In the Diabetes Management Domain, we support people with diabetes around the world, through innovative glucose monitoring solutions designed to help simplify and improve quality of life. We develop, manufacture and sell blood glucose monitoring (BGM) systems that enable patients to measure their blood glucose levels with convenience and accuracy. In addition, we distribute the world’s first and only one-year continuous glucose monitoring (CGM) system.
Fiscal Year 2024 Results
Revenue decreased year-on-year, despite higher revenue from the new CGM product launch and favorable FX. This decrease was due to the termination of a BGM sales collaboration in the U.S. (with the impact now reduced) and market contraction in Europe.
- Favorable FX
- Share gains in developed markets
- Increased sales of CGM
- Market contraction in developed countries
- Termination of sales collaboration in the U.S
- Market shifts to lowprice channel
Operating profit decreased YoY, despite lower restructuring costs recorded in fiscal year 2023 and improved profit in the CGM business. This decrease was driven by lower revenue in the BGM business and higher costs, including FX impacts.
- Decrease in one-time restructuring costs
- Decrease in amortization of some intangible assets
- Profit improvement in CGM
- Increase in expenses due to FX impact and higher inflation
- Declined margin of BGM sensors from sales channel mix change
Operating profit margin: 14.1%
Domain Strategy
Koichiro Sato
Senior Executive Vice President,
Representative Director,
COO, CSO,
Head of Diabetes Management Domain,
Head of Healthcare Solutions Domain,
PHC Holdings Corporation
Maintain and Improve Profitability
BGM: Strengthen focus segments and improve profitability through cost optimization
CGM: Strengthen sales of 365-day system
Operating profit margin improvement: 2.5% (Fiscal Years 2024-2027)
We meet the diverse needs of people with diabetes by providing BGM and CGM systems
Diabetes is one of today’s most pressing global health challenges. It is estimated that one in nine adults in the world, or approximately 589 million people, are living with diabetes*1.
In the Diabetes Management Domain, we have more than 80 years of history helping people monitor and manage their condition. Since the launch of Ascensia Diabetes Care in 2016, we have continued this legacy, and today our products are used in more than 100 countries and regions around the world.
We are also one of the few companies globally to offer both blood glucose monitoring (BGM) systems and continuous glucose monitoring (CGM) systems*2, the two primary methods of self-monitoring for people with diabetes.
In developed markets, demand for CGM systems is growing rapidly. CGM is a relatively new technology for continuous blood glucose monitoring, enabling patients to effortlessly track changes in their blood glucose levels over time. PHC Group company Ascensia Diabetes Care offers Eversense® 365 CGM, the world’s first and only subcutaneous implantable sensor, developed by our partner Senseonics. Unlike conventional CGM systems that require sensor replacement within 7-15 days, Eversense® 365 enables continuous use for up to one year. Through this cutting-edge innovation, we are pioneering new possibilities in diabetes care technology.
BGM systems, by contrast, provide people with diabetes with a simple, accurate and affordable way to measure their blood glucose levels. In emerging markets, BGM systems are still in strong demand among patients who require less frequent monitoring or prioritize affordability. In addition, the American Diabetes Association recommends that patients using a CGM also have access to a BGM system*3. Ascensia’s CONTOUR® Series is a globally recognized product line known for its accuracy and user-friendliness, empowering patients to manage their diabetes independently.
Through our dual offerings in BGM and CGM systems, we have aimed to meet the diverse needs of people with diabetes, empowering them to manage their diabetes independently, while enhancing partnerships with healthcare providers to ensure the delivery of high-quality diabetes care*4. Moving forward, as a leading company in the diabetes management business, we will continue to dedicate ourselves to improving lives of people living with diabetes.
- *1
According to Facts & figures of the International Diabetes Federation (IDF)
https://idf.org/about-diabetes/diabetes-facts-figures/
- *2 On September 4, 2025, PHC Holdings Corporation and its subsidiary Ascensia Diabetes Care announced that Ascensia has signed a memorandum of understanding to transfer the commercial operations for Eversense® Continuous Glucose Monitoring (CGM) systems to Eversense maker Senseonics Holdings, Inc. The companies are targeting to unite Eversense R&D, manufacturing, and commercial activities within Senseonics beginning January 1, 2026, subject to a definitive agreement.
https://ssl4.eir-parts.net/doc/6523/tdnet/2684179/00.pdf
- *3 American Diabetes Association. 7. Diabetes Technology: Standards of Medical Care in Diabetes. Diabetes Care – 2022. 2022;45(Suppl_1):S97–S112.
