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Working strategically toward a more sustainable medtech industry

Last year, 2016, we published a blog article about our continuous work with Corporate Social Responsibility (CSR) at Elos Medtech. We also introduced our initiative “Energizing Sustainability” which is a part of our efforts to step up our sustainability work. The aim is to provide more value to our customers while minimizing our environmental footprint at the same time. A lot has happened this past year through this initiative. Amongst many other activities, we have established a new vision & mission, which is the basis for our sustainable work.

Vision and mission for more innovative and sustainable medical device products

Taking responsibility for people, environment and society are anchored in Elos Medtech’s way of working and emphasized in our guiding principles and the heart of our culture. Corporate responsibility reflects our vision, mission, and values and supports Elos Medtech’s leadership positions and the broader responsibility that comes with it – responsibility to our customers, to our employees, to business partners, to society, to the environment and to our shareholders.

Corporate responsibility and sustainability involve all parts of a company’s operations. The concepts need to be a guiding principle in every choice made and that requires ongoing investments. Therefore, Elos Medtech has developed a sustainability strategy that is closely aligned with our business strategy. The new vision & mission describes what we strive to achieve and under what guidance we will operate and seek future growth. Our vision of “Transforming Medical Technology and Advancing Quality of Life Worldwide” describes our focus and will for making meaningful changes in the way we do business and in the lives of the people we touch.

The vision goes hand in hand with our new mission: “In partnership with our customers, we provide sustainable, innovative products and supply solutions for the global medical device market. Building profitable, long-term partnerships and striving for excellence in everything we do, our goal is to help people to live rich, active and fulfilling lives.Sustainability, partnership and excellence are main elements of the mission. And also important parts of our business strategy. To create more value for our customers, it is essential to ensure product quality, compliance, improving cost efficiency as well as providing more innovative and sustainable solutions.

3 focus areas for a sustainable organization and customer-oriented business

We have identified several success factors for how to contribute and achieve long-term sustainable solutions for the environment and for our business. These can be summarized in three focus areas: Care for our People, Care for our Business and Care for our Responsibilities.

Care for our People

Care for our People means that we strive for building a culture that promotes our values, relationships and excellence. At Elos Medtech, our people are our greatest asset. They are the ones that make it possible for us to live by our values. Therefore, we are in the midst of an initiative where we are collecting information regarding employee engagement, health and safety at our workplaces, labour practices, diversity and human rights. This information will lay as a foundation for further analysis to identify success factors and objectives to ensure sustainability in this area.

Care for our Business

We are committed to offering innovative and sustainable solutions to our customers. Satisfied customers and lasting customer relationships are essential aspects for us. Being a customer-oriented business helps to create a financially sustainable organization. As a reliable and strategic development and production partner we aim to enhance existing business relations and create new business opportunities. One initiative related to this is to evaluate our customer surveys to ensure that these capture as much valuable feedback as possible. Also, we will put a lot of efforts in turning the customer feedback into positive changes in our solutions and products.  

Care for our Responsibilities

As a global contract & development manufacturing organization (CDMO), Elos Medtech has responsibilities that go beyond supplying high-quality products to our customers. We need to continuously work with aspects such as ethics, compliance and anti-corruption. Also, we have a responsibility toward the environment with regards to our transports, water and energy consumption, the chemicals we use and the waste that we produce. Internal and external communication is another important part connected to this focus area. An example of this is that we will publish our first Sustainability Report for 2017. Elos Medtech will publish a sustainability report during spring time next year, 2018.

We also have a social responsibility for the communities where our facilities are situated. For instance, our subsidiary Elos Medtech Onyx is engaged in various charity activities, internship programs and building a training center to support medical device professionals. We will post more blog articles regarding these activities later on. Stay tuned for that on our Knowledge Blog!  

I hope you enjoyed reading about our latest sustainability efforts. We will be posting more blog articles on the subject ahead. In the meantime, also visit Elos Medtech’s website for more information about our current work with sustainability and the responsibilities we take.