BUSINESS AREA

Business Area Medtech

In the business area Medtech, the subsidiaries offer medical device products and services in the field of medical technology, as well as assistive equipment for use in home care. Medtech’s offering mainly focuses on publicly funded health services, home care and social services. The business area is primarily active in the Nordic region and the rest of Europe, as well as in Australia to a limited extent.

The subsidiaries in the Medtech business area actively maintain a local presence and awareness, with the total global reach of the Group. Health care today is a matter of national interest that is also part of common and global challenges. Consequently, the need for products and services is essentially similar, regardless of market. The companies offer a broad selection of their own products, products from other suppliers, and a service portfolio consisting of training, support and service. The product line ranges from simple consumables to advanced instruments for surgical procedures, as well as welfare technology, bathroom solutions and various types of assistive technology for fall prevention at home. All in all, the product range requires a solid foundation of medical knowledge to correctly guide customers. In all, 90 percent of sales take place through public procurement procedures.

 

Dynamisk graf: Medtech net sales by market

MEDTECH IN FIGURES

Net sales: 2,061 SEKm
EBITA: 253 SEKm
Employees: 497
Share of net sales: 39%

 
Market trend in 2020

The year was heavily influenced by the COVID-19 pandemic, where health services in all countries demanded extraordinary quantities of medical device products, especially protective equipment. Our subsidiaries Mediplast and Biomedica both received extra orders during the year, outside of framework agreements, for personal protective equipment for health services. Thanks to our strong, long-term supplier relationships, we have been able to offer deliveries under both existing agreements and extra orders. In addition, we have identified new suppliers in Asia where our own quality procedures have ensured that the products meet regulatory requirements and maintain the quality standard that health services expect. The exceptional situation that arose within health services in several countries during the pandemic, with challenges regarding secure delivery chains, product quality, and stockpiled supplies, led to rewarding, in-depth discussions with several of our larger customers regarding challenges and needs moving forward, ahead of future collaborations.
Sales of products for elective surgery have been substantially lower than normal on all markets, for which reason the percentage of proprietary products is unusually low. Since hospitals have dedicated all resources to COVID-19-related emergency and intensive care, queues for elective procedures have grown. It will take a long time for most countries to work through the backlog of patients waiting for care. The trend related to the need for increased safe health care at home continues to be strong. However, several of our companies in home care have seen delays in projects due to restrictions on physical meetings and on-site customer installations during the pandemic. Housing adaptations in particular have been negatively impacted, while larger construction projects have essentially continued as planned. In May 2021, the new MDR will come into force, which will entail stronger requirements for both distributors and manufacturers of products, including more extensive requirements for risk assessment, product safety and documentation, as well as monitoring of the available range.
During the year, product ownership regarding the product portfolio from Wellspect, which was acquired in 2019, was registered and the product line is now approved for sale with our CE-mark. In 2020, five acquisitions were completed in the business area, which together are expected to contribute a total of about SEK 375 million to annual sales.

MEDTECH’S STRENGTHS

    • Broad range of products including both in-house developed products and products from other world-leading manufacturers
    • Highly qualified employees with extensive medical experience, local knowledge and a high level of service, as well as product developers in welfare technology
    • Great flexibility regarding customised solutions, as well as cutting edge skills in public procurement procedures
    • Pan-European distribution and service network for the Group’s own products and services, as well as the products and services of other suppliers
MEDTECH’S PRODUCT SEGMENTS
  • Ear, nose and throat
  • Respiration
  • Intensive care
  • Surgery
  • Wound care
    • Enteral nutrition
    • Fall prevention
    • Welfare technology
    • Bathroom-related assistive devices
    • Assistive devices for children with disabilities
 

Latest updated: 3/31/2021 8:48:40 AM by ellinor.stenhaug@cortinate.se