Revenio Capital Markets Day 2021: The revised strategy focuses on eye care solutions
Revenio Group Corporation is organizing today a virtual Capital Markets Day, which will concentrate on the company's revised strategy that focuses on the clinical eye care solutions. The strategy update does not have an impact on the financial guidance for 2021.
Revenio’s growth strategy focuses on the eye care market. The objective is to improve the quality of clinical diagnostics with targeted product innovations and to transform the clinical care pathways with eye care focused software solutions. Revenio continues to build on iCare brand awareness and enhance the client experience. The company strives to continue strong profitable growth. At the same time, Revenio’s culture and values will be nurtured, and the Corporate Social Responsibility embedded throughout the company.
The cornerstones of the revised strategy are:
- Focus fully on the eye care market
- Improve the quality of clinical diagnostics with targeted product innovations
- Transform clinical care pathways with eye care focused software solutions
- Continue to develop stronger distribution and build on iCare brand awareness and client experience
- Continue strong profitable growth
The CEO of Revenio Jouni Toijala comments:
“The global megatrends are providing us long term eye care market growth opportunities. In our view the demand for global eye care is increasing due to the aging and growing population, along with changing lifestyles. Comprehensive eye care delivery systems are becoming more important due to the increased system costs and resource shortages. Furthermore, the demand for telehealth and remote monitoring across markets is continuing to increase also due to the COVID-19 pandemic. Our mission is to help healthcare professionals and patients reach the next level of eye care. The objective is to continue strengthening our position in the eye care market with innovative, easy-to-use products and software solutions that improve the patients’ eye care pathway experience. Our people worldwide, our uncompromising commitment to quality, sustainable world-class operations, the best channels and partners are the cornerstones for sustaining the profitable growth. The clinical decision support solutions, like the iCare CLINIC that are based on high quality data from our devices and the related software solutions are significantly enhancing the patient eye care pathway and the processes for the professionals. We are extremely enthusiastic and committed to implementing our revised strategy.”
Megatrends are supporting our growth
- Increasing demand for global eye care due to an aging and growing population, along with the changing lifestyles.
- Sustainable eye care delivery systems are increasing importance due to the increased system costs and resource shortages.
- Increasing demand for telehealth and remote monitoring across markets.
The financial guidance for 2021 remains unchanged (published on 11th of February 2021)
Revenio Group Corporation’s exchange rate-adjusted net sales are estimated to grow strongly from the previous year. Profitability is to remain at a good level without non-recurring items.
As Revenio is focusing on eye care market, the company is actively seeking commercial partners for its non-core technologies Cutica and Ventica.
The objective is to continue strong profitable growth
Since 2016, Revenio has been taking market share with a CAGR of approximately 27% revenue growth rate compared to the market growth rate of approximately 4-6%. When eliminating the impact of the Centervue acquisition, the growth rate has been slightly above 13%. Revenio remains committed to continued improvement of its market share on all product lines with the aim of accelerating the organic growth. The company also continues to scan the market for acquisition opportunities to expand its product portfolio within the ophthalmic diagnostics and software solutions.
Revenio aims is to continue to pay a sustainable dividend that does not endanger the parent company’s or group’s liquidity. Revenio plans to keep a strong balance sheet to support any inorganic opportunities that may arise in order to accelerate the profitable growth of the group.
This stock exchange release contains certain statements that are estimates based on the management’s best knowledge at the time they were made. For this reason, they involve a certain amount of inherent risk and uncertainty. The estimates may change in the event of significant changes in general economic conditions.
Capital Markets Day 2021
Revenio invites investors, analysts and media representatives to its virtual Capital Markets Day 2021.
Date: Tuesday 16 March 2021
Time: 13.00 – 16.00 EET (estimated)
The CMD presentations can be followed via webcast at: https://revenio.videosync.fi/2021-03-16-revenio-capitalmarketsday/register. After each presentation, it is possible to ask questions in writing via the webcast platform. All performances will be recorded, and recordings and presentation materials will be available on Revenio's website after the event. The event is in English.
Revenio Group Corporation
Board of Directors
For further information, please contact:
CEO Jouni Toijala, tel. +358 50 484 0085 email@example.com
CFO Robin Pulkkinen, tel. +358 50 505 9932 firstname.lastname@example.org
Nasdaq Helsinki Oy
Financial Supervisory Authority (FIN-FSA) Principal media
The Revenio Group in brief
Revenio is a health tech group operating on the international market and a global leader in ophthalmological devices and solutions. Revenio Group's ophthalmic diagnostic solutions include intraocular pressure (IOP) measurement devices (tonometers), retinal imaging devices, and perimeters under the iCare brand. The main tools for the detection and diagnosis of glaucoma and its monitoring during treatment are intraocular pressure measurement (tonometry), retinal imaging, and visual field tests (perimetry).
The Revenio Group comprises Revenio Group Corporation, Icare Finland Oy, Icare USA Inc., Revenio Italy S. R. L, CenterVue SpA, Revenio Research Oy, Done Medical Oy, and Oscare Medical Oy.
In 2020, the Group's net sales totaled EUR 61.1 million, with its operating profit standing at MEUR 17.1. Revenio Group Corporation is listed on Nasdaq Helsinki with the trading code REG1V.