MassMEDIC leads Med Tech Match Program
Over the last 9 months with the leadership of Tom Sommer, President and Bruce Stanley , Project Director, MassMEDIC has led a critical supply chain initiative sponsored by Mass Development.
This program is designed to uncover and support new and innovative suppliers for the medical device OEM manufacturers that are located in MA. Our purpose is to help those small, diverse and medium sized suppliers gain traction with the OEMs and to assist them in better understanding the medical device marketplace, expose their innovative capabilities to the OEMs, building relationships that will contribute to long term relationships that will ultimately lead to additional revenue and job creation here in the Commonwealth.
Through a survey and in direct conversations with each MassMEDIC OEM Advisory Panel member we were able to develop a listing of market dynamics and needs so that each supplier would be educated about and equipped with the requisite knowledge of the changing landscape in medical device manufacturing, from policy to mechanics of design.
Throughout the project lifecycle we held numerous on-site visits with suppliers to obtain a firsthand knowledge of their process, their capabilities and to sit with their senior management to help them analyze and formalize their core competencies and to help them create messaging that would resonate with the OEMs.
The project provided the suppliers a rare opportunity and platform to spend quality time at the “supplier showcases” describing their organizational capabilities to significant OEM manufacturers with no interruptions, phone calls or requiring them to “cold call.”
Our MassMEDIC OEMs enjoyed the experience as well because it exposed them to an “agenda free” opportunity to hear about what specifically material and service providers are doing and innovating in their specialty area and the effect they have in all markets including healthcare. We have asked all participants to share any future business relations as a result of this project with us to track the long term effect.