Company Information
Optos is a leading medical technology company for the design, development, manufacturing and marketing of retinal imaging devices. Retinal imaging is an important tool for the screening and diagnosis of eye problems, such as retinal detachment, glaucoma, cataracts, retinal holes/retinal tears and age-related macular degeneration, it can also indicate evidence of non-eye diseases, such as diabetes, hypertension and certain cancers.
Optos’ platform technology is the Panoramic200 Scanning Laser Ophthalmoscope device – the Panoramic200.
The Panoramic200 produces a high resolution image – optomap® – of up to 200 degrees or approximately 82% of the retina in a single capture which takes a quarter of a second. Optos believes that its technology provides an unequalled combination of wide-field retinal imaging, speed and convenience for both the practitioner and patient.
Routine retinal examination methods provide only a limited, narrow-field view of the retina, typically less than 5% in a single capture. Such examinations can therefore miss eye and non-eye disorders or diseases, including those in the periphery of the retina, where many indicators of such diseases and precursors to eye conditions are often first exhibited. Typically, to capture a greater percentage of the retina using traditional methods, the patient’s eye must be dilated, which can cause patient discomfort, and multiple images of the retina must be taken, at additional cost and time to the practitioner.
Examination of the retina forms part of a comprehensive eye exam. Optos estimates that approximately 160 million such examinations are performed annually in the company’s existing markets. The company’s objective is to have eye care practitioners perform an optomap® Retinal Exam as part of every comprehensive exam and estimates that this market represents a recurring global US$2 billion annual opportunity.
Revenue increased to US$86.8 million for the year ended 30 September 2007, up from US$67.7 million for the same period in 2006 representing an increase of 28%. Operating profit before share-based payments was $9.8 million for the year, up by 52% over $6.5 million for the year ended 30 September 2006. Operating profit after share-based payments increased by 50% from $4.3 million to $6.5 million. The Group made a transition into profits with $1.6 million profit before tax versus a loss of $1.1 million in 2006.