Latest news with #CVI
Yahoo
3 hours ago
- Business
- Yahoo
CooperCompanies Announces Second Quarter 2025 Results
SAN RAMON, Calif., May 29, 2025 (GLOBE NEWSWIRE) -- CooperCompanies (Nasdaq: COO), a leading global medical device company, today announced financial results for its fiscal second quarter ended April 30, 2025. Revenue increased 6% year-over-year to $1,002.3 million. CooperVision (CVI) revenue up 5% to $669.6 million, and CooperSurgical (CSI) revenue up 8% to $332.7 million. GAAP diluted earnings per share (EPS) of $0.44, consistent with last year's second quarter. Non-GAAP diluted EPS of $0.96, up $0.11 or 14% from last year's second quarter. See "Reconciliation of Selected GAAP Results to Non-GAAP Results" below. Commenting on the results, Al White, CooperCompanies' President and CEO said, "This was another solid quarter driven by double-digit growth in CooperVision's daily silicone hydrogel portfolio and CooperSurgical's office and surgical portfolio. As we move forward, our teams remain focused on taking share, delivering leverage, launching products and completing capacity expansion projects." Second Quarter Operating Results Revenue of $1,002.3 million, up 6% from last year's second quarter, up 7% in constant currency, up 7% organically. Gross margin of 68% compared with 67% in last year's second quarter driven by efficiency gains and mix. On a non-GAAP basis, gross margin was 68%, up from 67% last year. Operating margin of 18% compared with 17% in last year's second quarter driven by stronger gross margins and targeted expense leverage. On a non-GAAP basis, operating margin was 25%, up from 24% last year. Interest expense of $24.2 million compared with $28.9 million in last year's second quarter driven by lower interest rates and lower average debt. On a non-GAAP basis, interest expense was $23.5 million, down from $27.5 million. Cash provided by operations of $96.2 million offset by capital expenditures of $78.1 million resulted in free cash flow of $18.1 million. Second Quarter CooperVision (CVI) Revenue Revenue of $669.6 million, up 5% from last year's second quarter, up 7% in constant currency, up 7% organically. Revenue by category: % change y/y (In millions) Reported CurrencyImpact ConstantCurrency AcquisitionsandDivestitures Organic 2Q25 Toric and multifocal $ 328.4 6% 1% 7% —% 7% Sphere, other 341.2 5% 1% 6% —% 6% Total $ 669.6 5% 2% 7% —% 7% Revenue by geography: % change y/y (In millions) Reported CurrencyImpact ConstantCurrency AcquisitionsandDivestitures Organic 2Q25 Americas $ 282.4 7% 1% 8% —% 8% EMEA 248.6 5% 1% 6% —% 6% Asia Pacific 138.6 3% 2% 5% —% 5% Total $ 669.6 5% 2% 7% —% 7% Second Quarter CooperSurgical (CSI) Revenue Revenue of $332.7 million, up 8% from last year's second quarter, up 9% in constant currency, up 7% organically. Revenue by category: % change y/y (In millions) Reported CurrencyImpact ConstantCurrency AcquisitionsandDivestitures Organic 2Q25 Office and surgical $ 205.8 13% —% 13% (3)% 10% Fertility 126.9 3% 1% 4% (2)% 2% Total $ 332.7 8% 1% 9% (2)% 7% Other During the second quarter of fiscal 2025, the company repurchased $40.6 million of common stock, roughly 537.2 thousand shares, under the existing share repurchase program at an average share price of $75.60. The program has $215.8 million of remaining availability. Fiscal Year 2025 Financial Guidance The Company updated its fiscal year 2025 financial guidance. Details are summarized as follows: Fiscal 2025 total revenue of $4,107 - $4,146 million (organic growth of 5% to 6%) CVI revenue of $2,759 - $2,786 million (organic growth of 6% to 7%) CSI revenue of $1,347 - $1,359 million (organic growth of 3.5% to 4.5%) Fiscal 2025 non-GAAP diluted EPS of $4.05 - $4.11 Non-GAAP diluted earnings per share guidance excludes amortization and impairment of intangible assets, and certain income or gains and charges or expenses including acquisition and integration costs which we may incur as part of our continuing operations. With respect to the Company's guidance expectations, the Company has not reconciled non-GAAP diluted earnings per share guidance to GAAP diluted earnings per share due to the inherent difficulty in forecasting acquisition-related, integration and restructuring charges and expenses, which are reconciling items between the non-GAAP and GAAP measure. Due to the unknown effect, timing and potential significance of such charges and expenses that impact GAAP diluted earnings per share, the Company is not able to provide such guidance. Reconciliation of Selected GAAP Results to Non-GAAP Results To supplement our financial results and guidance presented on a GAAP basis, we provide non-GAAP measures such as non-GAAP gross margin, non-GAAP operating margin, non-GAAP diluted earnings per share, as well as constant currency and organic revenue growth because we believe they are helpful for the investors to understand our consolidated operating results. Management uses supplemental non-GAAP financial measures internally to understand, manage and evaluate our business, to make operating decisions, and to plan and forecast for future