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Economic Downturn Hits Hospital Supply And Medical Device Business

by Editor

Cardinal Health, citing reduced demand for equipment capital budgets in hospitals, has reduced their earnings outlook for 2009.

David Schlotterbeck, CEO of Clinical and Medical Products said, “With the delay in hospital capital spending, we expect softness in our capital equipment sales to continue in the second half of the fiscal year. It is important to note that more than 40 percent of our Clinical and Medical Products business comes from the sale of disposable products and remains stable. There are also segments of our capital equipment business less affected, and therefore we expect Clinical and Medical Products segment results for the fiscal year to be flat or better than last fiscal year.”

Cardinal Press Release:

Stock is expected to trade down when the market opens.

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