Getinge’s Q2 numbers missed estimates, sending the stock lower by over 6% at the open. Q2 sales down 7.5% organically, hurt by the 17.7% drop in Acute care therapies (ACT). The adjusted EBITA margin contraction (-470bp) was attributable to the lower volumes and supply-chain challenges. The firm maintained its FY22 outlook (organic revenues flat vs FY21). We will trim our estimates, but re-iterate our positive stance on the stock.