Olympus Sets Sights on Growth in Its Refocused Medical Business
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 leader’s 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 company’s approach:
- Focus the portfolio on disease states where Olympus can maximize impact
Olympus will focus on the disease states where it can maximize its positive impact, including those targeted by its Gastrointestinal, Urology, and Respiratory business areas. Aging populations worldwide face increasing levels of chronic disease that present unmet needs matching Olympus’ competitive strengths, as well as opportunities to continue providing solutions for colorectal cancer, benign prostatic hyperplasia, urological stone disease, urinary disease, and lung cancer. Other medical areas will remain important business components and support Olympus’ goal of striving for greater profitability, contributing to the company-wide goal of at least 5-6% annual growth and an operating profit margin of 20% or higher. - Shape the future by investing in new ways to enhance the standard of care
Olympus will concentrate on a care pathway oriented approach, procedural optimization, and next-generation solutions development. The company’s innovation pipeline includes plans to optimize its endoscope line through complementary single-use scopes; integrate computer-assisted diagnosis, cloud, and endoscopy workflow management technologies; and explore endoluminal therapy breakthroughs. - Enable Olympus to compete even more effectively on a global scale
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. Merger and acquisition momentum is expected to stay strong via the Olympus business development function, which drove significant acquisitions over the past 2 years. Additionally, the new Olympus wholly owned corporate venture capital fund will prioritize early-stage investments and aim to stimulate next-generation innovations.
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 people’s 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.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20211206005877/en/
Contact information
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
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Daiichi Sankyo Shines a Light on Inequalities and Unmet Needs in Care as Part of Its Commitment to People With Cardiovascular Disease31.8.2024 17:00:00 CEST | Press release
Daiichi Sankyo Europe, (hereafter, Daiichi Sankyo) today announced its reinforced commitment to addressing key unmet needs and barriers in cardiovascular (CV) care, by shining a light on inequalities in treatment and outcomes experienced by various patient groups. The announcement follows the presentation of data from sub-analyses of the SANTORINI observational study and ETNA-AF (Edoxaban Treatment in routiNe clinical prActice in patients with nonvalvular Atrial Fibrillation) study programme, at the European Society of Cardiology (ESC) Congress 2024. Gender inequalities in CV disease treatment and LDL-C goal attainment Raised low-density lipoprotein cholesterol (LDL-C) is a key modifiable contributor to risk of cardiovascular major events. It has been shown that for every 1 mmol/L reduction in LDL-C, there is a 22% reduction in major cardiovascular events after 1 year.7,8 Female patients in Europe who are at high or very high CV risk were undertreated and less achieved guideline-recomm
Suzano completes purchase of 15% stake in Lenzing AG31.8.2024 00:40:00 CEST | Press release
Suzano, the world's largest pulp producer, today announces the completion of its acquisition of a 15% stake in Lenzing AG, the Vienna-listed leading global supplier of sustainable premium cellulosic fibres for the textile and non-wovens industry, from B&C Group. As announced in June this year, the transaction value is EUR 230 million (or EUR 39.70 per share). The agreement was subject to regulatory approval, which was granted without restrictions. The long-term partnership between Suzano and B&C Group establishes that Suzano has the right to hold two seats on Lenzing’s Board and the option to acquire an additional 15% stake from B&C Group until the end of 2028. Following the sale of the 15% stake, B&C Group now holds 37.25% of Lenzing’s share capital. Lenzing is a leading global supplier of premium wood-based cellulosic fibers (lyocell, modal, and viscose) for the production of clothing, home textiles, hygiene products, and non-woven materials. Beto Abreu, CEO of Suzano, said: “Lenzing
Ant International Collaborates with Brazilian Partners to Drive Financial Inclusion with Innovative Credit Tech Solutions30.8.2024 20:46:00 CEST | Press release
Ant International, a digital payment and financial technology leader, today announced its strategic initiative to provide AI-driven credit technology solutions designed to empower local partners and advance financial inclusions in Brazil. As a major milestone, Ant International has formed a strategic partnership with Dock, a leader in payments and banking technology in Latin America. This collaboration aims to enhance the credit management capability and infrastructure efficiency for Dock’s clients, which include financial institutions, retailers, fintech start-ups, etc. The shared vision is to make credit services more inclusive for market segments that are currently insufficiently served, such as micro, small and medium-sized enterprises (MSMEs). In the initial phase of the collaboration, Ant International’s AI-driven credit tech solutions, including an automated and intelligent risk management engine, will be explored for integration into Dock One platform. This initiative aims to s
Wipro Appoints Srikumar Rao as Global Head of Its Engineering Edge Business Line30.8.2024 16:20:00 CEST | Press release
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology services and consulting company, today announced the appointment of Srikumar Rao as Global Head of its Engineering Edge Business Line, effective from October 5, 2024. Srikumar succeeds Harmeet Chauhan, who is stepping down to pursue opportunities outside the organization. Srikumar will report to Srini Pallia. Srikumar has been with Wipro for 26 years and has grown with the organization, serving in various leadership roles. He was most recently the Chief Operating Officer (COO) of Wipro Engineering Edge (WEE) and Global Practice Head of Embedded Systems. His work has spanned several markets, selling and delivering specialized Engineering, Research, and Development (ER&D) services to Software & Internet, Semiconductor, Automotive, Manufacturing, and Communications clients. In his new role, Srikumar will continue to scale and strengthen Wipro’s engineering prowess. He will also be responsible for defining the vision
Alnylam Presents Detailed Results from the Positive HELIOS-B Phase 3 Study of Vutrisiran▼ in Patients with ATTR Amyloidosis with Cardiomyopathy at the European Society of Cardiology Congress30.8.2024 12:00:00 CEST | Press release
Alnylam Pharmaceuticals, Inc. (Nasdaq: ALNY), the leading RNAi therapeutics company, today announced detailed results from the HELIOS-B Phase 3 study of vutrisiran, an investigational RNAi therapeutic in development for the treatment of ATTR amyloidosis with cardiomyopathy (ATTR-CM). The data were presented today in a Hot Line session at the European Society of Cardiology (ESC) Congress 2024, taking place August 30-September 2 in London, United Kingdom. Results from the HELIOS-B study were also simultaneously published in TheNew England Journal of Medicine. As previously reported, the HELIOS-B study met all 10 of its primary and secondary endpoints, across both the overall and monotherapy populations, with statistical significance. Enrolled patients were predominantly New York Heart Association (NYHA) Class I or II with wild-type disease and had been diagnosed by non-invasive methods, with substantial concurrent treatment with available standard of care treatments such as tafamidis and
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom