Sanoptis operates in a large and resilient sector with steady annual growth driven by structural tailwinds:
- Ageing population increasing age-related ophthalmological conditions
- Resilience resulting from the non-discretionary and typically urgent nature of most treatments
- Healthcare consumerization leading to an increase in out-of-pocket payments (e.g., corrective laser surgeries, presbyopia correcting intraocular lenses)
Sanoptis is the #2 player in Europe (#1 in Germany, Switzerland, Austria and Greece) through its unique business model built on (i) partnerships with its doctors and (ii) a persistent focus on medical quality:
- Sanoptis targets active partnerships with leading doctors who, after joining the group, remain shareholders of their clinics, thus preserving their entrepreneurial spirit and responsibility. This makes Sanoptis a preferred partner for both renowned and up-and-coming doctors wanting to sell a stake in their clinics and practices while also benefitting from future growth. Moreover, this enables the company to consistently outperform in M&A
- The company drives growth and efficiency by sharing best practices and implementing cutting-edge medical innovations through investments in systems, people and equipment
The company has significant upside potential thanks to:
- Continued consolidation of its core markets
- Further rolling out the internationalization strategy in Italy, Spain, Austria and Greece
- New treatment areas (e.g., dry AMD) and higher efficiency through medical and technological innovations (including through leading artificial intelligence projects)
- A skilled management team who significantly reinvested alongside GBL