“Elekta showed resilience and delivered growth throughout the year, but our margins were pressured by the current challenges in the global supply chains.
President and CEO
In June, 2021, Elekta and Royal Philips signed a non-exclusive agreement to deepen their existing strategic partnership. Through deeper cross-portfolio collaboration, Elekta and Royal Philips will utilize their complementary capabilities to further improve patient care. The partnership also intends to further deliver a superior experience in diagnosis and adaptive, personalized treatments for clinicians, shorter treatment times and more precise therapy for patients, and lowered care costs for healthcare providers.
To improve market access and strengthen the relationship with customers Elekta has established presence in markets in which Elekta previously have been represented by distributors. A sales office was established in Indonesia in August 2021 and in the Philippines in February 2022. In Turkey the long-time partner, Özyürek Mümessillik ve Dış Ticaret A.Ş., was acquired in September 2021.
In April, 2022, Elekta and GE Healthcare signed a global commercial collaboration agreement in radiation oncology to be able to provide hospitals a comprehensive offering across imaging and treatment for cancer patients requiring radiation therapy.
In December, 2021, Elekta issued Sweden’s first sustainability-linked bond with a pure social key performance indicator. The funds, SEK 1.5 billion, will contribute to closing the global access gap within radiation therapy through increasing the number of linear accelerators in underserved markets.
In March, 2022, Elekta entered into a collaborative agreement with IBA to optimize quality assurance (QA) solutions.
In October, 2021, Elekta received an investment Grade (IG) rating from S&P Global Ratings (S&P). S&P has assigned a BBB- rating to Elekta and to the Group’s senior unsecured notes, with stable outlook. S&P notes that Elekta’s rating reflects the global leading position, ability to introduce new innovative treatment solutions and the key credit strengths being low leverage and stable cash generation.
Elekta’s strategy provides the framework for our pursuit of profitable growth in a sustainable way and is quantified in the financial outlook 2024/25.
Net sales
>7% CAGR
EBIT margin
expansion
Dividend
≥50%
of annual net income
Availability of care
+300 M
people in underserved markets to get access via Elekta's installed base
Elevation of care
2x to 4x
2x clinical usage of hypofractionation
4x usage of adaptive
treatments
Participation of care
+20%
increase of engagement among our customers' patients via an Elekta-powered tool
The need for cancer care is growing globally. Radiotherapy plays an important role in treating cancer but is currently underused, especially in low- and middle-income countries where access to equipment is lacking. Elekta has a strong global market position and keeps expanding into new markets.
Elekta's global market share
The world’s population is increasing and ageing. With the 65+ cohort expected to increase by almost 80 percent by 2040, cancer incidence will increase. The World Health Organization estimates new cancer cases will grow from an estimated 18 million cases in 2020 to 28 million new cases in 2040.
As survival rates have improved over time, more people are living with cancer as a chronic condition. This increases the risk of oligometastatic disease. As a non-invasive treat- ment option, radiotherapy plays an important part in treating oligometastases, adding both years to life and life to the years.
There are large structural differences in cancer care and the availability of radiotherapy between countries and regions. While 50–60 percent of all cancer patients need radiotherapy treatment, 40–60 percent of them lack access. Investments in radiotherapy capacity in low- and middle-income countries would save lives and lead to substantial economic benefits.
Medical science and technology continue to advance, creating new possibilities for tailored and better targeted treatment for patients. In radiotherapy, advances in imaging, for example the launch of MR-Linacs, expands the potential use of radiation treatment to more cancer types and enables lower-margin planning, online adaptive treatment and hypofractionation – a treatment plan where the planned radiation dose is delivered in five treatment sessions, so-called fractions, or less.
Aging populations and more treatment options will lead to increasing costs for healthcare systems. As a result there is a clear trend in all markets, regardless of reimbursement system or financing model, to align economic incentives with quality of care and to focus on cost efficiency and productivity. This benefits cost-efficient treatments such as radiotherapy, and within radiotherapy more productive treatment plans such as hypofractionation.
More treatment options and workflow complexity across most
healthcare disciplines increases the need for digital decision support for clinicians,
and workflow
management tools for clinics. In addition, oncology and radiotherapy
are data-intensive disciplines that are well-suited to reap the benefits of AI-supported
automation tools and big-data analysis.
Tying data from different workflows
together
into integrated solutions will benefit both precision and productivity in cancer
care.
Elekta’s strategy, ACCESS 2025, is built around four main strategic pillars that shall drive sustainable profitable growth and create the next generation treatment, workflows and customer engagement models.
