The number of surgical procedures at the beginning of the quarter was lower compared to the previous year because Easter fell in April this year (in March the previous year). In addition, Spain and Portugal experienced power outages during the quarter, which led to the cancellation of scheduled surgical procedures. In some countries, a decline in the number of surgical procedures was also observed at the end of June ahead of the summer. Some hesitation regarding capital investments is noted, particularly in the UK due to uncertainty about future budgets, and to some extent in the Nordics due to slow procurement processes.

In several countries, changes to product portfolios are underway, with products being phased out and new ones being launched. This process can, during a transition period, lead to higher inventory levels and a temporary decrease in sales. Over time, the renewal of product portfolios is expected to contribute to increased growth and improved margins. Strong growth was noted in highly specialized areas such as pain management, interventional radiology, and spinal surgery. The work of analyzing, selecting, and introducing products in the area of robotic surgery continues and is expected to have great future potential.

In ophthalmic surgery, sales grew and margins are gradually improving. Products with low profitability are being phased out, relationships with key suppliers have been strengthened, and new advanced products have been added. However, the progress takes time and significant improvement potential remains.

The acquisition of Edge Medical is developing well, and there is potential to further broaden the product portfolio with support from other companies within AddLife. The quarter was affected by transaction costs for the acquisition, and Edge Medical is expected to contribute positively to results from the third quarter of 2025.