periods. The non-GAAP measures exclude costs which we generally would not have otherwise incurred in the periods presented as a part of our continuing operations. We provide further details of the non-GAAP adjustments made to arrive at our non-GAAP measures in the GAAP to non-GAAP reconciliations below. Our non-GAAP financial results and guidance are not meant to be considered in isolation or as a substitute for comparable GAAP measures and should be read only in conjunction with our consolidated financial statements prepared in accordance with GAAP. To present constant currency revenue growth, current period revenue for entities reporting in currencies other than the United States dollar are converted into United States dollars at the average foreign exchange rates for the corresponding period in the prior year. To present organic revenue growth, we excluded the effect of foreign currency fluctuations and the impact of any acquisitions, divestitures and discontinuations that occurred in the comparable period. We define the non-GAAP measure of free cash flow as cash provided by operating activities less capital expenditures. We believe free cash flow is useful for investors as an additional measure of liquidity because it represents cash that is available to grow the business, make strategic acquisitions, repay debt, or buyback common stock. Management uses free cash flow internally to understand, manage, make operating decisions and evaluate our business. In addition, we use free cash flow to help plan and forecast future periods. Investors should consider non-GAAP financial measures in addition to, and not as replacements for, or superior to, measures of financial performance prepared in accordance with GAAP. THE COOPER COMPANIES, INC. AND SUBSIDIARIES GAAP to Non-GAAP ReconciliationGross Margin, Operating Margin, and EPS Three Months Ended April 30, Six Months Ended April 30, (In millions) 2025 Margin % 2024 Margin % 2025 Margin % 2024 Margin % GAAP Gross Profit $ 679.1 68 % $ 631.2 67 % $ 1,339.3 68 % $ 1,255.0 67 % Acquisition and integration-related charges(1) 2.1 — % 0.4 — % 3.8 — % 1.2 — % Exit of business(2) — — % 0.4 — % — — % 0.5 — % Medical device regulations(3) 0.7 — % 0.7 — % 1.3 — % 1.7 — % Business optimization charges(4) — — % 1.7 — % — — % 3.3 — % Total 2.8 — % 3.2 — % 5.1 — % 6.7 — % Non-GAAP Gross Profit $ 681.9 68 % $ 634.4 67 % $ 1,344.4 68 % $ 1,261.7 67 % Three Months Ended April 30, Six Months Ended April 30, (In millions) 2025 Margin % 2024 Margin % 2025 Margin % 2024 Margin % GAAP Operating Income $ 184.8 18 % $ 161.7 17 % $ 366.8 19 % $ 314.8 17 % Amortization of acquired intangibles 49.8 5 % 50.3 5 % 99.4 5 % 100.6 5 % Acquisition and integration-related charges (1) 9.6 1 % 1.8 — % 13.9 1 % 12.3 1 % Exit of business (2) — — % 1.1 — % — — % 1.5 — % Medical device regulations (3) 5.3 1 % 5.0 1 % 10.7 1 % 10.2 1 % Business optimization charges (4) — — % 4.2 1 % — — % 11.0 — % Other (5) — — % 0.7 — % 0.6 — % 1.5 — % Total 64.7 7 % 63.1 7 % 124.6 7 % $ 137.1 7 % Non-GAAP Operating Income $ 249.5 25 % $ 224.8 24 % $ 491.4 26 % $ 451.9 24 % Three Months Ended April 30, Six Months Ended April 30, (In millions, except per share amounts) 2025 EPS 2024 EPS 2025 EPS 2024 EPS GAAP Net Income $ 87.7 $ 0.44 $ 88.9 $ 0.44 $ 192.0 $ 0.96 $ 170.1 $ 0.85 Amortization of acquired intangibles 49.8 0.24 50.3 0.25 99.4 0.49 100.6 0.50 Acquisition and integration-related charges(1) 9.6 0.05 1.8 0.01 13.9 0.07 12.3 0.06 Exit of business(2) — — 1.1 0.01 — — 1.5 0.01 Medical device regulations(3) 5.3 0.02 5.0 0.03 10.7 0.05 10.2 0.06 Business optimization charges(4) — — 4.2 0.02 — — 11.0 0.04 Other(5) 17.4 0.09 3.6 0.02 19.9 0.10 7.2 0.04 Tax effects related to the above items (11.1 ) (0.06 ) (14.1 ) (0.07 ) (25.8 ) (0.13 ) (33.9 ) (0.17 ) Intra-entity asset transfers(6) 34.8 0.18 28.7 0.14 67.8 0.34 61.1 0.31 Total 105.8 0.52 80.6 0.41 185.9 0.92 170.0 0.85 Non-GAAP Net Income $ 193.5 $ 0.96 $ 169.5 $ 0.85 $ 377.9 $ 1.88 $ 340.1 $ 1.70 Weighted average diluted shares used 200.7 200.5 200.9 200.2 EPS, amounts and percentages may not sum or recalculate due to rounding. (1) Charges include the direct effects of acquisition accounting, such as amortization of inventory fair value step-up, professional services fees, regulatory fees and changes in fair value of contingent considerations, and items related to integrating acquired businesses, such as redundant personnel costs for transitional employees, acquisition-related non-cash cumulative true up adjustments reflecting changes in compensation, other acquired employee related costs, and integration-related professional services, manufacturing integration costs, legal entity and facility rationalization and other integration-related activities. The acquisition and integration-related charges in fiscal 2025 were primarily related to the obp Surgical and the Cook Medical acquisition and integration expenses. The acquisition and integration-related charges in fiscal 2024 were primarily related to the Cook Medical acquisition and integration expenses. Charges included $3.5 million and $4.8 