December 7, 2021 06:00 UTC
TOKYO – (COMMERCIAL THREAD) – Olympe Society (“Olympus” – Director, Executive Representative, President and CEO: Yasuo Takeuchi), clarified the direction of its medical activities with the aim of increasing its growth and profitability by raising the standard of care in the states pathological targets. The medical technology leader’s approach involves a greater focus on gastrointestinal, urological and respiratory care solutions for chronic diseases that will have a growing impact on the world’s population, as well as a more targeted investment in healthcare technologies. new generation that will improve patient care pathways.
Three main principles guide the company’s approach:
- Focus the portfolio on disease states where Olympus can maximize impact
Olympus will focus on disease states where it can maximize its positive impact, including those targeted by its gastrointestinal, urological and respiratory areas of activity. Aging populations around the world face increasing levels of chronic disease that present unmet needs that match Olympus’ competitive strengths, as well as opportunities to continue to provide solutions for colorectal cancer, benign hyperplasia prostate, urologic stones, urinary diseases and lung cancer. Other medical areas will remain important business components and support Olympus’ goal of pursuing increased profitability, contributing to the company-wide goal of at least 5-6% annual growth and ” an operating profit margin of 20% or more.
- Shaping the future by investing in new ways to improve the quality of care
Olympus will focus on a path-of-care approach, process optimization and the development of next-generation solutions. The company’s innovation pipeline includes plans to optimize its range of endoscopes with complementary single-use scopes; integrate computer-aided diagnostic, cloud and endoscopy workflow management technologies; and explore breakthroughs in endoluminal therapy.
- Enabling Olympus to be Even More Competitive Globally
The company’s approach includes enabling factors, such as an expanded global R&D network, stronger medical and scientific affairs, and a more centralized quality assurance and regulatory affairs function. M&A momentum is expected to remain strong through Olympus’ business development function, which has led to significant acquisitions over the past 2 years. In addition, the new 100% Olympus-owned enterprise venture capital fund will prioritize early stage investments and aim to stimulate next-generation innovations.
Olympus’ new focus builds on strong half-year numbers including a record operating profit margin of 18.5% and strong year-over-year growth of 31%, as reported on November 5. Medical business revenue is expected to reach a record for fiscal 2022. Olympus also reiterated its goal of operating with a profit margin of over 20% and a mid-term annual growth rate of 5-6 % during fiscal year 2023.
As of 2019, Olympus has finalized the sale of its imaging business and announced the imminent transition of its science solutions business into a newly created wholly owned subsidiary. A set of operational changes have improved efficiency, profitability, R&D processes and customer service.
“We are witnessing amazing changes in the global healthcare industry due to aging populations, the increase in chronic diseases, the integration of digital technologies, advances in health and biotechnology and the growing emphasis on less invasive treatments, ”said Yasuo Takeuchi, President and CEO of Olympus. “With the successful transformation of Olympus since 2019, we have become a global leader in medical technology. Today, we unveiled a unifying value creation direction designed to elevate the level of care, optimize the treatment journey for patients and healthcare professionals, and benefit all stakeholders, while accelerating our ability to achieve the profitability and growth objectives that we have set for ourselves. “
Olympus is passionate about creating customer-centric solutions for the medicine, life sciences and industrial equipment industries. For over 100 years, Olympus has worked to make people’s lives healthier, safer and more fulfilling by helping to detect, prevent and treat disease; advance scientific research; and ensure public safety. As a leading medical technology company, our medical business uses innovative capabilities in medical technology, therapeutic intervention and precision manufacturing to help healthcare professionals deliver diagnostic, therapeutic and minimally invasive procedures to ” improve clinical outcomes, reduce overall costs and improve the quality of life for patients. Olympus’ medical portfolio includes endoscopes, laparoscopes and video imaging systems, as well as surgical energy devices, customer solutions, medical services and a wide range of endotherapy instruments for endoscopic applications. and therapeutic. For more information visit www.olympus-global.com and follow our global Twitter account: @Olympus_Corp.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20211206005877/en/