Annual Report and Accounts 2006 - Optos

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