million related to redundant personnel costs for transitional employees, $1.1 million and $2.4 million of professional services fees, $1.2 million and $2.1 million of inventory fair value step-up amortization, $1.1 million and $1.8 million of facility rationalization costs, and $0.3 million and $0.4 million of other acquisition and integration-related activities in the three and six months ended April 30, 2025. The three months ended April 30, 2025 also included $2.4 million of acquisition-related non-cash cumulative true-up adjustments reflecting changes in compensation. Charges included $0.9 million and $4.9 million related to redundant personnel costs for transitional employees, $0.6 million and $3.7 million of professional services fees, $0.1 million and $0.8 million of manufacturing integration costs, and $0.2 million and $2.9 million of other acquisition and integration-related activities in the three and six months ended April 30, 2024. (2) Charges include costs related to product line exits such as inventory write-offs, site closure costs, contract termination costs and specifically-identified long-lived asset write-offs. There were no exit of business charges in the three and six months ended April 30, 2025. Charges included $0.9 million and $0.9 million of write-offs of long-lived assets, $0.2 million and $0.6 million of other costs related to product line exits in the three and six months ended April 30, 2024. (3) Charges represent incremental costs of complying with the new European Union (E.U.) medical device regulations for previously registered products and primarily include charges for contractors supporting the project and other direct third-party expenses. We consider these costs to be limited to a specific time period. (4) Charges represent the costs associated with initiatives to increase efficiencies across the organization and optimize our overall cost structure, including changes to our IT infrastructure and operations, employee severance costs, legal entity and other business reorganizations, write-offs or impairments of certain long-lived assets associated with the business optimization activities. There were no business optimization charges in the three and six months ended April 30, 2025. Charges included $2.1 million and $8.1 million of employee severance costs, $1.0 million $1.3 million related to changes to our IT infrastructure and operations, and $1.1 million and $1.6 million of legal entity and other business reorganizations costs in the three and six months ended April 30, 2024. (5) Charges include certain business disruptions from natural causes, litigation matters and other items that are not part of ordinary operations. The adjustments to arrive at non-GAAP net income also include gains and losses on minority interest investments and accretion of interest attributable to acquisition installment payables. Charges in the three months ended April 30, 2025 included $16.7 million of gains and losses on minority interest investments, of which $15.7 million was related to loss on disposal of a minority interest investment, and $0.7 million of accretion of interest attributable to acquisition installment payables. Charges in the six months ended April 30, 2025 included $17.9 million of gains and losses on a minority interest investment, $1.4 million of accretion of interest attributable to acquisition installment payables, and $0.6 million legal fees. Charges included $1.5 million and $2.9 million of gains and losses on minority interest investments, $1.3 million and $2.7 million of accretion of interest attributable to acquisition installment payables, and $0.8 million and $1.6 million related to legal matters in the three and six months ended April 30, 2024. (6) In fiscal 2021, the Company transferred its CooperVision intellectual property and goodwill to its UK subsidiary. As a result, we recorded a deferred tax asset equal to approximately $2.0 billion as a one-time tax benefit in accordance with U.S. GAAP in fiscal 2021 as subsequently adjusted for changes in UK tax law. The non-GAAP adjustments reflect the ongoing net deferred tax benefit from tax amortization each period under UK tax law. Audio Webcast and Conference Call The Company will host an audio webcast today for the public, investors, analysts and news media to discuss its second quarter results and current corporate developments. The audio webcast will be broadcast live on CooperCompanies' website, at approximately 5:00 PM ET. It will also be available for replay on CooperCompanies' website, Alternatively, you can dial in to the conference call at 800-715-9871; conference ID 1515103. About CooperCompanies CooperCompanies (Nasdaq: COO) is a leading global medical device company focused on helping people experience life's beautiful moments through its two business units, CooperVision and CooperSurgical. CooperVision is a trusted leader in the contact lens industry, helping to improve the way people see each day. CooperSurgical is a leading fertility and women's healthcare company dedicated to putting time on the side of women, babies, and families