MediSurge said it has “grown by 29% in the last year and is on track to double revenue in 2020.” Courtesy MediSurge
A Grand Rapids company is seeing the benefit of tapping into the growing medical device industry.
A division of Alliant Healthcare Products, MediSurge, which set up shop in Walker in mid-2016, is a certified contract manufacturer that offers design and engineering capabilities for medical devices, as well as manufactures its own Surge line of cardiovascular-related products.
The ISO-compliant company offers a full range of services from idea through market realization, said Rick Shorey, senior director of research and development.
Whether for an established large company or a new entrepreneur with an idea, MediSurge is able to help businesses accelerate development and “get through the weeds” of regulations and paperwork needed to launch devices, Shorey said.
The company is working with one client on a blood warming device, he said. Another client’s product is a wound care powder.
“Being able to take on just about any type of projects that come our way and being very quick and nimble — that’s what we specialize in,” Shorey said.
The company has grown consistently since its launch, he said. The company said it has “grown by 29% in the last year and is on track to double revenue in 2020” but did not reveal additional financials.
He said MediSurge has about five to 10 companies under contract and has quotes out for around 30.
“Certainly, with the kind of growth that we expect, it is going to be prudent for us to begin looking at expansion before we hit the point where we're bursting at the seams.”
Shorey said becoming “established” and carrying out marketing and social media projects have resulted in a lot of new opportunities and requests for quotes.
He said the company’s growth can be attributed to the ever-advancing industry searching for improved health care outcomes and lower costs.
“From those needs that are in the market comes the opportunity for advancement in technologies,” he said. “Each time a new generation of a device is launched, it offers an opportunity for new manufacturing.”
On top of that, there are so many new ideas entering the market that need development help.
The company also credits increased health care spending and an improving economy as stimulants for demand over the past five years. The aging U.S. population has further contributed to industry revenue, given the high incidence of health issues requiring medical devices among elderly people.
MediSurge’s future growth is focused on additive manufacturing, automation, engineering technologies, device development and 3D printing.
Through a grant from the Grand Rapids SmartZone, MediSurge is working alongside Grand Valley State University and the applied Medical Device Institute, using groundbreaking 3D printing technology from Redwood City, California-based Carbon to create production-grade medical device parts.
Since 3D printing can be performed quickly and effectively, this technique allows for reduced startup costs and improved time to market.
“We can help them get their products to a point of design validation and submission to the FDA without having to put in that upfront time and money and capital,” Shorey said.
Bob Taylor, CEO of Alliant Healthcare, said his business has a complaint rate of 0.14%. For every complaint, he said the company takes a hard look at the root cause and then applies the lessons learned in operations throughout the company.
“We understand that our day-to-day jobs have the power to impact and change lives for the better,” he said. “That’s why we put quality measures and innovation above all else, to ensure that the impact we make is a wonderful one.”
Shorey added, “We take our job very seriously. We know that we're the last people that touch the device before it actually goes into a person on an operating table.”