Feb 24 (Reuters) – Convatec lifted its medium-term organic revenue growth target on Tuesday, citing a strengthening medical product pipeline, after the British company posted a more than 12% rise in annual adjusted operating profit.
The firm has pivoted into a pure-play chronic care company by streamlining its operations and launching new products, such as advanced wound care dressing, while expanding in North America and Europe.
Convatec expects its first-half adjusted operating margin to grow slightly from a year earlier, though lower revenue from its InnovaMatrix skin‑graft product and incremental tariff costs will likely weigh on its performance.
The company, which also makes catheters and drug delivery systems, reported an annual adjusted operating profit of $544 million, compared with $485 million a year earlier, with steady demand in its chronic‑care portfolio and new product launches supporting the growth.
The company reiterated that organic sales would grow 5% to 7%, excluding InnovaMatrix, for fiscal 2026. Convatec now sees its medium‑term organic revenue growth in the range of 6% to 8% compared with 5%–7% previously expected.
(Reporting by Nithyashree R B in Bengaluru; Editing by Mrigank Dhaniwala and Subhranshu Sahu)
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