Q1 2020 Smith & Nephew PLC Trading Statement Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Thomas M. Jones - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst : I wanted to, firstly, follow up on the ASC discussion and then I had a question perhaps for Ian. On ASC, it's been clear the shift from hospitals to ASC settings has been going on for a while. And I think the general belief is that the COVID-19 situation is going to accelerate that. Clearly, that's playing for all to see, and your competitors have also noticed that trend. So aside from your ability to perhaps leverage your Sports Medicine business, which, to be honest, has been -- over the years, has been quite a hard thing to do, but maybe it's easier in ASCs. But aside from that, is there anything you think that gives you a competitive advantage in the ASC setting? Maybe you can give us a bit more color on your positive connections offering. That would be my first question. And then the second one for Ian. The $200 million cost savings, how should we think about the phasing of those over the years? Are they likely to be much more H1-weighted? Or is that just kind of a pro forma number that we can divide by month and it will be tailored as and when the COVID-19 situation develops? Just some idea of how to think about that would be helpful.

Question: Thomas M. Jones - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst : Yes. And do you have any differing sales approach to an ASC versus a hospital? Because you mentioned, with a hospital, it's easy to have 1 rep for the Sports Med business and another for the recon business. But within a smaller ASC, does it make sense to have 1 person selling both products? Or just some color on how you market to ASCs versus hospitals would be helpful, I think.

Question: Thomas M. Jones - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst : Very helpful. And the costs?