Olympus Corporation announced 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, according to a release.
The medtech 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.
They outlined three major principles to guide the company’s approach:
1. 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.
2. 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.
3. 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.