'I never heard of the Strait of Hormuz before this': How one medical supply CEO is navigating the oil price shock
Key takeaways
- Livestream Menu Make Itselect USAINTLLivestream Search quotes, news & videos Livestream Watchlist SIGN INCreate free account Markets Business Investing Tech Politics Video Watchlist Investing Club PROLivestream Menu
- A few months ago David Navazio, founder and CEO of medical supply company Gentell, had never heard of the Strait of Hormuz.
- Chief among them is price, with Gentell under pressure from multiple angles.
Livestream Menu Make Itselect USAINTLLivestream Search quotes, news & videos Livestream Watchlist SIGN INCreate free account Markets Business Investing Tech Politics Video Watchlist Investing Club PROLivestream Menu
A few months ago David Navazio, founder and CEO of medical supply company Gentell, had never heard of the Strait of Hormuz. But now, the narrow waterway thousands of miles away from the company's headquarters in Yardley, Pennsylvania, is impacting the company's operations in more ways than one.
Chief among them is price, with Gentell under pressure from multiple angles. The company relies on derivatives from oil and gas production to manufacture its products, which includes medical dressings. Some raw material costs have surged by as much as 30%.