at the healthcare moments that matter most. Headquartered in San Ramon, CA, CooperCompanies has a workforce of more than 16,000, sells products in over 130 countries, and positively impacts over fifty million lives each year. For more information, please visit Forward-Looking Statements This earnings release contains "forward-looking statements" as defined by the Private Securities Litigation Reform Act of 1995. Statements relating to guidance, plans, prospects, goals, strategies, future actions, events or performance and other statements of which are other than statements of historical fact, including our fiscal year 2025 financial guidance, are forward looking. In addition, all statements regarding anticipated growth in our revenues, anticipated effects of any product recalls, anticipated market conditions, planned product launches, restructuring or business transition expectations, regulatory plans, and expected results of operations and integration of any acquisition are forward-looking. To identify these statements look for words like "believes," "outlook," "probable," "expects," "may," "will," "should," "could," "seeks," "intends," "plans," "estimates" or "anticipates" and similar words or phrases. Forward-looking statements necessarily depend on assumptions, data or methods that may be incorrect or imprecise and are subject to risks and uncertainties. Among the factors that could cause our actual results and future actions to differ materially from those described in forward-looking statements are: adverse changes in the global or regional general business, political and economic conditions including the impact of continuing uncertainty and instability of certain countries, man-made or natural disasters and pandemic conditions, that could adversely affect our global markets, and the potential adverse economic impact and related uncertainty caused by these items; the impact of international conflicts and the global response to international conflicts on the global and local economy, financial markets, energy markets, currency rates and our ability to supply product to, or through, affected countries; our substantial and expanding international operations and the challenges of managing an organization spread throughout multiple countries and complying with a variety of legal, compliance and regulatory requirements; the actual imposition or threats of tariffs, customs duties and fees by the U.S. government and other nations in response and other retaliatory actions, such as trade protection measures, import or export licensing requirements, new or different customs duties, trade embargoes and sanctions and other trade barriers, as well as the impact of the Company's efforts to mitigate the effect of such tariffs; foreign currency exchange rate and interest rate fluctuations including the risk of fluctuations in the value of foreign currencies or interest rates that would decrease our net sales and earnings; our existing and future variable rate indebtedness and associated interest expense is impacted by rate increases, which could adversely affect our financial health or limit our ability to borrow additional funds; changes in tax laws, examinations by tax authorities, and changes in our geographic composition of income; acquisition-related adverse effects including the failure to successfully achieve the anticipated net sales, margins and earnings benefits of acquisitions, integration delays or costs and the requirement to record significant adjustments to the preliminary fair value of assets acquired and liabilities assumed within the measurement period, required regulatory approvals for an acquisition not being obtained or being delayed or subject to conditions that are not anticipated, adverse impacts of changes to accounting controls and reporting procedures, contingent liabilities or indemnification obligations, increased leverage and lack of access to available financing (including financing for the acquisition or refinancing of debt owed by us on a timely basis and on reasonable terms); compliance costs and potential liability in connection with U.S. and foreign laws and health care regulations pertaining to privacy and security of personal information such as the Health Insurance Portability and Accountability Act of 1996 (HIPAA) and the California Consumer Privacy Act (CCPA) in the U.S. and the General Data Protection Regulation (GDPR) requirements in Europe, including but not limited to those resulting from data security breaches; a major disruption in the operations of our manufacturing, accounting and financial reporting, research and development, distribution facilities or raw material supply chain due to challenges associated with integration of acquisitions, man-made or natural disasters, pandemic conditions, cybersecurity incidents or other causes; a major disruption in the operations of our manufacturing, accounting and financial reporting, research and development or distribution facilities due to the failure to perform by third-party vendors, including cloud computing providers or other technological