07.20.23
Rank: #18 (Last year: #19)
¥881.92 Billion ($6.65 Billion)
Prior Fiscal: ¥750.12 Billion
Percentage Change: +17.6%
R&D Expenditure: ¥75.1B
Best FY23 Quarter: Q4 ¥202.9B
Latest Quarter: (FY23) Q4 ¥202.9B
No. of Employees: 21,898
Global Headquarters: Shinjuku City, Tokyo, Japan
KEY EXECUTIVES:
Yasuo Takeuchi, Director, Representative Executive Officer, and Executive Chairman and ESG Officer
Stefan Kaufmann, Director, Representative Executive Officer, President and CEO
Nacho Abia, Chief Strategy Officer, Olympus Corporation; CEO, Olympus Corporation of the Americas
Frank Drewalowski, Executive Officer and Endoscopic Solutions Division Head
Gabriela Kaynor, Executive Officer and Therapeutic Solutions Division Head
Chikashi Takeda, Executive Officer and CFO
Chief executive changes are nothing new to the Top 30, and Olympus followed this trend last year with the October 2022 announcement that director, executive officer, and chief administrative officer Stefan Kaufmann would become director, representative executive officer, president, and CEO of the company effective April 1, 2023.
Kaufmann replaced Yasuo Takeuchi, who had a four-year tenure at the helm of Olympus and led the company’s recent transformation journey to become a leading global medtech company. Takeuchi oversaw transfer of Olympus’ transfer of the imaging and scientific solutions businesses and its renewed focus on medtech.
“It has been a privilege to lead Olympus through a historic moment for the company,” Takeuchi said in a press release. “With the completion of the groundwork of transformation in the first three years since the corporate strategy was announced in 2019, we can now shift to the next phase to accelerate growth and improve performance. I have full confidence that Stefan will continue this momentum.”
Kaufmann is an Olympus veteran with two decades’ experience in senior roles. He most recently served concurrently as the company’s chief administrative officer, chief strategy officer, and chief transformation officer.
“After years of very successful transformation, we see further opportunities to advance our global operations and processes with a strong focus on elevating the standard of care to benefit our customers and patients,” Kaufmann said in the same press release. “Looking three to five years ahead, our key themes will be innovation, research, and development and inorganic growth, competitive performance, talent development, and sustainability.”
Olympus reported ¥881.9 billion ($6.65 billion) in its fiscal year ended March 31, 2023, rising just over 8% from its previous year’s total. The Endoscopic solutions business accrued ¥551.8 billion in its most recent fiscal year, shooting upward 19.6% year over year. According to the company’s financial documents, gastrointestinal (GI) endoscope sales recovered in China from the lockdown, and sales also grew in North America and Europe. EVIS X1 GI series sales were favorable and demand for previous generation upper GI videoscopes and colorectal videoscopes were also firm. Surgical endoscope sales were also strong.
The redesigned Guide Sheath Kit 2 hit the market in April. The Kit facilitates access to lesion in peripheral lung regions via bronchoscopy with radial EBUS (endobronchial ultrasound). It features a braided wire inside the guide sheath for kink resistance and better flexibility. The kit includes 1.5 mm biopsy forceps and a 1.4 mm cytology brush to collect specimen, and clip-type stoppers to simplify ultrasonic probe/endotherapy device setup and positioning before and during a procedure. According to Olympus, the guide sheath can reach bronchi branches beyond the brochoscope’s distal end to advance endoscopic devices further.
September saw release of VISERA ELITE III, a surgical visualization platform for endoscopic procedures. 3D and infrared imaging functions are integrated from the previous-gen VISERA ELITE II and a 4K imaging function from VISERA 4K UHD as well. It also supports fluorescence-guided surgery and the unique NBI observation mode developed by Olympus. Customized profiles can be developed for general surgery, urology, gynecology, ENT surgery, and others. Extended depth of field function permits precise endoscopic observations though continuous broad focus, and continuous auto focus function automatically adjusts focus according to camera head and endoscope movement.
Olympus rolled out the EU-ME3 endoscopic ultrasound processor a month later. Its endoscopic ultrasonography imaging supports diagnosis of lesions in the pancreas, the bile ducts, or lesions located in areas deep in the body not visible with gastrointestinal endoscopes. It also helps visualization of endobronchial ultrasound-guided transbronchial needle aspiration (EBUS-TBNA) for early, minimally invasive diagnosis and lung cancer staging. EU-ME3’s Shear Wave Quantification also provides quantitative info on tumor stiffness and inflammatory lesions.
