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CEO Devdatt Kurdikar explained that the updated guidance reflects revised distributor demand in China, driven by the challenging geopolitical environment that may favor local brands and by potential inventory rebalancing. Regarding GLP-1s, Kurdikar stated that while Embecta's syringes could be used with compounded drugs, the company is strategically focused on the much larger, officially indicated opportunity of co-packaging its pen needles with generic GLP-1 therapies, which is expected to be a more significant long-term revenue driver.

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Daniel Carestio, President & CEO, confirmed STERIS has not observed any slowdown in its sterilization business and noted the ASC trend is a positive driver for its capital equipment business. Michael Tokich, Senior VP & CFO, clarified that increased healthcare costs are primarily due to higher employee utilization of benefits, not significant premium hikes.

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President and CEO Ashley McEvoy stated that while Insulet supports increased patient access, its business model is not directly impacted. She emphasized that Omnipod is distributed almost entirely through the pharmacy channel under Medicare Part D, which is not eligible for the proposed Part B competitive bidding program. She affirmed that Insulet will continue to engage with CMS on the benefits of its technology.

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Ashley McEvoy, Director, President & CEO, stated that while Insulet supports increased patient access, its business model is fundamentally different. With a pay-as-you-go model and near 100% distribution through the pharmacy channel (Medicare Part D), she explained that the company believes its products are not eligible for competitive bidding under Part B and that they will continue to engage with CMS on the matter.

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CEO Vladimir Makatsaria stated that China is LivaNova's second-largest HLM market and a significant leadership position, and he does not anticipate a meaningful impact from trade restrictions. On reimbursement, President of Global Epilepsy Stephanie Bolton explained that a patient may have up to 6-8 replacements over their lifetime, making the proposed reimbursement increase a meaningful factor that could improve the overall service line economics for hospitals, thereby encouraging new patient adoption.

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VP of Investor Relations Ezgi Yagci confirmed that a destocking headwind from the Inspire IV to V transition is factored into the second-half guidance but declined to quantify the specific impact. She stated the number of active centers is now slightly over 1,500, noting that new center openings slowed in the first half to focus resources on the Inspire V launch.

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CEO Liam Kelly did not provide a specific site-of-service mix for Baragel but noted the proposed reimbursement uplift in the physician office setting is encouraging and could shift volume there over time. CFO John Deren explained that price increases to offset tariffs are in the early stages, with a larger opportunity expected in 2026, and that he does not anticipate 'significant pushback' from customers.

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EVP & CFO Jereme Sylvain explained that the program is financially 'net neutral' and was implemented as the enabling technology became available. He positioned it as a key differentiator that adds value by offering customers the choice and convenience of an immediate, same-day sensor replacement at a local pharmacy.

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CMO Dr. Ken Stein acknowledged the concern, stating that the company believes the proposed payment undervalues the complexity of the procedure and that Boston Scientific is supporting medical societies to mitigate the impact. He expressed his firm belief that physicians will continue to choose the most clinically appropriate treatment for stroke prevention, and he remains hopeful that such a cut, if finalized, would not prevent patients from receiving necessary care.

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CEO Brian Webster described the sole-source contract as a positive sign, driven by the provider's desire to manage patients more effectively and improve hospital discharge efficiency. CFO Vaseem Mahboob addressed seasonality, stating they expect prescription growth to average 40% quarterly in FY26, with higher conversion rates in the first half of the year compared to the second half.

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