Olympus Corporation, 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.
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.
Yasuo Takeuchi, President and CEO, Olympus said, “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. 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.”