Modulight in brief in brief

Modulight Inc. is a leading laser technology company that designs and provides lasers and solutions for medical and biomedical applications as well as for selected high value-added niches. Company offers related equipment, software and services to medical technology companies and target markets around the globe. Modulight's products are used worldwide by many Fortune 500 companies, pharmaceutical companies, and leading cancer centers and universities. Modulight's revenue was EUR 10.1 million in 2020, increasing by 40 percent from the previous year. The Company's EBITDA in 2020 was EUR 5.8 million and the EBITDA margin was 58 percent. Modulight was founded in 2000, it employs approximately 70 people and is headquartered in Tampere, Finland.

Modulight has over 20 years of experience in designing and manufacturing lasers and optics for both medical and other applications. Several experienced laser professionals have been working in the company since its incorporation in 2000 and the company is also supported by a number of international medical advisors. Modulight has accumulated its technological process know-how during its more than 20 years of existence and in the company's view, its strong experience and expertise in laser technology is Modulight's key competitive advantage. Modulight is also able to utilize its valuable experience through its laser chip fabrication plant, enabling the customization of laser chips to meet precise client requirements and facilitating the company’s ability to cover the entire value chain from product design to life cycle management of its lasers. 

Modulight utilizes a cloud-based device and service management model, which is designed with focus on service scalability and improvement of treatment efficacy. The company controls the laser equipment and performs treatment planning and monitoring on cloud.modulight.com, the Company’s cloud-based platform database. A key benefit of the cloud-based service is considered to be the treatment efficacy improvement enabled by combining and analyzing data from different treatments and hospitals. The cloud-based model also facilitates a number of value-adding services such as remote diagnostics and support, preventive maintenance and calibrations. 

Modulight has a strong client base, as its high-quality offering has attracted the attention and demand of some of the leading names within the fields of medicine, optics and industrial applications. Modulight provides its biomedical lasers to several top universities in the United States and many well-known cancer centers in the United States are also long-term repeat customers and partners of the company. Modulight is also an exclusive supplier of Visudyne® lasers to global eye health products company Bausch Health Companies Inc. Within optics and other industrial fields, the company’s clients include for example Hewlett Packard Enterprise Company and Vaisala. The company believes that the trust of the well-known players within its primary focus industries is a testament of the company’s unique expertise and successful reputation as a trusted partner.

The medical industry offers Modulight a significant market opportunity, supported by synergistic opportunities in industrial applications. The number of people at the age of 65 or older is expected to increase by 120 percent globally during the period between 2019 and 2050.  According to the US National Cancer Institute, the incidence rates of cancer cases increase significantly with age; from 20 cases per 100,000 people under the age of 20 to approximately 2,000 cases per 100,000 people at the age around 65 or older. The size of the global oncology market is estimated at approximately EUR 144 billion and is expected to grow by 9.5 percent annually between 2019 and 2030. A certain metaresearch based on several publications notes that chemotherapy based on drugs is ineffective for approximately 75 percent of patients in the treatment of cancer and on the other hand, personalized medicine accounts for more than a third of new FDA approved drugs, highlighting the need for new and personalized therapies. There are currently also several indications with a very poor prognosis in the field of oncology for which better treatments are being developed, such as e.g. pancreatic cancer, liver cancer and glioblastoma.

Apart from medicine, Modulight sees synergistic opportunities for its technology also in other specialized applications, mainly within communications and digital press.

Historically, Modulight has achieved strong annual growth of revenue. The company’s revenue increased by 39.9 percent during 2020, 16.5 percent during 2019 and 30.5 percent during 2018. The company’s operating result margin was 46.8 percent during 2020, 40.8 percent during 2019 and 39.6 percent during 2018.