Canon USA Inc. announced that it has established the biomedical department "Canon BioMedical". Canon BioMedical, the global headquarters of the company's biomedical business, is a wholly owned subsidiary of Canon USA.
This is not the first digital camera manufacturer to be optimistic about the medical technology market. Nikon announced last week that it would acquire Optos, a British manufacturer of retinal imaging diagnostic instruments, for $400 million. Nikon plans to integrate its image processing technology with Optos products and exclusive technologies to develop high-precision diagnostic equipment.
As for Canon, the newly established BioMedical will be responsible for the development, manufacturing and marketing of Canon's life sciences and molecular diagnostic platforms. At the same time, it is also responsible for expanding other applications of Canon technology in the medical field.
Canon USA is primarily responsible for selling Canon products in the United States, Latin America and the Caribbean. Canon's global revenue in 2014 was approximately $31 billion, down 0.1% year-on-year.
Joe Adachi, chairman and CEO of Canon America, said in a statement: "We want to provide Canon's technology to doctors and scientists around the world to help them improve their health."
At present, office equipment is Canon's largest revenue source. Last year's revenue was $17.3 billion, a year-on-year increase of 3.9%. The imaging system is the second largest business, with revenues of $11.2 billion last year, down 7.2% year-on-year.
Last year's medical equipment sales were $3.3 billion, up 6.4% year-on-year. But overall, the medical device business lost $182 million because Canon invested heavily in research and development in the next generation of technology.
Toshizo Tanaka, executive vice president and CFO of Canon, said: "As for medical devices, sales of new digital radiography systems (including wireless still image modules and motion picture modules) have grown steadily and have driven overall sales growth. In the medical market, Canon will accelerate research and development and focus on emerging areas with potential, such as photoacoustic imaging."
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