- *4 Long-Term Safety and People Reported Outcomes of a Long-Duration Implantable CGM System in the US Post Approval Setting
https://crimsonpublishers.com/
Market Environment ＆ Outlook
BGM Market Trends
Source: In-house research
Market Environment
- Patients with high testing frequency are transitioning from BGM to CGM, primarily in mature markets.
- In emerging markets, BGM, which is more cost-effective than CGM, is also expected to grow.
Outlook
- While CGM adoption will continue, we expect more moderated BGM declines.
- We expect overall pricing to erode as 1) high-price markets decline and low-price markets grow, and 2) inflation in healthcare costs puts pressure on pricing.
Products & Services
- CONTOUR®
- CONTOUR® products enable highly accurate, easy-to-use blood glucose monitoring for people with diabetes. Sold in more than 100 countries, CONTOUR® solutions are used by an estimated 10 million people worldwide.
Source: In-house research
Strategy & Target
Strategy
- Prioritize allocation of resources to profitable segments to drive market share growth.
- Invest in selected commercial initiatives that have strong ROI.
- Change go to market approach in low-margin markets to improve profitability.
- Ongoing optimization of support functions to reduce structural costs and other operating expenses.
Target (Fiscal Years 2024-2027)
Revenue CAGR: -3.0%
- Main drivers for trend improvement:
-
- U.S.: End of headwinds from partnership sun-setting and ability to pursue new opportunities
- Algeria: Localization realized in fiscal year 2025
Business Strategy
Koichiro Sato
Senior Executive Vice President,
Representative Director,
COO, CSO,
Head of Diabetes Management Domain,
Head of Healthcare Solutions Domain,
PHC Holdings Corporation
The blood glucose monitoring (BGM) business is pursuing a focused strategy to sustain profitability and respond to shifting market environments. In developed regions, where continuous glucose monitoring (CGM) is gradually replacing frequent BGM use, efforts are concentrated on higher-return market segments by focusing investments to drive market share improvements. In lower-margin countries, the go-to-market approach is being reshaped to drive efficiency and secure a sustainable presence. In contrast, emerging markets continue to offer growth potential, where BGM remains a cost-effective, highly accurate and accessible solution.
While the overall BGM market is still expected to decline, the pace of decline is projected to be moderate*. In addition, our outlook is strengthened by the growth trend of the over-the-counter business in the U.S., as well as our re-entry into Algeria via localized manufacturing in fiscal year 2025. Investment is being directed toward commercial initiatives with strong ROI, while structural costs are being carefully managed. Despite pricing pressure from inflation and shifting payer priorities, the business aims to maintain a solid foundation, outpacing the market, and targets a -3.0% revenue CAGR fiscal years 2024-2027.
* Source: in-house analysis
Frontline & Customer Voices
- Helping People with Diabetes Feel Supported and Confident
- At the Concentrix customer support center in Bogotá, Colombia, Mayra Ojeda leads a team that provides compassionate and practical support to people living with diabetes in the U.S., Canada, Mexico, Colombia, and Brazil. Her 28-person team handles questions and concerns through phone, email, chat and social media, supporting users of Ascensia’s CONTOUR® blood glucose monitoring systems.
Many of the people they support are older adults or people newly diagnosed with diabetes who feel overwhelmed by the technology and unsure where to start. “There’s a lot of patience and tenderness required,” says Mayra. “We explain things step by step. How to connect their meter, how to send an email, even how to test for the first time.”
She describes how people with diabetes often feel unsure whether they have the skills to manage the technology, and how the team’s support helps them gain confidence. “They didn’t think they could do it,” she says. “And after a few minutes on the phone, they’re relieved to know they can.”
The accuracy, simplicity and reliability of CONTOUR® blood glucose monitoring systems are critical to that experience. “There’s a sense of trust in the product,” Mayra says. “They rely on it, especially when other tools aren’t working.”
Whether someone is adjusting to a new diagnosis or transitioning from another brand, Mayra’s team ensures they are accompanied on the journey. That human connection makes a lasting difference.