Therapeutic solutions captured ¥318.2 billion of revenue, growing 15.5% over the prior year. GI-endotherapy witnessed growth mainly in North America and Europe and sales also increased thanks to product groups for endoscopic retrograde cholangio pancreatography. Urology sales were robust in North America and Europe due to steady growth in sales of resection electrodes for benign prostatic hyperplasia and lithotripsy machines for kidney stones. Respiratory products sold well too, mainly in the endobronchial ultrasound-guided transbronchial needle aspiration department.
Olympus earned FDA clearance for the CELERIS single-use sinus debrider last February. CELERIS is used for cutting, coagulating, debriding, and removing thin bone and soft tissue in general ENT and sinus/rhinology procedures—specifically, turbinoplasty, polypectomy, and endoscopic sinus surgery. The 2mm- and 4-mm devices have bipolar capability, and the 4-mm device has a user-bendable tip (up to 60 degrees) to replace multiple blade changes.
The Guardenia contained tissue extraction system for gynecological procedures—manufactured by Advanced Surgical Concepts—reached the market in September. Olympus is the exclusive U.S. distributor of the system, which contains and isolates tissue during or before surgical removal and/or extracorporeal manual morcellation. It’s designed to prevent escape of cells into the abdominal cavity during extracorporeal manual morcellation, and an integrated guard protects against inadvertent damage from surgical instruments around the incision. It can be deployed through a standard 12-mm trocar, under pneumoperitoneum, and with or without vision.
The THUNDERBEAT Open Fine Jaw Type X surgical energy device also launched in September. The hybrid energy device simultaneously delivers ultrasonic and bipolar energy for tissue management—including hemostatic cutting and dissection—in laparoscopic and open surgery. The device is designed for procedures like thyroidectomy or radical neck dissection, which require delicate and fine tissue dissection. A new thermal shield reduces risk of unintended heat damage and a finely curved jaw tip design enabled precise dissection and better visibility.
A few days before the 2022 winter holidays, Olympus began a deal to acquire London-based Odin Vision, a cloud-AI endoscopy company with a portfolio of commercially available computer-aided detection/diagnostic (CAD) solutions and innovation pipeline of cloud-enabled applications. The deal was valued at about $79 million.
Odin Vision’s AI-CAD clinical decision and analytics solutions detect and classify polyps in real-time during the procedure and provide quality measures of the procedure as well as post-procedural analysis. The deal complements Olympus’ Digital Endosuite vision, which envisions use of AI and digital technology to extend endotherapy reach and improve patient care pathways. With Odin’s help, the company aims to establish a platform with a wide range of cloud-connected software solutions built by Olympus and an ecosystem of third-party development partners.
¥881.92 Billion ($6.65 Billion)
Prior Fiscal: ¥750.12 Billion
Percentage Change: +17.6%
R&D Expenditure: ¥75.1B
Best FY23 Quarter: Q4 ¥202.9B
Latest Quarter: (FY23) Q4 ¥202.9B
No. of Employees: 21,898
Global Headquarters: Shinjuku City, Tokyo, Japan
KEY EXECUTIVES:
Yasuo Takeuchi, Director, Representative Executive Officer, and Executive Chairman and ESG Officer
Stefan Kaufmann, Director, Representative Executive Officer, President and CEO
Nacho Abia, Chief Strategy Officer, Olympus Corporation; CEO, Olympus Corporation of the Americas
Frank Drewalowski, Executive Officer and Endoscopic Solutions Division Head
Gabriela Kaynor, Executive Officer and Therapeutic Solutions Division Head
Chikashi Takeda, Executive Officer and CFO
Chief executive changes are nothing new to the Top 30, and Olympus followed this trend last year with the October 2022 announcement that director, executive officer, and chief administrative officer Stefan Kaufmann would become director, representative executive officer, president, and CEO of the company effective April 1, 2023.
Kaufmann replaced Yasuo Takeuchi, who had a four-year tenure at the helm of Olympus and led the company’s recent transformation journey to become a leading global medtech company. Takeuchi oversaw transfer of Olympus’ transfer of the imaging and scientific solutions businesses and its renewed focus on medtech.
“It has been a privilege to lead Olympus through a historic moment for the company,” Takeuchi said in a press release. “With the completion of the groundwork of transformation in the first three years since the corporate strategy was announced in 2019, we can now shift to the next phase to accelerate growth and improve performance. I have full confidence that Stefan will continue this momentum.”
Kaufmann is an Olympus veteran with two decades’ experience in senior roles. He most recently served concurrently as the company’s chief administrative officer, chief strategy officer, and chief transformation officer.
“After years of very successful transformation, we see further opportunities to advance our global operations and processes with a strong focus on elevating the standard of care to benefit our customers and patients,” Kaufmann said in the same press release. “Looking three to five years ahead, our key themes will be innovation, research, and development and inorganic growth, competitive performance, talent development, and sustainability.”
