Annual Report and Accounts 2006 - Optos
Annual Report and Accounts 2006 - Optos
Annual Report and Accounts 2006 - Optos
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A Closer Look at <strong>Optos</strong><br />
where we are, what we do <strong>and</strong> how we do it<br />
Strategy: <strong>Optos</strong> is focused on four strategic goals.<br />
1 2<br />
clarifying<br />
Deepening Penetration in Existing Markets<br />
The Company intends to increase market penetration in its<br />
existing markets by winning new customers <strong>and</strong> increasing<br />
the number of installed P200 devices within these markets,<br />
<strong>and</strong> by increasing the use of the P200 devices <strong>and</strong> the total<br />
number of optomap® Retinal Exams performed within<br />
the existing customer base. <strong>Optos</strong> intends to continue<br />
to both attract new customers through highly targeted<br />
marketing campaigns <strong>and</strong> provide value-added service to<br />
its customers.<br />
Enter into New Markets<br />
<strong>Optos</strong> intends to exp<strong>and</strong> into new, targeted geographical<br />
markets in which it believes that the fundamentals for<br />
growth are most favourable <strong>and</strong> provide for significant<br />
commercial potential. The Company currently operates in<br />
North America <strong>and</strong> Europe with operations in the United<br />
States, Canada, the UK <strong>and</strong> Germany. Pre-market evaluation<br />
is under way in France <strong>and</strong> Spain. Japan has also been<br />
identified as holding significant potential, <strong>and</strong> the Company<br />
has prepared a regulatory submission for filing <strong>and</strong> is<br />
details on timing <strong>and</strong> entry to market.<br />
Competitive Strengths:<br />
Product Differentiation<br />
Our Markets<br />
have very different characteristics<br />
“An optomap® Retinal<br />
Exam can be captured<br />
in a quarter of a second<br />
<strong>and</strong> does not require<br />
pupil dilation.”<br />
<strong>Optos</strong>’ P200 device is its proprietary medical<br />
technology device, which generates the optomap®<br />
Retinal Exam. Unlike conventional ways of looking at<br />
the retina, the P200 device provides a high-resolution<br />
ultra wide-field digital image that encompasses<br />
200 degrees or approximately 82% of the retina in a<br />
single capture. This enables the practitioner to view<br />
a substantial portion of the retina all at once <strong>and</strong><br />
facilitate the early detection of disease from the centre<br />
to the periphery of the retina. These diseases include<br />
age-related macular degeneration, diabetes, glaucoma,<br />
hypertension <strong>and</strong> certain cancers. An optomap® Retinal<br />
Exam can be captured in a quarter of a second <strong>and</strong><br />
does not require pupil dilation, whereas conventional<br />
retinal imaging methods take longer, are more<br />
invasive <strong>and</strong> less patient-friendly. The P200 device has<br />
regulatory clearance to market in North America <strong>and</strong><br />
in Europe. <strong>Optos</strong> believes that the optomap® Retinal<br />
Exam offers healthcare practitioners added diagnostic<br />
capabilities, increased medical underst<strong>and</strong>ing <strong>and</strong><br />
enhanced clinical value.<br />
North America<br />
<strong>Annual</strong> number of eye exams<br />
Total numbers of practices<br />
Number of addressable practices¹<br />
Market characteristics<br />
103m<br />
31,000<br />
20,000<br />
In the United States there<br />
is an established culture<br />
of preventative care <strong>and</strong><br />
patient payment at point of<br />
service. Comprehensive eye<br />
examinations are provided<br />
by either an optometrist or<br />
ophthalmologist <strong>and</strong> include<br />
an examination of the retina.<br />
The Company has determined<br />
that the United States holds the<br />
greatest market potential.<br />
8m<br />
2,000<br />
1,300<br />
The Canadian market is<br />
similar to that of the United<br />
States in that there is a strong<br />
emphasis on <strong>and</strong> awareness<br />
of the benefits of preventative<br />
care <strong>and</strong> wellness screening.<br />
Acceptance levels for patient<br />
payment at point of service<br />
vary in Canada. As in the<br />
United States, in Canada an<br />
eye examination is also carried<br />
out by either an optometrist<br />
or ophthalmologist.<br />
¹ Addressable market defined as practices with potential of at least 100 optomap® Retinal Exams per month.<br />
² Corresponds to private practices <strong>and</strong> does not include NHS/public health bodies.<br />
<br />
<strong>Optos</strong> plc <strong>Annual</strong> <strong>Report</strong> & <strong>Accounts</strong> <strong>2006</strong>