Agfa-Gevaert will be investing aggressively in R&D and acquisitions, according to new CEO and chairman Ludo Verhoeven. The Mortsel, Belgium-based company said these initiatives will be focused mainly on digital technology.
Agfa said it will finance this investment plan through its own resources, which will be released through an efficiency plan. Agfa hopes to achieve a substantial increase in its annual cash flow along with a drastic reduction in working capital. In 2001, Agfa expects a 3% decline in sales, but a 10% rise in net income compared with 2000.
Agfa's medical imaging group, the most profitable for the company, hopes to become a leading hospital imaging and informatics provider. To that end, Agfa will expand not only in radiology, but also in other specialties, such as cardiology, pathology, ophthalmology, and oncology, according to the vendor.
The division said it will also focus on the hospital information systems market, building on the position of its Impax PACS product line. Agfa has taken steps in that direction through its recent acquisitions of radiology information systems firm Quadrat and speech recognition provider Talk Technology.
By AuntMinnie.com staff writersJune 27, 2001
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