Convatec Raises Medium‑Term Organic Revenue Target on Strong Pipeline

Convatec Growth Outlook and Financial Highlights

Feb 24 (Reuters) - Convatec lifted its medium-term organic revenue growth target on Tuesday, citing a strengthening medical product pipeline, after the British company posted a more than 12% rise in annual adjusted operating profit.

North America and Europe Focus

Advanced Wound Care Launches

Chronic Care Strategy and Expansion

The firm has pivoted into a pure-play chronic care company by streamlining its operations and launching new products, such as advanced wound care dressing, while expanding in North America and Europe.

Tariff Headwinds

InnovaMatrix Revenue Drag

Margin and Cost Outlook

Convatec expects its first-half adjusted operating margin to grow slightly from a year earlier, though lower revenue from its InnovaMatrix skin‑graft product and incremental tariff costs will likely weigh on its performance.

Adjusted Operating Profit Performance

The company, which also makes catheters and drug delivery systems, reported an annual adjusted operating profit of $544 million, compared with $485 million a year earlier, with steady demand in its chronic‑care portfolio and new product launches supporting the growth.

FY2026 Organic Sales Guidance

Medium‑Term Revenue Target Raised

The company reiterated that organic sales would grow 5% to 7%, excluding InnovaMatrix, for fiscal 2026. Convatec now sees its medium‑term organic revenue growth in the range of 6% to 8% compared with 5%–7% previously expected.

Reporting and Editing Credits

(Reporting by Nithyashree R B in Bengaluru; Editing by Mrigank Dhaniwala and Subhranshu Sahu)