Optomed Plc
Annual Reports

YEAR 2020

Optomed in brief

Optomed is a Finnish medical technology company and one of the leading providers of handheld fundus cameras and screening software.

Optomed combines handheld fundus cameras with software and artificial intelligence, with the aim to transform the diagnostic process of blinding eye diseases such as rapidly increasing diabetic retinopathy. In its business, Optomed focuses on fundus cameras and software solutions related to R&D in Finland and sells its products globally in over 60 countries with various sales channels. The company has an extensive portfolio of 56 international patents protecting the technology. In 2020, Optomed’s revenue reached EUR 13 million and at the end of the year the company employed 109 professionals.

CEO REVIEW

Exceptional year 2020

“Despite the challenging year, Optomed maintained its strong financial position and the ability to meet the demands of the recovering market. The implementation of our strategy progressed, and we reached numerous important milestones. Our camera sales channel structure changed from OEM-driven to being more focused on Optomed branded products via our direct sales teams and distribution network. In addition, our international solution sales, and new, alternative sales channels, such as online selling, have been successfully launched in many of our key markets.”

Seppo Kopsala
CEO

Key figures 2020

Net sales 2020

13.0

EUR, million

Gross margin

68.8

%

Adjusted EBITDA

-0.7

EUR, million

Equity ratio

64.6

%

BUSINESS MODEL

Complete solutions for eye screening

Optomed combines handheld fundus cameras with software and artificial intelligence for image analysis and we sell our products and solutions via three sales channels globally. Our sales channels include our direct sales team, our global distribution network of around 55 partners, our OEM-customers as well as our complete eye screening solution sales organization.