Thank and you, everyone. Mike, afternoon, good
differently to obvious. the remarks today. world. for company, and the stating our entire Let time me going our we're start This is the unprecedented an by Therefore, shareholders structure
hand pandemic, will Karleen, results who outlook. cover over topics First, related I'm strategic to discuss going to it the and our COVID-XX to then X
here Rather you in upfront. suspense, are my than points key keep
continuing momentum few performing strong Hologic has until over building last well the that years. been the late March, First, was exceptionally
healthy diagnostics And firms, into third, fundamentals threaten as for molecular moment unique side a pandemic. today. the focus our the on leading us the cash the would mitigate our live other spread providing most risk global facing is moved for this be we of COVID-XX by on solutions as so purpose one with of a and intact that the Second, important economies, the issue quickly to globe world's to
everything in ideas of offering challenging in hands I and all feet our new line am efforts, inside making while on some short we So Obviously, needs, back are we want scaling moment face diagnostics to it's help plant. commitment San investments a times. and we've in to with respond divisions Diego Hologic simultaneously in are them. safe the to the to who their that these the in of side our we seen boosting which possible, term, for thank our so unbelievably COVID us other Countless proud customers this. areas stronger our this keep employees will the business take and volunteered company world's engagement from packaging a much the have the business make to of from are own our employees to
Dave instrument when Keith team. commercial and regulatory the Exner's Maurice In world I'd impact A has years out over team; team; ways, project goes us Kevin special of leadership work have positioned the needs Marcos diagnostics development the Chester's our to us countless employees the and Tyler's managers; group; specifically Thornal. Borrell's so organization; Kathy thanks most. a to manufacturing like former current under Friedenberg's to massive But highlight Matt Gantner's team of many
when catch you we the on will. one Someday, has up on this which you'll look back sleep we world the of needed more. because your highlights of professional mainly other the as reach careers, We'll side, never
turn now let introduction, to those X points. that key me With
over continuing years. still be the March, late women's we'll due until well This and important exceptionally health COVID-XX on of needs a been is performing leader pandemic. away not building were last to are strong few going that's market we First, the the the because side momentum other
off. positions surgical. keep We'll our to and We'll in development We'll strong leveraging tuck-in diagnostics Our product internationally our U.S. new and keep boosting our commercial in health, growth innovative strategies breast keep all keep drives through continue across rate investing that we'll research will acquisitions. and pay franchises. growing growth, growth
we we were growth beat-and-raise Three our in in was growth for the another of February said revenue earnings release, X.X% organic quarter. areas on second our As drove through end pace the quarter. and
only First, our included about growth XXXX. rate $X.X global XX.X%, assay since revenue highest related of the million This revenue to molecular increased test. COVID
grew still continue onto including than about as Make assays our base. Molecular business now business Diagnostics our a installed basis. global Panther our layer the this, tests COVID on roll mistake XX% is to we Excluding on no more additional a it,
European Africa. performance by driven grew our Cynosure excluding in in by a the An business. way cervical in outstanding and But co-testing region the double-digit led team. Verstreken's load the growth. in Breast Surgical sales Health Jan and low for viral Second, Diagnostics posted the divested cancer second whopping quarter, testing by XX.X% quarter, Germany also
and was first most an exceptional U.S. on in pace Surgical strong XX.X% incredibly of for the the two months, Third, on recent quarter. to building up quarter, acceleration be
quarter, X.X% full decline in March. despite U.S. managed Surgical grow the a to still For significant
turn key to our point. me Now let second
in spread COVID-XX a we threaten quickly mitigate with to risk global economies and cash. on March, As moved focus the
ensure the intact that of still on Our fundamentals to this other the actions regard. would was healthy highlight our side to I'd be like several in pandemic. primary goal
years over First, the to several our us the face prepared well crisis. COVID efforts our to strengthen sheet balance last
with ago, very companies. years and investment-grade only credit that a $X.X interest billion rate covenants with line, a usually are revolving seen established we attractive several example, For
be line to bank and at flows early borrow As program. $XXX of our the to securitization spread, for off pandemic rapidly to this pay front lower partners. quickly future line the our the million from cash accounts to wanted prepare moved we both $XXX and of credit, We receivable act million with
buyback March. suspended in also our activities We share
we an the over and however, announced previously ASR long million, believe million term. X.X completed shares investment then $XXX.X our for excellent also repurchased will which we Before be
employees quickly through a each moved specific geography manufacturing we down shut salaries of to and reduce shortened preserve weeks and temporary, function compensation cut Second, broad the that contractors, me of pay combination areas, of and pay work we supplement matches across several plants. team division, the XX%, actually on conscious normally actions, We our by XX% same salaried hopefully through their and who time, and implemented roughly XX%. company. XXX(k) those global the decisions to XXX% salespeople the by we temporary our reductions. employees decisively for At commissions. operating temporarily other of In made needs each Board eliminated the were by we for business, receive and employees to would Based expenses furloughed and leadership for of or other at
good the to were other reduce as goals much as pandemic. to in our keep quickly be on Our people, side layoffs the and possible position of outright emerge a
third total, should rate help temporarily and reduce these other the by run the million In operating us in actions to $XX expenses second almost quarter. compared quarter
up COVID initiatives, intend of our such spending to Going care ramp our capacity. closely, and growth still manufacturing expenditures taking to forward, future employees as funding discretionary continue boosting capital while managing we
third Which to brings our topic. us major
stronger As moment on corporate our special over to in much us world's in the live purpose time placing in world. this the become into instruments for the several molecular we've Panther the success one a of a process. leading and had last the firms, company is diagnostics around Building years,
reopen by the a the are positive a well coronavirus as to elsewhere providing position unique efforts human fight significant that's testing our in pressures help We could economies. offset preserve our to business. And our needed to health as in provide molecular
January, scientists as virus immediately they influenza jumped of the published virus when emerged and was in the the When did on just our genetic past. in the Zika HXNX sequence SARS-CoV-X it,
wanted We Our We assay for months. as as were PCR-based focus then to to from our able emergency With a test for a secure market few a possible. about use soon was authorization test to chose in reasons. we get X on develop BARDA, support to speed.
