OpSens continues operations with shutdown exemption

• Cardiology-focused OpSens (TSX:OPS) has said that it will continue its operations as an essential service in Quebec
• The company manufactures and distributes the OptoWire – a guidewire for assessing blockages in patients with coronary artery stenosis
• So far, no disruptions to production, supply chains or distribution have been reported
• The company has also implemented a range of new policies at its facilities to manage the risk of COVID-19
• OpSens (OPS) is currently up 20.83 per cent to $0.58 per share, with a market cap of $52.36 million

Cardiology-focused OpSens (TSX:OPS) has said that it will continue its operations as an essential service in Quebec.

The company manufactures and distributes the OptoWire – a guidewire for physiological measurement. OptoWire is used to determine the extent of blockages in patients with coronary artery stenosis.

So far, the OptoWire has been used in the diagnosis and treatment of more than 80,000 patients from over 30 countries worldwide. It is currently approved for sale in the United States, the European Union, Japan and Canada.

Quebec’s provincial government announced yesterday the mandatory shutdown of all non-essential services until at least April 13. The new policy is part of wider, more drastic regulations designed to curb the spread of COVID-19.

However, as a vital medical provider, OpSens will continue to operate and meet the needs of doctors and patients around the world.

Louis Laflamme, President and CEO of OpSens, said that the company is following current guidelines.

“We are taking the necessary precautions to maintain the health, well-being and safety of our employees and providing uninterrupted services to our customers.

“OpSens is committed to meeting the needs of the medical community and ensuring we supply cardiologists with solutions that can positively impact their patients’ lives,” he added.

As yet, the company has seen no material impact in the operations of its production facilities, supply chain or distribution network. OpSens has therefore continued to fulfil customer orders in all of its key demographics.

However, strict risk management protocols have been implemented. Work periods have been divided into multiple shifts, and some office employees have been moved to a work-from-home schedule.

OpSens (OPS) is currently up 20.83 per cent to $0.58 per share at 3:58pm EST.