|12 Months Ended|
Dec. 31, 2022
On March 11, 2020, the World Health Organization declared the outbreak of COVID-19 as a pandemic, which spread globally and throughout the United States. With the exception of in-person visits to customer facilities by the Company's sales staff, the Company continued to operate despite stay-at-home orders and other government mandated shutdowns across the United States and Canada under exceptions allowed by those orders for the healthcare industry.
During 2020, the Company took a number of precautionary and preemptive steps to protect the safety and well-being of its employees while ensuring continuity of service to its clients, including, transitioning employees to a remote work environment, suspending employee travel, canceling participation in industry events and in-person group meetings, promoting social distancing and enhanced cleaning and sanitization efforts across office locations, and implementing protocols to quarantine employees who may have been exposed to COVID-19, or show relevant symptoms. The Company also executed preparedness plans at its facilities to maintain continuity of operations, which provided for flexible work arrangements without any significant disruptions to its business or control processes. The Company's management team is continuing to actively monitor the situation and continuously communicates with employees, customers and vendors. Other specific actions the Company took included purchasing additional inventory of supplies and pumps, as well as purchasing personal protective equipment for employees. While the Company’s business is considered critical, the Company is unable to predict the impact that the COVID-19 pandemic will have on future periods due to numerous uncertainties. While the COVID-19 pandemic has not had any material unfavorable effects to the Company's financial results for the year ended December 31, 2022, the extent of the impact in the future, if any, will depend on future developments, which are highly uncertain, cannot be predicted and could have a material adverse impact on the Company's financial position, operating results and cash flows. A prolonged outbreak could, among other things, strain the Company's business continuity plans, create delays in the Company's growth and strategic initiatives, reduce the Company's sales and marketing activities, limit the Company's access to financing on favorable terms, increase the Company's exposure to potential impairment charges related to long-lived and intangible assets, hinder the Company's ability to support its clients and operate its business effectively, heighten the risk of disruption to the Company's information and reporting systems and internal controls, including those over financial reporting and other risk management systems, or require the Company to incur substantial costs. The Company continues to closely monitor the impact of the COVID-19 pandemic on all aspects of its business and may take further actions as may be required by federal, state or local authorities, or that the Company determines are in the best interests of its employees, customers and partners. As the conditions surrounding the COVID-19 pandemic continue to evolve rapidly, the Company will continue to actively manage its response in collaboration with customers, government officials and stakeholders, and assess any potential impacts to the Company's financial position and operating results, as well as adverse developments in its business.