KARL STORZ receives the Frost & Sullivan Award “Asia Pacific Endoscopy Company of the Year”

13/10/2011 | Our company

Frost & Sullivan has chosen KARL STORZ as the recipient of the 2011 Asia Pacific Endoscopy Company of the Year award which will be presented on October 13th in Singapore. KARL STORZ receives the award based on achievements in growth strategy, innovation in business processes and products, and leadership in customer value.

The Asia Pacific Endoscopy Company of the Year Award is bestowed upon the company that has emerged as a significant participant within the Endoscopy market. KARL STORZ is perceived by the independent Frost & Sullivan analysts to exhibit outstanding management, superior market and revenue growth, exceptional customer service and the ability to combine technology and successful strategic initiatives. The award recipient KARL STORZ reflects furthermore proven excellence in taking advantage of market changes by capturing and solidifying market presence and through execution of innovative strategies within the existing competitive landscape.

Frost & Sullivan analyzed companies’ efforts based on their achievements in Growth Strategy, Growth Implementation, Degree of Innovation with New Products and Technologies, Leadership in Customer Value and Leadership Market Penetration. After extensive secondary and technology research combined with interviews with all market participants, Frost & Sullivan announced KARL STORZ as the Award recipient.

"KARL STORZ, within a short period of 5 years, expanded its business in the Asia Pacific region. Both its revenue and market share grew in double digits. Compared to its competitors, the growth of KARL STORZ was diversified within the Asia Pacific region. Excellent dealers’ network, direct presence and expanding into the emerging Asia Pacific markets are some of the key strategic factors that helped the company to achieve such an excellent performance,” explains Jay Chandran, Associate Research Director for Healthcare, Frost & Sullivan Asia Pacific.

KARL STORZ and all subsidiaries of the Asia Pacific region are very honoured for being awarded the Endoscopy Company of the Year by Frost & Sullivan. Dr. h. c. mult. Sybill Storz, Managing Partner of the KARL STORZ Group explains the company’s position as follows: “We are absolutely pleased and honoured by being recognized as Endoscopy Company of the Year for the Asia Pacific region. Receiving such positive evaluation from independent experts is an outstanding confirmation for our understanding of doing business. We are pleased all the more as this is already the second Frost &  Sullivan Asia Pacific Award KARL STORZ has received in two consecutive years. The 2010 Growth Award and this year’s Company of the Year Award really confirm our growth and quality strategy. For more than 65 years it has been our strategy and strength to establish local entities as well as working within an efficient network of dealers. We thank our customers and partners for the confidence that is the base for growth in established and emerging markets.”

KARL STORZ in the Asia Pacific Region
Innovative achievements in modern endoscopy are closely associated with the name KARL STORZ. The still family owned company was founded in 1945 in Tuttlingen, Germany. From the very beginning the company has demonstrated how products and services can be developed using cutting edge technology and recognizing customer needs and market trends. Today the company employs 5,800 people in 49 locations worldwide and offers a product portfolio for 16 medical disciplines providing endoscopes, endoscopic instruments and units as well as integrated operating room concepts.

As early as in the 1970s KARL STORZ expanded its activities into the Asia Pacific Region. In collaboration with renowned doctors it has been extremely successful in promoting and supporting the spread of minimally invasive surgery. Working closely with local dealers helped KARL STORZ to further expand its market activities in Asia Pacific. Years later, KARL STORZ decided to set up regional offices in Singapore, Japan, China and Australia to provide its customers with the best possible service at a local level. Being present enables KARL STORZ to adapt quickly and efficiently to market circumstances.

The first subsidiary was established in Singapore in 1990 in order to manage all direct sales, service and marketing activities. Since 2008 the KARL STORZ Endoscopy Asia Marketing Pte. Ltd. has served as the Asian hub and provides enhanced marketing support to local subsidiaries and dealers. KARL STORZ Endoscopy Japan K.K. was established in 1995. Only one year later the first office in China was opened as a result of the rapid development in business and in order to facilitate the introduction of new surgical techniques and technology to the market. Three years ago the first Australian subsidiary was established providing regional sales and service.

About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best-practice models to drive the generation, evaluation, and implementation of powerful growth strategies. Frost & Sullivan leverages 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from more than 40 offices on six continents.