Allegra receives orders for more than 100,000 face shields
As a result of the severe and mounting disruption to the supply of personal protective equipment (PPE) due to COVID-19 challenges, Allegra Orthopaedics Limited (ASX:AMT) has commenced distribution of high-quality face shields which are Australian designed and manufactured.
Following an announcement by Allegra on Wednesday that it had received significant orders, currently standing at 105,000 face shields the company’s shares surged approximately 30% to close at 19.5 cents.
Providing further interest for investors were management’s comments that the company is in ongoing discussions with other major hospital groups who have also expressed great interest in the shields.
Healthcare workers rely heavily on PPE to protect themselves and patients from contracting and also transferring COVID-19.
These face shields that have been approved by the Therapeutic Goods Administration (TGA) have enabled Allegra to diversify its product range and provide Australian-made protective equipment to meet hospital needs now and into the future.
Allegra demonstrates its ability to adapt to market needs
Allegra’s principal product, the Active Total Knee, has significantly improved the quality of life for many people and remains a focused product line.
The company is also the exclusive distributors of Waldemar Link GmbH & Co. KG products in Australia.
Link consists of a range of complex lower limb, hip and knee replacements, including oncology solutions.
The Link products add to Allegra’s well-developed range of products for distribution from international suppliers covering all specialties from foot and ankle to upper limb.
The addition of face shields to Allegra’s product range is expected to partly offset the negative financial impact incurred by Allegra as a result of the Federal Government’s action to suspend all elective surgeries in both public and private hospitals.
Allegra chief executive Jenny Swain highlighted the company’s ability to diversify across different fields in saying, “We feel very proud to be able to supply Australian designed and manufactured face shields for our front line carers.
"The current demand for PPE illustrates the need for companies to be ready to diversify during this global uncertainty surrounding COVID-19.
"I am pleased to say that Allegra has been proactive in making this happen and more importantly, we are supporting Australian manufacturing.”