Organogenesis Holdings Inc. Reports Preliminary Financial Results for Third Quarter 2020
CANTON, Mass., Oct. 14, 2020 (GLOBE NEWSWIRE) -- Organogenesis Holdings Inc. (Nasdaq: ORGO), a leading regenerative medicine company focused on the development, manufacture, and commercialization of product solutions for the Advanced Wound Care and Surgical & Sports Medicine markets, today reported preliminary financial results for the three months ended September 30, 2020.
Third Quarter 2020 Preliminary Financial Results Summary:
Updated Fiscal Year 2020 Financial Guidance:
For the twelve months ending December 31, 2020, the Company now expects:
Acqusition of CPN Biosciences:
On September 17, 2020, Organogenesis Holdings Inc. acquired CPN Biosciences.
“This strategic acquisition significantly enhances our ability to drive growth in the office channel,” said Gary S. Gillheeney, Sr., President and Chief Executive Officer of Organogenesis. “CPN’s physician office management solution and complementary first-in-line advanced wound care products further broaden Organogenesis’ physician offering and accelerates our office strategy.”
The acquisition of CPN Biosciences did not materially impact revenue for the three months ended September 30, 2020.
Third Quarter 2020 Earnings Conference Call:
Financial results for the third fiscal quarter of 2020 will be reported after the market closes on Monday, November 9, 2020. Management will host a conference call at 5:00 p.m. Eastern Time on November 9 to discuss the results of the quarter and provide a corporate update with a question and answer session. Those who would like to participate may dial 866-795-3142 (409-937-8908 for international callers) and provide access code 9668716. A live webcast of the call will also be provided on the investor relations section of the Company's website at investors.organogenesis.com.
For those unable to participate, a replay of the call will be available for two weeks at 855-859-2056 (404-537-3406 for international callers); access code 9668716. The webcast will be archived at investors.organogenesis.com.
About Organogenesis Holdings Inc.
Investor Inquiries: Westwicke Partners Mike Piccinino, CFA OrganoIR@westwicke.com 443-213-0500 Press and Media Inquiries: Organogenesis Marcus Girolamo MGirolamo@organo.com 817-688-4767