In 2017 the medical device market must adapt to constant changes in the medical landscape to continue its consistent growth. The demand for more advanced, more personalized treatment; increased availability of healthcare; and an aging population are pushing the market and expanding technologies. These advancements require accelerated design and production to get products to market quickly, efficiently, and cost-effectively.
Medtech giant BD (Becton, Dickinson and Company) will be investing over $60 million to transform the manufacturing facility in Columbus, NE, into a plastic injection molding manufacturing center of excellence by 2021.
Rapid business growth (organic) is critical lever for accelerated value creation. Business leaders need to have a clearly defined, articulated mission/vision statement, and high performance team are critically important to achieving and sustaining rapid growth in a business. A robust Business Development Strategy should strike a balance between the following levers along with a favorable customer experience to meet short and long term growth goals.
Operational Excellence (OE) is executing in an efficient and effective manner across the value chain with a focus on delivering value to customers. The Operational Excellence program provides a framework to understand why and how performance needs to improve. The road to achieving operational excellence is by identifying value chain business processes, identifying strengths/weaknesses of them (based on key measurements and benchmarks) and redesigning these processes to align with corporate / strategic goals and ensure that organizations, resources and assets are utilized in the best possible manner.
One image that provides insights into race to acquire medical startups......