It's not always doom and gloom in the med-tech industry. Some med-tech companies are making significant strides, and it doesn't always revolve around garnering a significant funding or getting FDA approval on a product.
Nearly two months ago, Instrumentation Laboratory (Bedford, Massachusetts) took a bold leap with its Hemostasis product line in North America, and decided to go with a new direct sales, support and service model.
Previously the company had a strategic alliance cross-distribution agreement with Beckman Coulter (Brea, California) for about 20 years, which it deemed successful. The company already has a direct customer model in its critical care line.
In a brief discussion with Medical Device Daily, the company said that this was a natural and organic move that would only benefit the customer.
"It was a really highly successful alliance [with Beckman Coulter] for 20 years," Brian Durkin, Instrumentation Laboratory's VP. "It was just a natural logical flow to take the business direct. We feel like similar to what we did on Critical Care we could better serve our customers on a direct basis."
Kudos should be given to Instrumentation Laboratory. The firm is in a position to have a more direct impact in the Hemostasis market, and will perhaps demonstrate significant growth within the next few months because of this measure.