Access that the as leveraged Fusion was faster written we previously First, it the for Open was module. software
that cause test PCR-based These Second, instrument. we the side COVID-XX our so labs disease we other run and the multiple patient sample sell can resemble a give for respiratory single capability to viruses that on to of test symptoms targets. wanted viruses Fusion influenza for
for first regulatory was based PCR, is backbone pathway the a of of couple most assays the clear there on assays. and Third, which respiratory tests COVID existing
and have understand truly all we getting people key controlling a to test highly delivering work on a disease accurate this to fast, back unprecedented is real Today, scale. results to that come
that many in putting diagnostics on on are have reason short why limited, these me results. producing are still a tests more U.S. is tremendous One to semi-automated lab Let volumes are testing strain systems, with. even that manual us focus who investors technicians tests. on or the supply Many industry is begin asked as run of word
Some of multiple limited. reagents been these have require vendors, systems which from
addition, tests have pandemic, In done to against play can't high volumes. role important an in they point-of-care the be while
concentrated which times can longer In small labs, high-volume turnaround been lead testing has of fact, relatively a in to and number backlogs.
COVID technologies, including base to dedicated For run to proprietary on all Panther alternative test PCR. Aptima quickly these is develop to a transcription-mediated which we using enormous the second reasons, system, resources our an amplification,
are infections, with tests already cervical advantages major X time tens million. technologies sexually to supported to screening approach, for is molecular There customers of a $XX lab these which use perform Our about again, millions this virology. BARDA, Aptima by transmitted and being cancer this of year
other resources chain quantities to First, massive been assays. Aptima produce for coronavirus these we tests produce diseases, because redirect our supply now numbers can scaled large manufacturing to has of of infectious
X other at expect million next not customers yes, in X testing raw using and by about week X our help planning reagents or tests should -- to are our starting do to to reduce for preparation a -- late provide May. for competition million we additional and Customers further acid capacity. produce Aptima Aptima global This lab Specifically, increase tests week assays commercial extraction. least steps materials need million sample perform nucleic
commonly assays. sample our Aptima is transport with Fusion for kit, multitest have help use collection which the shortages SARS-CoV-X Aptima swab alleviate to of we STD Finally, today, swabs testing and used mainly used collection validated specimen and for media, Panther both
XXX our compared the Fusion base newer on installed high world's about largest of platform. Panthers use much Aptima X,XXX Panther in are than globally to systems. tests the More run of Second, throughput
You leverage industry-leading a our installed This instruments. can high This the health almost of public can hospital, more and that is lab throughput tenfold customers increase means apply base ability testing. unprecedented in of volume reduces do to COVID simple math. our to bottlenecks This hands-on manual of and the that the automation error, given needed. reduce potential tests and coronavirus automation the for labor the helps full emerged power time reference have
when results where needed. more our lab they deliver and customers be So will able to are
it COVID a United help more in leader diagnostics unique customer assay menu change we Panthers, the a Adding on testing being both the in in place to the in accelerate that the in we've drive been move assay position leader as are turbocharge a systems States diagnostics field, for opportunity strategy years. a molecular we the diagnostics the positive have stronger higher will utilization provides from will that to much Panther molecular partnerships. already also and STDs with discussed, pursuing strong overseas, the and COVID to as and us broad-based previously
me that remains unprecedented purpose, Karleen, passion Before to these promise times, conclude it steadfast. over and let in turn by saying our I
more day. every Our relevant everywhere, pandemic. battle purpose enable is help Never been than has today lives as to global we that a healthier
been to for our diseases like Early demand market-leading products breast health. but women's back. control, call and differentiated providing cancer when be Sure, passion than always when combating by public products, pandemic come Obviously, women and our what is promise detection Our COVID-XX, more of are important. become in highly services affected under has health is And never which of crisis. The we a champions Science for cervical global is will the important rooted accurate, will
today chance us the have while as knowing issue strengthening difficult never for in efforts our that more facing toughest future. major the our the I been are also to energized world a today role about is, play the current As environment
turn Now me let call over to the Karleen.