Olympus reported ¥881.9 billion ($6.65 billion) in its fiscal year ended March 31, 2023, rising just over 8% from its previous year’s total. The Endoscopic solutions business accrued ¥551.8 billion in its most recent fiscal year, shooting upward 19.6% year over year. According to the company’s financial documents, gastrointestinal (GI) endoscope sales recovered in China from the lockdown, and sales also grew in North America and Europe. EVIS X1 GI series sales were favorable and demand for previous generation upper GI videoscopes and colorectal videoscopes were also firm. Surgical endoscope sales were also strong.
The redesigned Guide Sheath Kit 2 hit the market in April. The Kit facilitates access to lesion in peripheral lung regions via bronchoscopy with radial EBUS (endobronchial ultrasound). It features a braided wire inside the guide sheath for kink resistance and better flexibility. The kit includes 1.5 mm biopsy forceps and a 1.4 mm cytology brush to collect specimen, and clip-type stoppers to simplify ultrasonic probe/endotherapy device setup and positioning before and during a procedure. According to Olympus, the guide sheath can reach bronchi branches beyond the brochoscope’s distal end to advance endoscopic devices further.
September saw release of VISERA ELITE III, a surgical visualization platform for endoscopic procedures. 3D and infrared imaging functions are integrated from the previous-gen VISERA ELITE II and a 4K imaging function from VISERA 4K UHD as well. It also supports fluorescence-guided surgery and the unique NBI observation mode developed by Olympus. Customized profiles can be developed for general surgery, urology, gynecology, ENT surgery, and others. Extended depth of field function permits precise endoscopic observations though continuous broad focus, and continuous auto focus function automatically adjusts focus according to camera head and endoscope movement.
Olympus rolled out the EU-ME3 endoscopic ultrasound processor a month later. Its endoscopic ultrasonography imaging supports diagnosis of lesions in the pancreas, the bile ducts, or lesions located in areas deep in the body not visible with gastrointestinal endoscopes. It also helps visualization of endobronchial ultrasound-guided transbronchial needle aspiration (EBUS-TBNA) for early, minimally invasive diagnosis and lung cancer staging. EU-ME3’s Shear Wave Quantification also provides quantitative info on tumor stiffness and inflammatory lesions.
Therapeutic solutions captured ¥318.2 billion of revenue, growing 15.5% over the prior year. GI-endotherapy witnessed growth mainly in North America and Europe and sales also increased thanks to product groups for endoscopic retrograde cholangio pancreatography. Urology sales were robust in North America and Europe due to steady growth in sales of resection electrodes for benign prostatic hyperplasia and lithotripsy machines for kidney stones. Respiratory products sold well too, mainly in the endobronchial ultrasound-guided transbronchial needle aspiration department.
Olympus earned FDA clearance for the CELERIS single-use sinus debrider last February. CELERIS is used for cutting, coagulating, debriding, and removing thin bone and soft tissue in general ENT and sinus/rhinology procedures—specifically, turbinoplasty, polypectomy, and endoscopic sinus surgery. The 2mm- and 4-mm devices have bipolar capability, and the 4-mm device has a user-bendable tip (up to 60 degrees) to replace multiple blade changes.
The Guardenia contained tissue extraction system for gynecological procedures—manufactured by Advanced Surgical Concepts—reached the market in September. Olympus is the exclusive U.S. distributor of the system, which contains and isolates tissue during or before surgical removal and/or extracorporeal manual morcellation. It’s designed to prevent escape of cells into the abdominal cavity during extracorporeal manual morcellation, and an integrated guard protects against inadvertent damage from surgical instruments around the incision. It can be deployed through a standard 12-mm trocar, under pneumoperitoneum, and with or without vision.
The THUNDERBEAT Open Fine Jaw Type X surgical energy device also launched in September. The hybrid energy device simultaneously delivers ultrasonic and bipolar energy for tissue management—including hemostatic cutting and dissection—in laparoscopic and open surgery. The device is designed for procedures like thyroidectomy or radical neck dissection, which require delicate and fine tissue dissection. A new thermal shield reduces risk of unintended heat damage and a finely curved jaw tip design enabled precise dissection and better visibility.
A few days before the 2022 winter holidays, Olympus began a deal to acquire London-based Odin Vision, a cloud-AI endoscopy company with a portfolio of commercially available computer-aided detection/diagnostic (CAD) solutions and innovation pipeline of cloud-enabled applications. The deal was valued at about $79 million.
Odin Vision’s AI-CAD clinical decision and analytics solutions detect and classify polyps in real-time during the procedure and provide quality measures of the procedure as well as post-procedural analysis. The deal complements Olympus’ Digital Endosuite vision, which envisions use of AI and digital technology to extend endotherapy reach and improve patient care pathways. With Odin’s help, the company aims to establish a platform with a wide range of cloud-connected software solutions built by Olympus and an ecosystem of third-party development partners.