Medical Device Summits Case Study – PMC SMART Solutions & Arthrocare
Vice President, R&D
ArthroCare has done around USD 300,000 worth of business with a solution provider from the marcus evans Medical Device R&D Summit, according to Norman Gordon, Vice President, R&D, ArthroCare.
A delegate at two Medical Device R&D Summits, Gordon said: “When I am searching for vendors, the Summits are useful for assessing the marketplace. Although we were looking for new vendors, it is very possible that we would not have met or ended up working with PMC LLC if we had not attended the Summit.”
Since your last Summit, you have been working with PMC LLC on a new project. How did this relationship develop?
We do a lot of work with a material that is difficult to mold, which not many companies in the US have the expertise and experience that is required to do it well. We had one vendor for all our molds and were satisfied with them. However, when we had a hard look at our risk management plans, we realized that we were single-sourcing some expertise and production capabilities, and needed to find new vendors.
We met PMC LLC at the marcus evans Summit and got a feel for their capabilities and which industry partners they work with. They seemed to be a pretty good fit with our needs. Thus, we had them quote competitively with the other vendor, and decided to work with them.
The contract value was around USD 300,000. Over the next few years, as we generate revenue for our company, we will probably purchase some additional components from PMC and place orders for new molded parts.
Although we were looking for new vendors, it is very possible that we would not have met or ended up working with PMC LLC if we had not attended the Summit.
How do the Summits help you find vendors? How efficient and effective do you find the one-on-one meeting format?
They allow you to cut to the chase quickly. The vendors get a chance to present themselves to folks that they might not otherwise have access to, and delegates get an understanding of their capabilities that they might not have otherwise sought. The meetings can be very valuable.
Every few years, the marcus evans Summits help me see the most recent advances in project planning, interact with folks facing similar challenges and hear how they have solved problems. It is definitely time well spent. When I am searching for vendors, the Summits are useful for assessing the marketplace.
Are you planning to work with any other solution providers you met through marcus evans?
With one of the other vendors, we have identified an overlap in their machining capabilities and some of the parts we make on a regular basis, so we are keeping in touch to possibly utilize their services when we are at that point in the product development cycle. We certainly will bring them in when we get started on some new projects, late summer or fall 2013.
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Contact: Sarin Kouyoumdjian-Gurunlian
Press Manager, marcus evans, Summits Division
Tel: +357 22 849 313 / Email: [email protected]
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