Dunfermline-based retinal imaging device manufacturer Optos has announced plans to expand into France, Spain, Switzerland and Norway following local research and trials.
‘Expanding into these markets fits with our strategic plan and provides a very compelling opportunity to augment the growth that is being driven by our more established European operations in Germany and the UK,’ said Thomas Butts, Optos’ CEO. ‘We will continue to market and distribute directly to customers and will install our retinal imaging devices primarily using our pay-per-patient examination model.’
In France and Spain, Optos intends to generate growth from within the advanced secondary and medical health care market, with a potential market available at 320 retinal specialist locations. The company will progress to an offering within the primary care and wellness market through ophthalmologists operating in private practice.
The company will use its existing German infrastructure to access and support business in Switzerland, where it intends to access a pure ophthalmology market where ophthalmologists carry out primary to secondary and medical care. The immediate addressable market is estimated at 250 private medical practices.
In Norway, the company will leverage its existing UK infrastructure to access and support business in Norway. Norway represents an opportunity for growth in the primary care market carried out by optometrists. The immediate addressable market is estimated at 200 optometric practices. Norwegian-based field staff will lead business development and report directly into the company’s UK business unit.