Elekta (EKTA-B.ST)

Executive Summary

Elekta is a Swedish medical technology leader in precision radiation medicine, offering advanced radiotherapy and radiosurgery systems, including the Elekta Unity MR-linac, which integrates real-time MRI guidance for adaptive treatments. With a global installed base of over 6,000 systems, the company serves oncology clinics worldwide, aiming to make adaptive radiotherapy a standard of care. Elekta's software ecosystem, including treatment planning and workflow solutions, enhances precision and efficiency. The company has transitioned to a private structure focused on long-term innovation, holding a strong market position in the radiotherapy segment valued at over $5 billion annually. In 2026, Elekta is expected to benefit from growing adoption of its Unity platform in emerging markets and the rollout of AI-enhanced treatment planning software to improve clinic throughput. The company is also exploring radiopharmaceutical partnerships to complement its hardware offerings. However, pricing pressure from competitors like Varian and regulatory hurdles in new geographies remain risks. Overall, Elekta's focus on precision medicine and adaptive therapy positions it well for steady growth, with several near-term catalysts that could unlock value for shareholders.

Upcoming Catalysts (preview)

• Q3 2026Expansion of Elekta Unity in Greater China and India70% success
• Q4 2026FDA 510(k) clearance for new AI-driven contouring software80% success
• H2 2026Strategic partnership for radiopharmaceutical delivery systems50% success