The major push to reduce healthcare costs is creating business opportunities for medical contract manufacturers such as Vention Medical (South Plainfield, NJ), which has more than tripled in size in the past three years.
"Medical original equipment manufacturers are making significant adjustments to prepare for an environment where products will be sold for somewhat less," Vention Chairman George W. Blank, said in an interview with PlasticsToday.com. "Our approach is to attack costs intelligently."
Many high-volume legacy products were designed in a different era when there was less emphasis on costs. Vention Design employs 80 design engineers who, in addition to designing new products, perform value engineering analysis on those products to determine how they can be redesigned to simplify and take advantage of new manufacturing and materials technology, including in-mold labeling, insert molding and two shot molding....