Other headlines:Sectra grows despite economic downturn
A joint venture between Toshiba and Infinitt North America will target the Korean marketplace with Toshiba medical equipment. TI Medical Systems (Toshiba-Infinitt Medical Systems) was announced May 19, about 10 weeks after the two companies formally agreed to the deal. Their agreement assigns TI Medical Systems exclusive distribution rights for Toshiba medical equipment throughout South Korea. Charles Ju, the former CEO of BarcoView Korea, will run the new company as CEO. TI Medical Systems will handle service as well as sales.
IT and medical technology company Sectra has reported a net sales increase for fiscal 2008 of 16.2% to 863.3 million Swedish krona (SKr) ($112.9 million) compared with the preceding fiscal year. The group's order bookings rose 13.1% to SKr 1149.7 million ($150.4 million). Profits dropped, however, to SKr 71.4 million ($9.3 million) from SKr 79.8 million ($10.4 million) in the preceding year.
Last year's gains were propelled by fourth-quarter performance, during which Sectra's net sales rose 17.5% to SKr 263.7 million ($34.5 million). Profit was SKr 7.4 million ($1 million), down substantially from SKr 42.3 million ($5.5 million) a year earlier. Order bookings in the quarter increased 31.2% to SKr 207.7 million ($27.2 million). Markets outside Sweden accounted for 70.2% of the group's sales during the year, up from 66.8% in the previous fiscal year. The mammography products division experienced the largest growth from fiscal 2008 to 2009 of any medical part of the group, increasing 50%, according to the company.