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Strategy: A
Case Study
Product Concept
Having introduced the first
completely resorbable fixation system for craniomaxillofacial surgery, Walter
Lorenz Surgical, a division of Biomet, was looking for further competitive
advantage. In their mind, developing a more streamlined delivery system
to make a proven technology even simpler and faster to use was just what
the doctor ordered. In other words, Lorenz wanted the delivery of their
consumable products to be more efficient and therefore more attractive to
the neurosurgeon. After wrestling with the concept internally and with an
outside "design company", Lorenz came to Pro-Dex, a company
they knew possessed the technical expertise to not only rapidly develop,
but rapidly manufacture the product they desired.
Product Development
Recognizing Lorenz's sense
of urgency to protect and grow existing market share in the highly competitive
neurosurgical segment of medical surgery, Pro-Dex recommended that the development
of Lorenz's new power driver be split into two stages. The first stage
was to immediately provide Lorenz with a device that met their basic need
while getting that product to market virtually overnight. Under the terms
of a formal Development Agreement, Pro-Dex was able to accomplish this strategic
objective by making modifications to an existing product platform and delivered
that product to Lorenz in less than three months, a timeline unheard of
in custom medical device design and manufacturing.
Product Launch
Having provided Lorenz with
a device that allowed them to compete on a level playing field, Pro-Dex,
in coordination with Lorenz's internal R&D group, turned its attention
to developing an all new power driver. This product was conceived to include
product features and product performance that would leapfrog the competition,
achieving Lorenz's next strategic objective. Lorenz provided Pro-Dex
with a list of features it wanted in the new device and Pro-Dex set off
to incorporate that wish list into a device that would meet all of its customer's
requirements. In less than three months, Pro-Dex provided Lorenz with working
prototypes of the new power driver for clinical testing and in less than
seven month, under the terms of a formal Exclusive Supply Agreement, Pro-Dex
manufactured and delivered the first of 500 power drivers that Lorenz ordered
for their initial launch.
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