Optos has continued to grow its number of installed Daytona devices and developed two more products capable of shrinking the cost and size of retinal imaging while improving technology.
Presenting its full year results this week, the Scottish retinal imaging company expected its new California and Lotte OCT/UWF products to be commercially available next year.
The space-saving devices helped the company further penetrate the ophthalmology market, while Daytona sales to optometry settings continued to grow.
During the 2014 financial year, Optos secured 1,536 new Daytona customers compared to 1,271 in the prior year. Major wins include partnerships with Black & Lizars, Lenscrafters stores in the US and an agreement with Grand Vision to supply its practices in Finland and Norway.
Financially, Optos has also managed to meet a lower manufacturing target cost for Daytona of $15,000, and estimates that 60-70 per cent of UK customers now buy the device outright.
The three devices of Daytona, California and Lotte represented a transformation in Optos’ range, replacing larger devices needing crates to transport and costing three times as much to build.
Optos CEO Roy Davis told Optician: ‘This shows the evolution of the company from large devices to small devices over the years. Because they are smaller you can get them into a lot more places.’
He noted space was often more of an issue in UK practices than it was in Optos’ main market of the US, although the company’s UK revenues dipped overall last year.
However, Optos had a record year for sales into the NHS and Davis expected the company’s new devices to be a hit with both ophthalmology departments and optometry practices delivering local eye care services. He said patients in Australia and the US were happy to pay extra for wider eye health checks and expected UK patients to follow suit.
For the financial year ended September 30, Optos posted a 7 per cent rise in total revenue to $170.6m, while profit after tax increased to $8.5m from $6.4m in the prior year period.
‘With the continuing growth in our existing business, underpinned by an increasing body of supportive clinical evidence as well as the upcoming launch of new products, we are confident that the company is well placed to drive customer growth, continued improvements in profitability and sustainable cash generation in FY15. We remain excited by the prospects for our future,’ added Davis.