2024 summary from the CEO
Breaking records, setting new goals, and growing stronger as a team
As we summarise 2024, we look back on a year of achievements as well as transformation. Once again, Etac has reached new heights and all business units have achieved all-time highs. We have also made substantial investments in growing our team, strengthening our infrastructure, and expanding our portfolio. We are now laying the groundwork for the future by setting new goals and defining Etac’s strategic initiatives moving forward. It is a pleasure to share some of the highlights from last year.
As Etac's new CEO since July, I have had a fun and exciting first time on the job. It has been a great experience to get to know our business, customers, and team members around the world. What really stands out to me is Etac's strong customer focus, and the incredible passion and expertise we have in the company.
I am also pleased that 2024 was a very successful business year with more than 10% organic growth across the group. This is a great testament to what we can achieve together, and I want to extend a big thanks to our customers and partners for their continued confidence - and to our fantastic team for making it all possible!
PÄR ÅSTRÖM - CEO
Added power through the acquisition of Klaxon
One of the most noteworthy events last year was our acquisition of Klaxon, an innovative Austrian company that develops state-of-the-art power assists for manual wheelchairs. The two founders, Enrico Boaretto and Andrea Stella are wheelchair users themselves, bringing firsthand knowledge to their innovations as well as a profound commitment to better mobility solutions. We are pleased to welcome Klaxon into the Etac family, and are eager to incorporate these powerful products into our offering.
Strong growth in the U.S.
Where 2024 was a very successful for Etac in general, we saw particular growth in the United States. Our product brand Ki is growing at a record pace and continually making headway in several segments of the mobility market. A new launch last year was Axiom for kids, a range of paediatric cushions and backs designed specifically for the smallest riders.
HoverTech also continues to deliver strong results and has established itself in a new market by releasing HoverMatt® PROS™, a repositioning system that supports pressure injury prevention and caregiver safety. Additionally, Etac has acquired another 10% of HoverTech, now owning 80% of the company. With both Ki and HoverTech breaking new records last year, we are enthusiastic to continue our progress in the U.S. with our other product brands.
Several new innovations
Our latest innovations were in focus when we participated at Rehacare in October, including recent launches from several business areas. We introduced a new patient handling device, Molift Transfer Pro, that assists healthcare professionals with sit-to-stand transfers while promoting mobility for the patient. We also released a new bathroom aid, Etac Alto, which is a powered mobile shower commode designed to ease the workload for caregivers. One of our paediatric highlights was R82 Chilla, a buggy that enhances functionality and convenience for active families. We are glad that our launches have been so well received, and look forward to presenting more news during 2025.
Increased focus on sustainability
During last year we proceeded with implementing our new sustainability strategy, reinforcing our commitment to people, the environment and corporate responsibility. We intensified our efforts to map out our environmental impact and made improvements at both product and operational levels. One example was re-sourcing the aluminium legs for our shower stools, where using new suppliers, new materials and a lower-impact production method has reduced the products’ footprint.
We also made progress in social areas, for example at our manufacturing site in Stevens Point, USA, which opened an on-site health clinic to support well-being for employees. Our local teams have initiated varying projects to support good causes in their communities, and we released a more comprehensive Code of Conduct to guide our employees across the full spectrum of sustainability.
Core values that unite us
Another important milestone was the introduction of shared core values across the group. As Etac continues to grow, it is vital to nurture a culture that unites our countries, sites and product brands worldwide. We are convinced that our core values will bring us even closer together, and propel our team toward achieving shared goals as we advance. We also believe they will underline our identity and what we stand for to our customers and partners.
Looking ahead
As we conclude last year's achievements, we also want to share our plans for kicking off the new year. We have recently regrouped our organisation to strengthen and enhance our team’s capabilities for the future. Effective from 1st January, the aim of the new organisation is to move decision-making even closer to our customers and markets, and empower our team to retain our spirit of entrepreneurship as we grow in size. Combined with our ongoing strategic work, we are confident that this sets the stage for our continued success by allowing us to better meet our customers’ needs and seize new opportunities. Welcome to join us on our journey ahead!
Thank you to all our customers, partners and team members for contributing to a fantastic 2024. We look forward to creating new possibilities together this year!