Smith & Nephew plc best summed up the mood among medtechs with a message that would apply to companies serving COVID-affected health care markets, no matter what branch of industry they work in. Wrapping up the company’s 2020 financial accounts, CEO Roland Diggelmann said: “Our first priority for 2021 is to return to top-line growth and recapture the momentum we were building prior to COVID-19.” For him, improving the financial performance through operating leverage was paramount.
And with good reason. With a non-COVID care portfolio of orthopedic recon, sports medicine and ENT businesses, Smith & Nephew was ill-suited to meeting the pandemic’s emergency health care needs
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