Issue link: https://beckershealthcare.uberflip.com/i/1260323
45 GASTROENTEROLOGY 4 quotes on how Exact Sciences plans to stay relevant with telemedicine By Eric Oliver E xact Sciences posted first-quarter 2020 revenues of $347.8 million, a 114 percent year-over-year increase, but still realized a net loss of $105.7 million, or $0.71 per share. Here are four quotes from CEO and Chair Kevin Conroy and CFO Jeff Elliott on the company's quarterly earnings and plans go- ing forward, as transcribed by Motley Fool: Mr. Elliott on how COVID-19 affected Cologuard: "Cologuard revenue has been negatively impacted in two key ways by COVID-19 and related actions, such as stay- at-home measures and decreased wellness visits. First, fewer Cologuard tests are being ordered. Second, patients are completing tests at a lower rate. Aer a 63 percent year- over-year decline in Cologuard test orders during the first 20 days of April, we have recently seen a slight recovery." Mr. Conroy on the company's post-COV- ID-19 outlook: "e Exact Sciences team rewrote our 2020 priorities in response to the coronavirus pandemic. Our new priorities are getting people tested, taking care of our customers and preserving our financial strength. … We accelerated the launch of our telehealth site with patient education resources, highlighting their abil- ity to request Cologuard online through a telehealth provider. People can now request a telehealth consult specific to Cologuard from home. … We've introduced new social, digital and TV advertisements. CO- VID-19 will change the way people interact with their healthcare providers. And with these investments, Cologuard fits seamless- ly into, we believe, a permanently changed healthcare environment." Mr. Conroy on Exact's SARS-CoV-2 test- ing capabilities: "Exact Sciences decided to develop and rapidly roll out testing for the SARS-CoV-2 virus. We now have the capac- ity to test more than 60,000 people per week. Our goal is to keep our team healthy through ready access to our own testing. It also allows us to do our part in helping to increase our country's overall testing capacity." Mr. Elliott on Exact's telehealth launch: "We're pleased with the early launch. We're pleased with the growth we've seen so far, and we're very excited about the long-term opportunity with telehealth, especially in a COVID world. COVID, one of the lasting impacts that we see is a shi toward tele- health and Cologuard fits into that market very well. Again, this really highlights the at- home convenient nature and the underlying value of Cologuard, so we're excited about what it can mean." n Majority and Minority Interest Sales | Growth Strategies | Real Estate Sales / Leasebacks | ASC and Practice Exper tise Considering Selling Your ASC or Real Estate? ASCs Inc. has represented the physician- owners of over 250 ASCs, enabling them to realize the absolute best results by - Expertly managing the ASC sales process, whether a majority or minority sale Obtaining maximum value for ASC/MOB real estate sales/leasebacks. Engaging the most likely and qualified prospective buyers Leveraging our team's depth of experience, knowledge and expertise Effectively managing the complex and time consuming transaction process Creating the most competitive environment to realize maximize value Ensuring our clients end up with optimal financial and non-financial results Representing Physician-Owners (760) 751-0250 • www.ASCs-Inc.com