Medical Devices line, which faces another slowdown from elective procedures again delayed due to the Delta wave. But a looming shortage of hospital system workers is “a little bit of a new dynamic” facing the business, J&J CFO Joseph Wolk said Wednesday at the Morgan Stanley Global Healthcare Conference.
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