The company, which has outlets in Scotland and
Norway, saw robust growth in 2008 with revenues climbing 28 percent
in 2008 to reach £85.3 million (€92.3 million), and profits
increasing from £2 million to £4.5 million.
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The rise in sales was partly due to the
success of the company’s Afinion product, which lets medical
professionals conduct diabetes tests in their offices.
Some 2,500 Afinion machines were installed
during 2008, with similar numbers planned for 2009.
Chief executive Ian Gilham said in a recent
interview that Axis-Shield Group’s European customers – who
primarily live in the Nordic markets – are increasingly interested
in leasing options on its Afinion devices. The lease option is
already popular in the Axis-Shield Group’s US markets.
However, Axis-Shield’s UK sales division has
found that British customers have continued to make capital
purchases, due to the relatively robust funding still available to
the company’s primary care sector clients.
Due to this, and to the relatively low cost of
Axis-Shield’s diagnostic equipment compared to larger items, UK
customers had not yet felt the pinch enough to minimise capital
outlay by leasing.
• Axis-Shield is an in vitro diagnostics
manufacturer, with its headquarters in Dundee, Scotland.
• The company carries out research, product
development and manufacturing there, and also in Oslo, Norway.
• Products comprise instruments and test
equipment for use in doctors’ offices, with diagnostic kits
designed for use in cardiovascular and neurological medicine, as
well as for testing arthritic and diabetic patients.