Market Environment ＆ Outlook
CGM Market Trends
Source: In-house research
Market Environment
- The market is on an expansion trend due to the increase in the number of people with diabetes.
- The transition from BGM to CGM is increasing, particularly in developed countries such as those in Europe and the United States.
Outlook
- With the expansion of insurance reimbursement systems in various countries, patient burden is expected to decrease, leading to further demand growth.
- *1 On September 4, 2025, PHC Holdings Corporation and its subsidiary Ascensia Diabetes Care announced that Ascensia has signed a memorandum of understanding to transfer the commercial operations for Eversense® Continuous Glucose Monitoring (CGM) systems to Eversense maker Senseonics Holdings, Inc. The companies are targeting to unite Eversense R&D, manufacturing, and commercial activities within Senseonics beginning January 1, 2026, subject to a definitive agreement.
https://ssl4.eir-parts.net/doc/6523/tdnet/2684179/00.pdf
Products & Services
- Eversense®
-
Eversense® 365 is the world’s first and only one-year CGM system. This award-winning CGM offers a truly differentiated CGM experience for people with diabetes, with up to one year of use per sensor. The implanted sensor measures glucose levels with its patented fluorescent technology, sending data to the removeable smart transmitter. The removable smart transmitter, which does not penetrate the skin, sticks to the upper arm via a gentle, daily-use, double-sided silicone-based adhesive.
Strategy & Target
Strategy
- Leverage the characteristics of Eversense® 365 to drive patient awareness, prescriber adoption, and health system integration.
Target (Fiscal Years 2024-2027)
Revenue CAGR: 112%
Business Strategy
Brian Hansen
President CGM, Ascensia Diabetes Care
The CGM business is focused on driving high growth while aiming for Eversense®, the world’s first and only long-term wearable CGM system, to become a more preferred product for diabetes blood glucose management. The strategy builds on key differentiators of the Eversense® CGM developed by Senseonics and marketed by Ascensia, including 365-day wear time and a removable transmitter*2, to stand out in a competitive market. Efforts are directed toward expanding reimbursement, raising patient awareness, and encouraging more physicians to prescribe Eversense® through targeted promotional activities.
In parallel, the business is strengthening its presence within healthcare systems by enabling providers to integrate CGM data into clinical care, using remote monitoring to support patients at risk. Senseonics has also signed a commercial development agreement to connect Eversense® 365 with an automated insulin delivery system.
As the longest-lasting CGM*3 currently available, the system offers significant convenience and fewer CGM changes for users. With a growing demand for connected diabetes care, the business is targeting a 112% revenue CAGR through fiscal year 2027.
- *2 There is no glucose data generated when the transmitter is removed.
- *3 CL-001994-> Eversense 365 (2024) CGMS User Guide (LBL-7702-01- - 3 (cont) - 001 Rev B) (v0.2) - Sensor Survival/ Duration Rate = 90% (p.226) Dexcom G7 User Guide (2024) _ AW00078-10 Rev 003 MT-00078-10 (v0.2) - Table 7-A. Sensor survival rate by wear day (adults;n=315) (p.170) FreeStyle Libre 3 User Guide (2024) _ART49385-001 Rev. A 04/24 (v0.3) - Table 7: Sensor Survival Rate Over Wear Duration (n=101) (p.230)
Frontline & Customer Voices
- Jacob*’s Story: Supporting the Next Generation with Confidence
- As the founder of a camp for children living with Type 1 diabetes, Jacob understands that consistency and ease in diabetes management are essential – not just for himself, but as a role model for the young adults he mentors.
- For Jacob, Eversense® 365 provides a reliable and innovative solution. Its year-long sensor duration means fewer insertions, and the removable transmitter* offers comfort and flexibility, especially during physical activities at camp. These features help reduce the daily burden of diabetes care, giving him more time and headspace to focus on building a supportive and empowering environment for others.
-
“Eversense
® 365 has simplified how I manage my diabetes,” Jacob shares. “It’s allowed me to lead with more energy, more focus, and more freedom.”
By helping people like Jacob take control of their health, Eversense
® 365 is not only improving individual lives but also enabling positive impact in the broader diabetes community.
* Jacob is a Paid Ambassador and Employee of Ascensia Diabetes Care.