eZono® AG is a German Aktiengesellschaft (stock corporation) located in Jena. Originally the company was formed as eZono® GmbH (limited liability corporation) in July 2004 but transformed to an AG in April 2007. This has further enhanced the company’s ability to finance its growth path by attracting a wide range of international investors. Furthermore it helped to implement a solid corporate governance structure.
Today, eZono’s® shareholder base is quite diversified with more than 40 investors across the globe. Main shareholders are beyond management, employees and individual investment professionals from London, Boston and New Jersey, the Private Equity Thueringen GmbH & Co KG in Erfurt.
Growth by providing cost productivity
We believe that the inability of healthcare systems to raise even more money to spend will transform the medical device industry. Medical services and devices need to become more affordable in order to remain accessible. Similar to the mainframe computer industry, which got eventually replaced by PCs in the 1980s, there is a vast potential for productivity increases and cost reduction across the board in medical devices in our view.
We at eZono® believe that state-of-the-art technology found in PCs, game consoles, routers etc can also be used in medical areas to bring down healthcare cost. Our eZono® 3000 system with its initial focus on regional anaesthesia and intensive care is on the forefront of this broadening trend. However we do not only concentrate on lowering the burden of initial acquisition cost but also look at reducing training efforts through facilitating the systems’ use. Similar what the PC’s graphical user interface has done to mainframes, we believe our icon-based software platform can do to empower sonography.
Our software-centric product approach with its ability to customize our platform to various clinical areas allows us to scale our business model in order to generate growth. Thus we have developed a complete roadmap of applications we will target over time. As cost pressure rises in healthcare as more the demand grows for our affordable yet high-quality easy-to-use ultrasound solutions.
Due to our low-cost operations and the consequent use of integrating leading experts for production and logistics, eZono® has been able to limit its capital need and is thus solidly financed. It took us just two years to come up with the first prototype of our ultrasound platform and less than four years since start of operations in May 2005 to generate first revenues.
The spirit of lean management is baked into the company’s DNA and helps to provide cost effectiveness for our customers. As a result we do not believe in building up fixed cost by hiring large teams but try to scale our operations with the help of partners in particular in sales, manufacturing and distribution. This approach helps to keep our staff levels at currently 26 with some more expansion coming in the future in particular in sales & marketing. But scalability remains a core operating principle at eZono®.
Petition of shareholders to the Annual General Meeting on August 20, 2019
Referring to our Annual General Meeting on August 20, 2019, we received the following countermotion to Agenda Point 5 from the shareholders MVM Fund III LP and MVM Fund III (No.2) LP:
In place of the proposed Mr. Hugo Harrod, it is proposed to elect Mr. Thomas Theodore Casdagli.