C-RAD has released its strategy for further growth, including a measure to strengthen the sales force in key markets. Five persons will be added to the sales organization over the next 12 months.
C-RAD has defined its financial targets, with a goal of growing by 50% a year through 2017. As part of its strategy to achieve this target, C-RAD will strengthen its sales force with five persons. The direct sales department will thus grow from currently eight persons to 13. The expansion will be focused on the US market, the German-speaking countries and Asia.
During 2014 orders in the US market increased by 120% over 2013 levels. This market offers more than 2700 radiotherapy centers as potential customers. The strategy aims to strengthen the organization in the US Midwest and South. An additional management position will be created to run the sales and service operations in the US.
With its approximately 300 radiotherapy centers, Germany is the largest market within Europe. In 2014 the German-speaking countries contributed 1.6m EUR in orders, making it the strongest region in total order intake. One additional sales person shall be added to the sales organization there. A dedicated service engineer started his position on February 1, 2015.
In Asia, C-RAD works primarily through distributors. The sales manager responsible for Asia is currently based in Shanghai. As part of the new strategy, one additional person will be employed to focus on supporting the sales force of our Chinese distributor. The current sales manager will put his focus on sales to important markets outside China that C-RAD already serves, but also new markets, such as Japan and Australia.
A strong service organization is part of a successful sales expansion. In the key markets of Germany, France, Scandinavia and the US, C-RAD currently has its own service engineers. Other parts of the world are either covered by our mobile engineers or by the growing service force located at C-RAD local distributors.
“We have carefully analyzed the reasons for our successful development over the last few years. One driver is the efficiency of our direct sales model,” says Tim Thurn, CEO of C‑RAD. “We have decided to make a good thing even better. C-RAD has shown that there is a strong interest in our current products. The future success of the current product portfolio will depend on the efforts we put into our sales organization. I am optimistic that with the implementation of the strategy we will achieve our ambitious targets.”
About C-RAD
C-RAD develops innovative solutions for use in advanced radiation therapy. The C-RAD group offers products and solutions for patient positioning, tumor localization and radiation treatment systems. End users are radiation therapy clinics worldwide. All product development is conducted in three fully owned subsidiaries: C-RAD Positioning AB, C-RAD Imaging AB and C-RAD Innovation AB, all of which are located in Uppsala, Sweden. Employees currently number 30. C-RAD’s business originates from research and development at Karolinska Institutet in Solna, Sweden. Sales of the company’s first product, the C-RAD SentinelTM, started in 2007. Cooperation agreements have been signed with Elekta (Sweden), Varian (USA) and IBA (Belgium). C-RAD is represented by distributors specialized in radiation therapy on major markets. C-RAD has established three companies for direct sales: C-RAD Inc. in the US, C-RAD GmbH in Germany and C-RAD WOFE in China. C-RAD holds 29% of the shares in laser company Cyrpa with an option to acquire the remaining 71%. C-RAD AB is listed on NASDAQ Stockholm.
For more information on C-RAD, please visit www.c-rad.com.
For further information:
Tim Thurn, CEO C-RAD AB, Phone +46-18-666947, Email investors@c-rad.com
The above information is price-sensitive and must therefore be disclosed under the Securities Market Act (2007:528).
