Since 2013, ALTIOS International, the leader in international business support, has supported EOS imaging in its development into the Asia-Pacific region. This year, EOS imaging has taken a new step with the creation of a subsidiary in Singapore. ALTIOS has brought to EOS imaging all its expertise and knowledge of the market through its local Singapore office to accompany it in this project.
2013, Set-Up of the First Office in Asia
Created in 2005, EOS imaging develops and distributes a 3D medical imaging device that revolutionises the treatment process of osteoarticular diseases and their associated orthopaedic surgeries. Since 2008, this French firm (headquartered in Paris) makes most of its sales internationally. After Europe and North America (which is now its main market), EOS imaging achieved its first sales in Asia Pacific in 2012.
The first sale in Singapore was an opportunity for management to think about setting up a subsidiary in this market due to the high potential. Anne Renevot, CFO of EOS Imaging states: “Singapore has been a good option for us: it is an important showcase for medical technology, but it is also an ideal location to expand into the Asia-Pacific region”.
In 2013, EOS imaging calls upon ALTIOS International to identify and implement the most appropriate structure in Asia Pacific. ALTIOS is mandated for the first time by its local subsidiary in Singapore. Its presence, in the heart in the country, enables ALTIOS to bring its local knowledge and expertise for the legal, financial and HR aspects of the project.
ALTIOS International first proposed to setting up a representative office and assisted EOS imaging in recruiting its’ first employee in Singapore. This lean structure allowed EOS imaging to have its first address in Singapore before engaging in a larger investment that comes with the creation of a subsidiary. ALTIOS International undertook the administrative and legal aspects for which EOS imaging had no experience. Anne Renevot points out that “(they) do not see the appeal of setting up internally the services offered by ALTIOS which necessitate an expertise that cannot be improvised”.
Long-Term Support, Adapted to the Development Stage of the Group
After this first step, the development of EOS imaging continued in Asia Pacific. ALTIOS Singapore’s Director, Stéphane Benoist, was appointed in June 2015 to assist the group in its second stage of development: opening a local subsidiary. Having their own structure enabled EOS imaging to reinforce its Asia Pacific presence. New employees are recruited by EOS imaging enabling them to ensure its sales development as well as the maintenance of its equipment in Asia Pacific, with ALTIOS International continuing to manage the subsidiary.
A Long-Term Collaboration
Stéphane Benoist, Director of ALTIOS International’s Singapore subsidiary, was the main contact during the support of EOS imaging. Anne Renevot concludes: “We were very happy to have met Stéphane, he supported us perfectly during our project. We intend to develop our investments in Asia Pacific and we will definitely continue our collaboration with ALTIOS, a valuable partner that ensures our expectations are met through their know-how and their knowledge of the legal, regulatory, and financial environments of Singapore”.