ICU Medical, Inc. (ICUI) Presents at Morgan Stanley 24th Annual Global Healthcare Conference Transcript

Peter Harrison Great. Good morning. This is Peter Harrison from Morgan Stanley's Investment Banking division. Today with me, I'd like to introduce Vivek Jain from ICU Medical, Chairman and CEO. Welcome, Vivek, and thanks for joining us. Vivek Jain CEO & Chairman of the Board Thanks, Peter, for having us at this great event. I appreciate people showing up at 7:00 a.m. New York time. Question-and-Answer Session Peter Harrison Perfect. Let's get started. Maybe let's start with the macro environment. On your Q2 call, you reiterated continued stable demand and utilization environment and status quo capital equipment market. It's different from some people we heard about ACA subsidy expirations affecting surgical volumes. That does not seem to have an effect on you guys. Do you agree that consensus continues to be healthy? Vivek Jain CEO & Chairman of the Board Sure. I mean, there was obviously some news last week with some of the large companies having their own specific commentary around procedure volumes. For us, our business is tied to hospital admissions. And from what we've seen, our customers are busy, census appears pretty good. We haven't seen any slowdown. It's, to use the words we said in our call script, it's in line with the assumptions underlying our guidance, which was okay growth underlying, not spectacular in terms of markets, but still positive. Peter Harrison And the rest of this year feels better, worse, the same? Vivek Jain CEO & Chairman of the Board Rest of the year feels very consistent with those comments. We haven't seen any big swings in either