Elekta outlines long-term oncology focus, shares tracked against medtech peers

By Stefan Krueger, Long-Term & Business Model desk. Reviewed prior to publication on 2026-06-28, 09:30.

Elekta (SE0000163628) is a specialist in radiation oncology systems listed on Nasdaq Stockholm. The company is viewed as a structural medtech play with a strong recurring revenue component in software and services, according to its latest capital markets communication.Elekta Capital Markets Day materials

Long-term growth pillars in radiation therapy

Elekta generates most of its revenues from radiation therapy equipment, related software and long-term service contracts for cancer treatment centers worldwide, with a strong footprint in Europe and emerging markets.Elekta financial information The company positions itself against global peers such as Varian, part of Siemens Healthineers, and Accuray in the radiation oncology segment.Siemens Healthineers Varian IR overview

Elekta reports that a significant proportion of its top line is recurring, driven by software licenses, treatment planning systems and multi-year maintenance agreements for its installed base of linear accelerators and related equipment.Elekta annual and interim reports Management has communicated strategic priorities that include improving profitability, strengthening the service offering and expanding in underpenetrated markets, as highlighted at recent investor events.Elekta strategy overview

Strategic themes for long-term investors

From a long-term perspective, Elekta emphasizes demand growth for advanced radiotherapy as cancer incidence rises globally and healthcare systems invest in technology upgrades for oncology departments.WHO cancer fact sheet The company aims to capture this trend by broadening its portfolio, enhancing software capabilities and offering flexible financing solutions for hospitals.

Analyst commentary on the medtech and oncology equipment sector frequently cites Elekta alongside Siemens Healthineers and Accuray when discussing capital expenditure cycles in hospitals and the shift toward precision medicine.Reuters company overview on Elekta Longer-term, investors often focus on Elekta's ability to convert its installed base into higher-margin software and services revenue, while managing product development and regulatory requirements for new oncology technologies.Morningstar coverage of Elekta

How Elekta makes its money

Elekta's business model combines sales of capital equipment, primarily linear accelerators and brachytherapy systems, with software platforms for treatment planning and oncology information management, plus multi-year service contracts on its global installed base.Elekta radiotherapy solutions This mix of one-off equipment sales and recurring software and services revenues shapes the cash flow profile of the company.

Where the Elekta shares trade

The Elekta shares (SE0000163628) trade on Nasdaq Stockholm; the latest verifiable quote information is available via the Stockholm exchange and major financial data providers in Swedish kronor.

This text is for informational purposes only and does not constitute investment advice, investment recommendation or an offer or solicitation to buy or sell any financial instrument. Investors should conduct their own research or consult a qualified advisor before making investment decisions.