07 December 2021 | Company results | By Hithaishi C Bhaksar
Investment in single-use endoscopes, digital solutions, and endoluminal therapies expected with a sharper focus on gastrointestinal, urological, and respiratory care
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Olympus Corporation, on 7th Dec 2021, unraveled its projection for the medical business by elevating the standard of care in targeted disease states. The MedTech leader’s approach involves a greater focus on gastrointestinal, urological, and respiratory care solutions for chronic diseases. With more focused investment in next-generation technologies, Olympus is planning to invest in single-use endoscopes, digital solutions, and endoluminal therapies by expanding R&D capabilities, stronger medical and scientific affairs.
The company’s approach is guided by three major principles:
Olympus will focus on Olympus’ competitive strengths will explore the opportunities to provide solutions for colorectal cancer, benign prostatic hyperplasia, urological stone disease, urinary disease, and lung cancer. Olympus strives for a company-wide goal of at least 5-6% annual growth and an operating profit margin of 20% or higher.
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.
The company aims to expand its global R&D network, stronger Medical and Scientific Affairs, and a more centralized Quality Assurance and Regulatory Affairs function. The new Olympus wholly-owned corporate venture capital fund will prioritize early-stage investments and aim to stimulate next-generation innovations.
Olympus’ half-year figures, record a 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.