January 25, 2019
Elos Medtech has identified three focus areas that are critical success factors in our sustainability agenda: Care for Our Business, Care for Our People, and Care for Our Responsibilities. These are the sustainability topics where we have the greatest impact, and thus the greatest possibility to improve the lives of millions of patients. In this blog article series, we will go into detail and describe all three focus areas and what they mean for us, our customers, and the industry. Let’s start with Care for Our business!
Caring for our business means ensuring customer satisfaction and product performance. One way for us to do that is to follow our industry’s rules and regulations. Elos Medtech develops and manufactures medical devices in a highly regulated environment. We hold a certification according to ISO 13485 (quality management system for medical devices) and comply with the requirements of international legislation and product safety standards, such as the United States FDA’s quality system regulations, European Medical Devices Directive and ISO 14971. Our commitment to product performance and excellence also extends to our distributors for our own products, and we ensure that they comply with applicable parts of the regulations.
We want to improve the lives of patients and help people live rich, active and fulfilling lives. To accomplish that, Elos Medtech combines knowledge and expertise to develop the best components and products in partnership with our customers. Our long-lasting and close relationships with our customers, distributors, and business partners have been of great importance for Elos Medtech’s growth and success over the last decades. We have CDMO customers in Europe, Asia, and the US, whereby approximately 30 percent of the customers represent 85 percent of the total sales. To better understand our customers, their needs and preferences, we conduct customer surveys on a regular basis. Customer satisfaction results are also analyzed in a biannual management review, which monitors customer complaints, quality ratings, and delivery performance.
Another way for us to care for our business is to invest in sustainable solutions. Our aim is to invest more than five percent of our investment budget in projects that improve our environmental performance. In 2017, we invested more than seven percent of the budget in a new cooling system and waste heat recovery project at Elos Medtech Pinol in Denmark. The focus of the project was to reduce the amount of cooling required by a new compressor. By recovering the heat from the compressor via a waterborne cross-flow exchanger, the heat can be transferred to a heat pump that utilizes the waste heat to heat up other rooms and water at the premises. By making this investment, we will reduce the site’s energy consumption by 200,000 kWh per year going forward.
We love the medtech industry and care for our business in many different ways. As a trustworthy partner in the medical device business, Elos Medtech is fully committed to knowing and following all relevant laws, rules, regulations, and procedures. We guarantee high product quality through dedication to critical details and we focus on patient safety in both decisions and work processes. That way, we ensure high quality in everything that we do.
The world is changing all around us. To continue to thrive as a business over the next years and beyond, we must look ahead, understand our stakeholders’ needs, trends and other forces that will shape our business in the future. We must get ready for tomorrow today!
I hope this blog article gave you a good insight into how we Care for Our Business. Keep an eye out for our two upcoming blog articles about how we Care for Our People and Care for Our Responsibilities. In the meantime, visit us on our website and talk to us on our social media channels!
Elos Medtech AB
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