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The risk factors described below may have the effect of heightening many of the risks contained in the Company’s Form 10-K and other periodic reports.
−Removed: Global health emergencies, such as the COVID-19 pandemic, may disrupt our business.
−Removed: The measures taken or that may be taken in the future by governments, businesses, hospitals, our Company and our partners, patients and the public to mitigate the spread of COVID-19 and manage the resulting public health crisis have had, and we expect will continue to have, certain negative impacts on our business.
−Removed: The suspension or cancellation of elective or non-emergent medical procedures beginning in the first quarter of 2020 negatively impacted the demand for and sales of our products.
−Removed: While demand for our products has been returning since mid-April 2020 as healthcare institutions have altered how they are managing elective or non-emergent medical procedures, it is not possible to predict with precision whether and when demand for our products will return to levels that existed prior to the onset of the pandemic.
−Removed: The Company has implemented extensive business contingency plans across its global organization and network of business partners which help limit some of the impact of the COVID-19 pandemic but does not completely prevent or avoid negative impact on the business.
−Removed: The extent to which the COVID-19 pandemic will negatively affect the Company's operations and financial position will depend on future developments that remain uncertain and cannot be predicted with precision, including, without limitation, the scope and duration of the pandemic, the nature of various restrictive measures implemented to reduce the spread of the disease, the pace of business reopening plans across the globe, and related actions taken, or that may be taken in the future, by various governments and third parties in response to COVID-19.
+Added: The sale of the Extremity Orthopedics business is subject to customary closing conditions, including an employee consultation process in France, and may not be completed on a timely basis, or at all.
+Added: On September 29, 2020, the Company and certain of its subsidiaries entered into an agreement to sell to Smith & Nephew USD Limited.
+Added: the Company’s upper and lower extremity orthopedics product portfolio, including ankle and shoulder arthroplasty and hand and wrist product lines (See FN 2 Assets and Liabilities for Sale).
+Added: We cannot assure you that the conditions to the closing of the sale will be satisfied and, if those conditions are neither satisfied nor, where permissible, waived on a timely basis or at all, we may be unable to complete the sale of the Extremity Orthopedics business, or such completion may be delayed or completed on terms that are less favorable, perhaps materially, to us than the terms currently contemplated.
+Added: If the proposed sale of our Extremity Orthopedics business is completed, the announcement and pendency of the sale may be disruptive to our businesses (including the Extremity Orthopedics business) and may adversely affect our existing relationships with current and prospective employees and business partners, as well as with customers.
+Added: Uncertainties related to the pending sale may also impair our ability to attract, retain and motivate key personnel and could divert the attention of our management and other employees from its day-to-day business and operations in preparation for and during the sale.
+Added: If we are unable to effectively manage these risks, the business, results of operations, financial condition and prospects of our businesses could be adversely affected.
+Added: If the proposed sale of the Extremity Orthopedics business is delayed or not completed for any reason, including due to our or Smith & Nephew's inability to satisfy the closing conditions set forth in the Definitive Agreements or industry or economic conditions outside of our control, including those related to the ongoing COVID-19 pandemic, investor confidence could decline.
+Added: Moreover, in the event of a failed transaction due, for example, to our inability to successfully go through the employee consultation process in France in timely fashion, we will incur costs and will have expended significant management resources in an effort to complete the sale.
+Added: Accordingly, if the proposed sale of the Extremity Orthopedics business is not completed on the timeline or terms currently contemplated, or at all, our business, results of operations, financial condition, cash flows and stock price may be adversely affected.
UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.