Business RealignmentThe company announced that it had completed its previously announced evaluation of strategic alternatives for Tissue Health Plus (THP) and initiated a strategic realignment of its business, which involves discontinuing THP to improve operating efficiency.
Net LossNet loss was $30.4M, or ($3.52) per share, more than our estimated loss of $2.2M due to an asset impairment charge of $26.5M.
Operational DiscontinuationOperations of Tissue Health Plus discontinued to improve operating efficiency and reallocate resources to the core surgical business.