problems, including any related to our information systems maintenance, enhancements or new system deployments, integrations or upgrades; a successful cybersecurity attack which could interrupt or disrupt our information technology systems, or those of our third-party service providers, or cause the loss of confidential or protected data; market consolidation of large customers globally through mergers or acquisitions resulting in a larger proportion or concentration of our business being derived from fewer customers; disruptions in supplies of raw materials, particularly components used to manufacture our silicone hydrogel lenses; new U.S. and foreign government laws and regulations, and changes in existing laws, regulations and enforcement guidance, which affect areas of our operations including, but not limited to, those affecting the health care industry, including the contact lens industry specifically and the medical device or pharmaceutical industries generally, including but not limited to the EU Medical Devices Regulation (MDR), and the EU In Vitro Diagnostic Medical Devices Regulation (IVDR); legal costs, insurance expenses, settlement costs and the risk of an adverse decision, prohibitive injunction or settlement related to product liability, patent infringement, contractual disputes, or other litigation; limitations on sales following product introductions due to poor market acceptance; new competitors, product innovations or technologies, including but not limited to, technological advances by competitors, new products and patents attained by competitors, and competitors' expansion through acquisitions; reduced sales, loss of customers, reputational harm and costs and expenses, including from claims and litigation related to product recalls and warning letters; failure to receive, or delays in receiving, regulatory approvals or certifications for products; failure of our customers and end users to obtain adequate coverage and reimbursement from third-party payers for our products and services; the requirement to provide for a significant liability or to write off, or accelerate depreciation on, a significant asset, including goodwill, other intangible assets and idle manufacturing facilities and equipment; the success of our research and development activities and other start-up projects; dilution to earnings per share from acquisitions or issuing stock; impact and costs incurred from changes in accounting standards and policies; risks related to environmental laws and requirements applicable to our facilities, products or manufacturing processes, including evolving regulations regarding the use of hazardous substances or chemicals in our products; risks related to environmental, social and corporate governance (ESG) issues, including those related to regulatory and disclosure requirements, climate change and sustainability; and other events described in our Securities and Exchange Commission filings, including the 'Business', 'Risk Factors' and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections in the Company's Annual Report on Form 10-K for the fiscal year ended October 31, 2024, as such Risk Factors may be updated in annual and quarterly filings. We caution investors that forward-looking statements reflect our analysis only on their stated date. We disclaim any intent to update them except as required by law. Contact: Kim DuncanVice President, Investor Relations and Risk Management925-460-3663ir@ COOPER COMPANIES, INC. AND SUBSIDIARIES Consolidated Condensed Balance Sheets(In millions)(Unaudited) April 30, 2025 October 31, 2024 ASSETS Current assets: Cash and cash equivalents $ 116.2 $ 107.6 Trade receivables, net 780.9 717.0 Inventories 880.3 802.7 Prepaid expense and other current assets 348.3 324.2 Total current assets 2,125.7 1,951.5 Property, plant and equipment, net 1,928.5 1,863.4 Goodwill 3,864.7 3,838.4 Other intangibles, net 1,694.0 1,791.0 Deferred tax assets 2,141.7 2,210.3 Other assets 659.0 660.6 Total assets $ 12,413.6 $ 12,315.2 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Short-term debt $ 59.8 $ 33.3 Accounts Payable 244.2 260.5 Employee compensation and benefits 157.1 174.8 Deferred revenue 127.6 129.9 Other current liabilities 423.8 424.3 Total current liabilities 1,012.5 1,022.8 Long-term debt 2,525.6 2,550.4 Deferred tax liabilities 99.1 96.0 Long-term tax payable 17.7 57.5 Deferred revenue 196.4 193.3 Other liabilities 274.2 311.6 Total liabilities 4,125.5 4,231.6 Stockholders' equity 8,288.1 8,083.6 Total liabilities and stockholders' equity $ 12,413.6 $ 12,315.2 THE COOPER COMPANIES, INC. AND SUBSIDIARIES Consolidated Statements of Income(In millions, except per share amounts)(Unaudited) Three Months EndedApril 30, Six Months EndedApril 30, 2025 2024 2025 2024 Net sales $ 1,002.3 $ 942.6 $ 1,967.0 $ 1,874.2 Cost of sales 323.2 311.4 627.7 619.2 Gross profit 679.1 631.2 1,339.3 1,255.0 Selling, general and administrative expense 399.0 380.3 786.9 761.2 Research and development expense 45.5 38.9 86.2 78.4 Amortization of intangibles 49.8 50.3 99.4 100.6 Operating income 184.8 161.7 366.8 