Therapeutic solutions in the Boston area
In the medical world, Nacho explained that “we now have two large divisions: therapeutics solutions and endoscopic solutions.” Therapeutics solutions is a newly created division located in Westborough, Mass.
“Until being tapped on the shoulder I didn’t understand all of the areas and segments of the markets that Olympus played in,” admitted Gabriela. She joined Olympus in 2016 and is based in the new Westborough office. She previously worked at Johnson & Johnson and Covidien. “We’re playing across multiple specialties … but from a mission perspective we’re looking to deliver profitable and sustainable growth.”
Gabriela has seen this mission play out through the transformation efforts over the last three years. “That transformation effort for us has really been part of looking outside [of the company and] trying to expand beyond endoscopy,” she said. As technologies in other areas advance, Olympus is adopting them and developing alternative solutions. One key area of interest is in single-use products.
Beyond capital equipment
Traditionally Olympus’ focus has been on the endoscopy capital side. But the company is “becoming more agile in the way we develop and commercialize the single-use devices and solutions for our customers,” she said.
R&D is still a component of the business, but “supply chain [management], procurement, partnerships, distribution, and commercialization become the larger perspective,” Gabriela explained. To the last point, she added that the company recognizes a need to provide a more “value-based” commercial approach.
She said the global focus of the company is about “shifting that mentality from working as functional silos.” Five years ago, “we were operating much more as regions” and now there is a cross-functional push, she explained. “That doesn’t come without its growing pains,” but with “great global teams” Olympus continues to evolve, fostered by new talent and new processes, she added.
The Westborough location bolsters top-notch recruitment. “Obviously, Massachusetts is a great area to attract talent” given the number of universities and medical device companies in the Boston area, Gabriela observed. In the bigger picture, “We’re committed to improving our value chain here in the United States and that includes not just the commercial front but every global function.”