AtriCure Announces Preliminary Financial Results for First Quarter 2020 and Provides COVID-19 Pandemic Update

AtriCure, Inc. (Nasdaq: ATRC), a leading innovator in treatments for atrial fibrillation (Afib) and left atrial appendage (LAA) management, today announced preliminary financial results for the first quarter 2020 and provided updates in response to the COVID-19 pandemic.

“Through these challenging times, our first priority continues to be the health, safety, and well being of our employees, customers, and their patients,” said Michael Carrel, President & Chief Executive Officer. “While we believe strongly in the long-term prospects of our business, we expect a reduction in forecasted sales over the next several months. What has not changed is the strong foundation and the many unique catalysts for our business, including the CONVERGE and aMAZE clinical trials, the EnCompass^TM Clamp and the thoracic pain management opportunity. We expect that once we’re through this period of uncertainty, the strong foundation we have built will carry us into a future of sustained growth.”

COVID-19 Pandemic Updates

AtriCure remains committed to the health and safety of our employees and their families, our customers, suppliers, and patients through this difficult time. “We are incredibly grateful for AtriCure employees who continue to passionately pursue our mission for patients,” said Mr. Carrel. “In addition, the healthcare workers on the front lines are real-life heroes and will forever deserve our gratitude for their efforts.” The company has taken important action to mitigate potential health and safety risks posed by the COVID-19 pandemic while ensuring the continuity of operations. These actions include:

Health and Safety: In a continuing effort to protect the health and safety of our workforce and their families and communities and based on applicable orders and recommendations from federal and local government and health agencies, employees have been enabled to work from home. There are certain exceptions to ensure the continuity of customer support services at the request of physician and hospital customers, as well as critical manufacturing operations noted below. The company has also implemented other measures, such as restricting travel where possible, to protect the health and safety of our customers, their patients and our employees.