314.8 Interest expense 24.2 28.9 50.2 58.8 Other expense, net 16.1 2.8 18.8 6.0 Income before income taxes 144.5 130.0 297.8 250.0 Provision for income taxes 56.8 41.1 105.8 79.9 Net income $ 87.7 $ 88.9 $ 192.0 $ 170.1 Earnings per share - diluted $ 0.44 $ 0.44 $ 0.96 $ 0.85 Number of shares used to compute diluted earnings per share 200.7 200.5 $ 200.9 200.2 THE COOPER COMPANIES, INC. AND SUBSIDIARIES GAAP to Non-GAAP ReconciliationConstant Currency Revenue Growth and Organic Revenue Growth Net Sales % change y/y (In millions) Reported CurrencyImpact ConstantCurrency AcquisitionsandDivestitures Organic 2Q25 CooperVision $ 669.6 5 % 2 % 7 % — % 7 % CooperSurgical 332.7 8 % 1 % 9 % (2) % 7 % Total $ 1,002.3 6 % 1 % 7 % — % 7 %Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
3 days ago
- General
- Yahoo
Federal funding cuts force Englewood nonprofit to lay off outreach workers
The Brief Federal funding cuts led to the cancellation of a grant for Think Outside Da Block, an Englewood nonprofit focused on violence prevention and community outreach. The organization laid off more than half its outreach team, raising concerns about increased summer violence without their presence. Community members can support by volunteering, donating, or attending events — including a karaoke fundraiser this Friday at 6 p.m. near Ashland and Marquette. CHICAGO - A nonprofit in Englewood dedicated to building peaceful communities is feeling the effects of federal budget cuts. What we know As federal program cuts continue to take a toll on organizations nationwide, one Englewood nonprofit—dedicated to building peaceful communities—is being forced to make tough changes. The organization's loss of critical government support reflects a broader shift in priorities at the Department of Justice (DOJ). Think Outside Da Block is a nonprofit based on the city's South Side that focuses on youth development, violence interruption, and outreach. It is a member organization in a coalition of nonprofits notified last month that one of its grants was being terminated by the DOJ. Recently, founder Pha'Tal Perkins had no choice but to make difficult decisions that could dismantle years of community progress. He's had to lay off five of eight outreach staffers due to reduced federal support. "It's devastating to our community as some of these individuals are extremely influential and respected in our community and have been able to mediate conflicts and deter violence on the front end," Perkins said. Metropolitan Peace Initiatives (MPI), which secured the grant funding, received the notification letter from the Department of Justice on April 22, 2025. In total, $3.7 million has been revoked from three nonprofits in its coalition — including Think Outside Da Block. MPI Executive Director Vaughn Bryant is fighting the decision and has already submitted a formal appeal. Bryant issued the following statement to FOX 32 Chicago on Wednesday: "Metropolitan Peace Initiatives, a division of Metropolitan Family Services, serves those at highest risk of becoming shooting victims or perpetrators of violence themselves. Any life lost to gun violence is one too many. When the DOJ cut $3.7 million of funding to three nonprofits in our coalition, that had an immediate effect on communities like Englewood, West Englewood, and Woodlawn. With a 50 percent reduction in homicides and a 38 percent reduction in shooting victimizations from 2021 to 2025, we know that Community Violence Intervention (CVI) works. We, along with our partners at CPD, are saving lives. Having buy-in and collaboration on the federal level is vital to supporting CVI programming across Chicago. We've appealed the DOJ decision and are hopeful we can come to a swift resolution." Think Outside Da Block was founded in 2016 by Pha'Tal Perkins, who was born, raised, and still lives in Englewood. "Just after taking a wrong path, realizing I wanted better for myself, I wanted better for my community," Perkins said of his inspiration for the organization. With or without that funding, Perkins said his work will continue—showing community members that there is a future beyond their own block. "We all want to go through this summer peacefully, it's going to take all of us to work together," Perkins said. What you can do You can help by volunteering, donating, or attending one of the organization's events. This Friday, May 30, Think Outside Da Block is hosting a karaoke event at 6 p.m. near Ashland Avenue and Marquette Road. On Wednesday, June 4 from 5 to 7 p.m., the organization is teaming up with Chicago's SAFE Ambassadors to hold bike-riding lesson in advance of its upcoming 'Roll N Peace' community bike ride. The Roll N Peace ride, which is held annually, will take place on Friday, June 13 starting at 4 p.m. in Ogden Park (6500 South Racine Avenue). The 'roll off' is planned for 8 p.m. and interested participants can text "ROLLNPEACE" to 708-438-7300 to learn more.
Chicago Tribune
6 days ago
- Politics
- Chicago Tribune
Faith leaders: Memorial Day often marks an uptick in violence in Chicago. Let's ensure 2025 is less deadly.
