You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Tete'a-Tete'<br />
with Dr. Michael Orlowski<br />
In a frank and free-wheeling interview, Dr. Michael Orlowski, CEO,<br />
EuroCor GmbH, highlights how EuroCor would benefit from <strong>Opto</strong>'s<br />
global presence and better managerial skills.<br />
Qs. What was the primary reason behind selling Eurocor to<br />
<strong>Opto</strong> <strong>Circuits</strong>?<br />
Ans : To be honest, I needed money for R&D and for working capital<br />
and did approach many banks in Germany during 2004-05. At<br />
that time, the German economy was slowing down and I<br />
received a poor response from the banks. The bankers asked me<br />
to approach them again after a year's time but without any<br />
commitment. Around that time, <strong>Opto</strong> <strong>Circuits</strong> approached me<br />
and after detailed discussions, Eurocor and <strong>Opto</strong> <strong>Circuits</strong><br />
decided to move ahead together.<br />
Qs. How will Eurocor benefit from the integration with <strong>Opto</strong><br />
<strong>Circuits</strong>?<br />
Ans : <strong>Opto</strong> <strong>Circuits</strong> will bring in tighter cost control for EuroCor. We<br />
plan to do some back-end operations in India which will help<br />
save money. <strong>Opto</strong> has a strong marketing and distribution<br />
network across the globe which we can leverage to penetrate<br />
new geographies. EuroCor has no presence in USA. When we<br />
get the USFDA approval for stents, we would look to bank upon<br />
<strong>Opto</strong>'s presence in the market. More importantly, <strong>Opto</strong> also<br />
brings in superior managerial skills in terms <strong>of</strong> finance.<br />
Qs. What would be the success drivers for EuroCor as receipt<br />
<strong>of</strong> CE approval is behind us?<br />
Ans : CE approval was a very big thing for EuroCor. I can proudly say<br />
that our efforts over the past few years are starting to bear fruit.<br />
We have started marketing our products in 29 <strong>of</strong> the 36<br />
countries where we have obtained registrations. We have also<br />
appointed a very strong distribution team. I believe our<br />
products are superior to those <strong>of</strong> our competitors and they<br />
should receive an overwhelming response. We are organizing<br />
various awareness programs for cardiologists, who in turn could<br />
recommend our products. We had one very successful campaign<br />
in Paris and are going to organize a similar event in Mumbai over<br />
the next few months. Our success drivers would be our products<br />
and our ability to market them efficiently.<br />
Qs. Will technology obsolescence be a big threat for EuroCor?<br />
Ans : We have already received a patent for our Taxcor DES product<br />
which is far superior to that <strong>of</strong> our competitors. The patent is for<br />
20 years, due to expire in 2023. We are constantly investing in<br />
R&D which will help us in innovating new products.<br />
18
Change language