We will continue to invest in innovation, both in hardware and software, to keep driving the category of precision radiation medicine forward and to develop new solutions that help customers elevate standards of cancer care. We keep innovating with implementation in mind to drive faster adoption in the market while also advancing functionality.
We believe that cancer care is best elevated by bringing together the expertise across the entire network. We also believe that there is no one solution to fit all and customers will need tailored solutions to fit their needs. And as the only independent radiotherapy provider of scale, we have an important role to play to ensure interoperability so that our customers and their patients can enjoy best-of-breed solutions across the cancer care continuum.
We want to be the preferred and most trusted partner to our customers throughout the lifecycle of our solutions. We will therefore continue developing our service offering as well as new business models so we can build stronger relationships with our customers.
To make sure that patients really do get access to the best cancer care, we will continue to drive market adoption. Initiatives under this focus area include both optimizing our local presence in each market and working with governments on, for example, reimbursement rates.
more people with access to
radiotherapy since 2019/20
Elekta’s vision is a world where everyone has access to the best cancer care. Working to realize this vision while taking our social and environmental responsibility is integral for the long-term success of our company and for building a sustainable future for society.
Elekta offers leading radiotherapy treatment solutions and complete oncology informatics solutions for comprehensive oncology departments. With innovations that both elevate and expand access to care, we contribute to easing the global cancer burden.
Decision support tools that improve access
and elevate
care
For more than 30 years our leading oncology information system has helped
clinicians connect with patients and improve treatment outcomes. The right software
tools will raise the standard of care and run clinics operations more
efficiently.
Read more
Shifting the paradigm and optimizing workflow
Elekta
offers a complete range of linac solutions that both elevates the standard and expands
access to care.
Read more
Shifting the paradigm and optimizing workflow
Elekta
offers a complete range of linac solutions that both elevates the standard and expands
access to care.
Read more
Shifting the paradigm and optimizing workflow
Elekta
offers a complete range of linac solutions that both elevates the standard and expands
access to care.
Read more
Shifting the paradigm and optimizing workflow
Elekta
offers a complete range of linac solutions that both elevates the standard and expands
access to care.
Read more
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Our service offering plays an integral part in the value that Elekta and clinicians provide for patients, directly via maintenance and repairs that keep the machines going. With preventive maintenance, clinical downtime can be minimized, making it easier for clinicians to keep their schedules and treat more patients on time.
Like many, Florencia Escobar enjoys the small things in life.
Relaxing and enjoying these moments after receiving cancer treatment – in Florencia’s case
external beam radiotherapy and brachytherapy for stage III cervical cancer – can be challenging.
Florencia has the support of Elekta’s software application, Kaiku, to help her cope. “The Kaiku
app really gives me peace of mind regarding symptoms and my own follow-up,” she says.
Using
her phone or tablet, Florencia answers questions and reports her symptoms in the app so that her
medical team can follow her condition and schedule follow-up meetings if necessary.
Wayne Crawley, 73, led a relaxing life, spending his time on his
hobbies and family when he was diagnosed with prostate cancer. After some searching, he found an
oncologist at a cancer center in New Jersey that he connected with.
With
the treatment options explained to him, Wayne opted for radiotherapy on the hospital’s new
Elekta Unity MR-Linac.
“I understood this was the latest and greatest system, and it’s
proven true,” Wayne says.
And the side-effects from the treatment have been
minimal. “I was visiting the bathroom a little more frequently for the first one or two weeks,
but other than that, nothing,” he says.
When it was time for a cancer clinic in France, to upgrade one
of its two linacs in 2021, they opted for Elekta Harmony Pro.
“We had
significantly improved our volume or cancer cases over the last four years, but we knew that a
linac like Harmony would allow us to treat even more patients,” says Dr Vivien Fung, radiation
oncologist at the clinic.
“Plus, it would give us more capacity to meet the increasing
demand for hypofractionation.”
The clinic’s data show that setup time on
Harmony is about 20 percent lower than on conventional linacs, but the clinic thinks they can
improve further.
The Sidney Kimmel Cancer Center (SKCC) in Philadelphia, was the
first clinic in North America to acquire Elekta Studio, which includes ImagingRing, a mobile CT
scanner for brachytherapy.
“This state-of-the-art, mobile-CT technology
brings real-time imaging directly to the patient, thus reducing the amount of time each
procedure takes, while improving treatment accuracy and enhancing patient safety,” says Dr
Pramila Rani Anne, Director of Clinical Operations, Department of Radiation Oncology.
The complete Annual Report with Elekta’s financial, sustainability, governance and remuneration information can be downloaded below.
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