Company to Focus on Elevating the Standard of Care in Targeted Disease States
- � Plans include sharper focus on gastrointestinal, urological and respiratory care
- Investment in single-use endoscopes, digital solutions, and endoluminal therapies expected
- Expanded R&D capabilities, stronger medical and scientific affairs, and other enabling factors will support better execution of Olympus medical business
TOKYO–(BUSINESS WIRE)–Olympus Corporation (Olympus Director, Representative Executive Officer, President and CEO: Yasuo Takeuchi), has clarified the direction of its medical business with the aim of achieving further growth and profitability by elevating the standard of care in targeted disease states. The medtech leaders approach involves greater focus on gastrointestinal, urological, and respiratory care solutions for chronic diseases that will increasingly impact the global population, as well as more focused investment in next-generation technologies that will enhance patient care pathways.
Three major principles guide the companys approach:
Olympus new direction comes on the back of strong half-year figures, including a record operating profit margin of 18.5% and strong year-on-year growth of 31%, as announced on November 5. Medical business revenue is expected to reach a record high for fiscal year 2022. Olympus also reiterated its goal of operating with a 20%-plus profit margin and a midterm annual growth rate of 5-6% in fiscal year 2023.
Since 2019, Olympus has completed the sale of its Imaging business and announced the impending transition of its Scientific Solutions business into a newly established, wholly owned subsidiary. A package of operational changes brought about enhancements in efficiency, profitability, R&D processes, and customer care.
We are witnessing stunning changes to the global healthcare industry due to the aging of populations, the rise of chronic diseases, integration of digital technologies, health and biotech advancements and a 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 medtech leader. Today we have unveiled a unifying value creation direction that is designed to elevate the standard of care, optimize the treatment journey for patients and healthcare professionals, and benefit all stakeholders, while accelerating our ability to deliver on the profitability and growth targets we have set.
About Olympus
Olympus is passionate about creating customer-driven solutions for the medical, life sciences, and industrial equipment industries. For more than 100 years, Olympus has focused on making peoples lives healthier, safer and more fulfilling by helping to detect, prevent, and treat disease; furthering scientific research; and ensuring 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 enhance 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 and therapeutic applications. For more information, visit www.olympus-global.com and follow our global Twitter account: @Olympus_Corp.
Contacts
For further information:
Yuka Horimoto: +81-90-2490-1071 / Yuka.Horimoto@olympus.com
Robert John Tasker: +852 61856198 / Robert.Tasker@fleishman.com
Joy Kam: +852 64233931 / Joy.Kam@fleishman.com
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