For all the awful news filling our papers and screens on a daily basis, there is some very good news we would be remiss not to mention: Homicide rates in Chicago are dropping, and our city's slayings are decreasing at such a rate that 2025 looks to be a 10-year low. Much of this decline is the direct result of Chicago's admirable civic infrastructure of community violence intervention (CVI) programs, which, according to a Northwestern University report, are responsible for 40% drops in violence in neighborhoods where CVI is focused. The significant drops in homicide numbers matter. But we need to be clear that the communities we serve do not feel proportionately safer; they do not feel the 40% decline. One of our mothers lives on a Chicago block with an officer present and still feels terrorized to the point she feels the need to move. Declining homicide rates are to be appreciated, but we will hold our celebration until every community feels relief. So, while we hear the violence is decreasing and are grateful for the good news, we are nonetheless aware how vulnerable the reality is and how easily we can lose the positive momentum Chicago has built. Of course, we are concerned about the potential impact of federal and state budget cuts; as the CVI community continues to train and graduate peacekeepers through programs such as College Unbound, we fear funding might fall short of the need. Furthermore, we still have a mayor not only looking to take a victory lap on numbers that belong to programs not funded by that city, but also looking to enact inane policies such as the 'snap curfew' that curtail civil liberties and incarcerate young people of color. This Memorial Day weekend is not just the informal start of summer. It often marks the commencement of Chicago's most violent, deadly season. As faith leaders who applaud the decreases in violence, we must remind the city and its citizens: We need to end the violence that is literally killing our children, snatching them from our communities. Safety remains the No. 1 issue of concern for Chicagoans. Fear — fear of violence, fear of facing the barrel of a gun — has immeasurable impact. Fear of violence stops dreams. Fear of violence stops economic development. And while public safety is, in many ways, a matter for law enforcement, CVI and supportive officials such as our governor, it is incumbent upon us as people to hold the line and bring greater safety to our city. Everybody has responsibility in reducing violence. Of course, the city must have coordinated efforts and benchmarks to achieve, which is why we have been fighting for years to have an Office of Gun Violence Reduction with a budget, accountability and transparency. We need economic development in neglected neighborhoods and excellent schools across the city. Park districts should be overwhelmed with opportunities for young people, whether meaningful and edifying summer jobs or recreational activities that foster community and belonging. We must hold our elected officials accountable to these high standards. Civil society has a role to play too. Business must invest in Chicago's neglected communities, committing to stay in place for the long run and not running away when the tax credits abate. Churches, synagogues and mosques need to open their doors to summer activities for youths and their families; faith institutions must be engaged in their communities and use their pulpits to address the violence. While the youth summer jobs program is great, we need year-round opportunities for our young folks: Who better to advocate for this, and seek funding from their congregations, than the city's many faith leaders? Parents have a role as well. Parents simply must know where their children are, who they are with and what they are doing. Our city cannot function when parents are not held responsible for their children. We know Chicago's parents are often overwhelmed and need help: This is where the community needs to step in, opening doors and sharing support. Block clubs need a rebirth; neighbors need to start knowing their neighbors and being neighbors once again. Despite all of the successes in countering violence, Chicago still needs a remix. We need to bring our society to the point in which young people realize their value, their potential, their greatness and the purpose their lives bring to our world. Only then can we hope that our youths make the right choices to protect their futures, including knowing when to walk away and have the courage to make decisions to protect their futures. It cannot only be our teachers, our faith leaders and our peacekeepers who are protecting our children. All of us need to play a part in assuring the secure promise of the future for the rising generation. The day we all commit to protecting our children in all these ways will truly be one worthy of commemoration.
New Indian Express
21-05-2025
- Health
- New Indian Express
Understanding Cerebral Vision Impairment
Why it goes undiagnosed 'Children with CVI often experience other delays in development alongside their visual impairment,' states Dr Lokesh, adding, 'So, other developmental milestones like rolling over and speaking may take precedence.' Only those specific issues are treated but to no avail, and any vision impairment continues to go unnoticed until the child begins school, where there is more visual demand. 'It is important for parents to recognise any delays in visual milestones within the first three months,' Dr Rebecca asserts, further noting, 'If the child is unable to recognise faces, make eye contact or grab objects, they should be taken to a paediatrician.' From there, a child can be referred to a neurologist, who can then assess their birth history, MRI scans and visual behaviour to make a diagnosis. Reducing the burden of CVI It takes a village to raise a child, and once a child has been diagnosed with CVI, it requires a comprehensive team of medical experts to rehabilitate them — paediatricians, optometrists, neurologists, physiologists, special educators, behavioural therapists, speech therapists and more. 'The first 1,000 days of a child's life are when there is the most scope for improvement. In the critical period, that is, up to seven to eight years of age, we need to begin other therapies,' she explains. The earlier the rehabilitation begins, the better — early intervention with an individualised, interdisciplinary approach is key to a child's overall development. Both doctors also emphasise the need for parent support groups. Rehabilitation is a long-term commitment and depending on the severity of the child's impairment, it could take years for a child to reach a given milestone. In a world where disability is already so difficult to cope with, it is essential for parents to be kind and patient regarding their child. A support group can help them stay on track and remind them that they're not alone. Healthcare professionals and parents both play a crucial role in preventing and detecting CVI. Awareness and proper training among medical professionals — especially those involved in antenatal and neonatal care — are necessary to ensure the right call is made when any birth complications arise. New parents should also be educated on the importance of breastfeeding and the developmental milestones to anticipate. Such preventative measures are the first step to reducing the burden of CVI, so no child has to suffer.
