/ Case Study
EOS imaging Leverages Altios’ Expertise in Asia Pacific
When EOS imaging expanded in Asia Pacific, the company sought a trusted partner. The Altios team in Singapore provided EOS imaging market insights, and legal and financial support, and guidance on setting up a subsidiary.
When EOS imaging decided to expand its international presence in Asia Pacific, the company knew it needed a trusted partner. Altios developed a two-phase expansion plan for EOS imaging. The Altios team in Singapore provided EOS imaging market insights, legal and financial support, and guidance in setting up the company’s first subsidiary in the region.
EOS imaging is a leader in 2D/3D orthopaedic medical imaging and software solutions for 3D anatomical modelling and surgical planning. Based in Paris, France, the company has international offices in the U.S., Canada, Germany, and Singapore. Employing more than 175 employees worldwide, EOS imaging reported an annual revenue of €35 million in 2018. With a primary focus on the spine, hips, and knees, the company targets the $2 billion annual market opportunity. With more than 300 system installations in 30 countries, EOS imaging generates one million patient exams annually.
In 2008, EOS imaging installed its first systems in Europe and North America. By 2012, the company became a publicly traded company on the Euronext Paris (EOSI) exchange. To further its international growth, the company decided to move into the Asia-Pacific market following an initial sale in Singapore. “Singapore was an ideal location to expand into the Asia-Pacific region as it provided the perfect platform to showcase our technology and solutions,” said Anne Renevot, Chief Financial Officer of EOS imaging*. The high-growth potential of the region meant the company needed to determine the best approach in its expansion strategy in the region. EOS imaging turned to Altios for its development in the Asia-Pacific region. “For our initial entry into the market, we did not have the local expertise required to set up our first sales offices,” said Renevot.
In 2013, EOS imaging partnered with Altios to identify and to implement the best structure for their launch in the Asia-Pacific region. The Altios team in Singapore brought to EOS imaging in-depth market knowledge and expertise in legal, financial, and human resources. To minimise risk and reduce initial investment requirements, Altios recommended a phased approach to market entry. Through a close working relationship with Altios on the project, EOS imaging decided to set up a sales office in Singapore. Altios’ local team handled the administrative and legal requirements, while also hiring EOS imaging’s first employee in Singapore. The lean structure provided the company with its office in Singapore before engaging in a more substantial investment. By 2015, EOS imaging was ready for the second phase of development in the region. Working with Altios, the company set up its first Asia-Pacific subsidiary in Singapore. Altios’ on-the-ground team in Singapore provided the legal and financial expertise and talent search for the new subsidiary. “The Altios Singapore team supported us throughout the project,” commented Renevot.
The two-phase approach provided EOS imaging the knowledge and time to learn and build its presence in the Asia-Pacific region progressively. By ultimately opening its first subsidiary in Singapore, EOS imaging can reinforce its presence in the region. The EOS imaging team in the Singapore office handles talent acquisition for its sales and equipment maintenance requirements, and Altios manages the running of the subsidiary.
We intend to develop further our investments in the region. Altios is a trusted partner and has been instrumental in our initial expansion in the region. Their knowledge of the markets and expertise in the legal, regulatory, and financial environment in Singapore made the project a success for us.
Chief Financial Officer of EOS imaging during the project
EOS imaging is a leader in 2D/3D orthopaedic medical imaging and software solutions for 3D anatomical modelling and surgical planning. Based in Paris, France, the company has offices in the U.S., Canada, Germany, and Singapore.
The company wanted to determine the best way to expand its operations in the Asia-Pacific region.
Altios developed a two-phase expansion plan for EOS imaging. First, a sales office was set up, and later, a subsidiary in Singapore.
The two-phrase approach provided EOS imaging with knowledge and time to learn and build its presence in the Asia-Pacific region progressively.