08 June 2021 | Tuesday | News
At Elekta's (EKTA-B.ST) Capital Markets Day, CEO, Gustaf Salford, and members from his executive management team introduced the company's mid-term strategy, called Access 2025. The strategy reflects the work the company will continue to do to pursue the vision of a world where everyone has access to the best cancer care.
Gustaf Salford said that he wanted to see more than 300 million people with cancer gaining access to radiation therapy, an integral part of most cancer treatments. The identified clinical need for linear accelerators (linacs) globally is around twice the number of the current installed base (14,000 linacs) and the gap is largest in emerging markets. Although these countries comprise 85 percent of the global population, they only have 40 percent of the total installed base of radiation therapy devices. Nevertheless, Elekta has a strong position in emerging markets and continues to grow, offering more patients greater hope for better outcomes.
Ensuring that equipment reaches the patient is just the beginning of the solution. Elekta's new strategy will also address improving radiation therapy technology and advanced techniques such as hypofractionation and adaptive treatments. At the same time, data, in the form of oncology informatics, will enable patients, as well as their care teams, to influence and improve their outcomes.
The Access 2025 strategy is built on four pillars: innovation, partner integration, customer focus and driving adoption of radiation therapy across the globe, reflecting Elekta's vision to create a world where everyone has access to the best cancer care. These are supported by reinforced Environmental, Social and Governance (ESG) goals.
Maurits Wolleswinkel, President Linac Solutions & Chief Product Officer, expanded on Elekta's innovation strategy. He highlighted its development of a comprehensive digital software transformation program, formation of strategic partnerships and doubling of Elekta's AI efforts. He added that the efforts will be supported by an increased investment in innovation in the coming years.
Related to this innovation strategy, Gustaf Salford announced a strengthened partnership with Philips to develop solutions that streamline the path from cancer diagnosis to survivorship, resulting in better patient outcomes. (see press release: Elekta and Philips extend strategic partnership in precise and individualized oncology care)
CFO, Johan Adeback, concluded the Capital Markets Day with a financial overview, stating that Elekta continues to show growth. He explained the financial impact of the new strategy driving Elekta's mid-term guidance of a compound average net sales growth rate of more than seven percent until 2024/25, as well as an improved EBIT margin.