Miami Herald
13-05-2025
- Health
- Miami Herald
Three-Year VenoValve(R) First-in-Human Trial Data Published in the Annals of Vascular Surgery
IRVINE, CA / ACCESS Newswire / May 13, 2025 / enVVeno Medical Corporation (NASDAQ:NVNO) ("enVVeno" or the "Company"), a company setting new standards of care for the treatment of deep venous disease, today announced that its manuscript titled, "Three-Year Outcomes of Surgical Implantation of a Novel Bioprosthetic Valve for the Treatment of Deep Venous Reflux1," has been published in the in the peer-reviewed journal, Annals of Vascular Surgery. The VenoValve was surgically implanted in the femoral vein of eleven subjects with active or healed venous ulcers (CEAP classifications C5-C6). Eight subjects completed three years of follow-up, with key findings including: The VenoValve remained safe and effective, achieving target patency and maintaining competence and clinical benefits The VenoValve is a potential first-in-class, surgical replacement venous valve for patients with severe deep venous CVI. The Company estimates that there are approximately 2.5 million potential new patients each year in the U.S. that could be candidates for the VenoValve. The Company has submitted a pre-market authorization (PMA) application for the VenoValve to the U.S. Food and Drug Administration (FDA), with a decision anticipated in the second half of 2025. About CVI Severe, deep venous Chronic Venous Insufficiency (CVI) is a debilitating disease that is most often caused by blood clots (deep vein thromboses or DVTs) in the deep veins of the leg. When valves inside of the veins of the leg fail, blood flows in the wrong direction and pools in the lower leg, causing pressure within the veins of the leg to increase (venous hypertension). Symptoms of severe CVI include leg swelling, pain, edema, and in the most severe cases, recurrent open sores known as venous ulcers. The disease can severely impact everyday functions such as sleeping, bathing, dressing, and walking, and is known to result in high rates of depression and anxiety. There are currently no effective treatments for severe CVI of the deep vein system caused by valvular incompetence. Estimates indicate that CVI costs the U.S. healthcare system in excess of $4 billion each year. About enVVeno Medical Corporation enVVeno Medical (NASDAQ:NVNO) is an Irvine, California-based, late clinical-stage medical device Company focused on the advancement of innovative bioprosthetic (tissue-based) solutions to improve the standard of care for the treatment of deep venous disease. The Company's lead product, the VenoValve®, is a first-in-class surgical replacement venous valve being developed for the treatment of deep venous Chronic Venous Insufficiency (CVI). The Company is also developing a non-surgical, transcatheter based replacement venous valve for the treatment of deep venous CVI called enVVe®. CVI occurs when valves inside of the veins of the leg become damaged, resulting in the backwards flow of blood (reflux), blood pooling in the lower leg, increased pressure in the veins of the leg (venous hypertension) and in severe cases, venous ulcers that are difficult to heal and become chronic. Both the VenoValve and enVVe are designed to act as one-way valves, to help assist in propelling blood up the leg, and back to the heart and lungs. The VenoValve is currently being evaluated in the SAVVE U.S. pivotal study and the Company is currently performing the final testing necessary to seek approval for the pivotal trial for enVVe. Cautionary Note on Forward-Looking Statements This press release and any statements of stockholders, directors, employees, representatives and partners of enVVeno Medical Corporation (the "Company") related thereto contain, or may contain, among other things, certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve significant risks and uncertainties. Such statements may include, without limitation, statements identified by words such as "projects," "may," "will," "could," "would," "should," "believes," "expects," "anticipates," "estimates," "intends," "plans," "potential" or similar expressions. These statements are based upon the current beliefs and expectations of the Company's management and are subject to significant risks and uncertainties, including those detailed in the Company's filings with the Securities and Exchange Commission. Actual results and timing (may differ significantly from those set forth or implied in the forward-looking statements. Forward-looking statements involve certain risks and uncertainties that are subject to change based on various factors (many of which are beyond the Company's control). The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future presentations or otherwise, except as required by applicable law. INVESTOR CONTACT:Jenene Thomas, JTC Team, LLC NVNO@ 824-0775 MEDIA CONTACT:Glenn Silver, FINN Partners 818-8198 SOURCE: enVVeno Medical Corporation
