Neonatal care firm Natus Medical cuts costs:
This article was originally published in Clinica
Natus Medical is reducing its headcount by 14% and carrying out other cost-cutting measures in a drive to achieve profitability by mid-2003. The San Carlos, California-based company, which manufactures medical products to detect and manage disorders in babies, says it has been hit by a maturing US market and uncertain international sales for its neonatal hearing test, ALGO, and a disappointing start for its CO-Stat new-born haemolysis detector. It will record a one-off charge of $0.25-0.3m in the quarter ending September 30th relating to the cost reduction programme, which will include the merging of the R&D and engineering departments and the termination of the position of vice-president of engineering. Natus has about $48.2m in cash.
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