Maria Fontanazza

February 1, 2009

3 Min Read
Sales Opportunities Rise with a Skyscraper

NEWS TRENDS


Fast Facts about the World Product Centre

Location: Midtown Manhattan

Scheduled to open winter 2013

60 stories

1.5 million sq ft

To be the 17th-tallest building in North America

Equipped for communication in seven languages

Houses up to 1800 companies

Features include an education and event center, consumer health pavilion, media space, and executive office center

The anticipated 2013 opening of a 1.5-million-sq-ft tower in New York City could bring new opportunities for the healthcare industry in a central location. The World Product Centre will feature state-of-the-art technology that enables companies to exchange information on site and remotely, in seven languages. It will be open to any organization that wants to do business in healthcare, including nonprofits and trade associations.

For the device sector, the center will focus on companies that sell finished medical devices directly to providers.

Part of the vision for the World Product Centre, which will be built in midtown Manhattan, is for it to be a transparent and convenient place for buyers and sellers to meet and learn about innovative products. This includes a wide range of people, such as hospital CEOs, directors of supply chains and materials management, doctors, technicians, and medical product manufacturers.

“The World Product Centre is a comprehensive business tool,” says Michael Resnick, executive vice president of the World Product Centre. “This is a place where [companies in healthcare] can do sales, marketing, new product announcements, education, training, B-to-B across the different companies, and R&D.”

The current state of the U.S. economy might raise concern over such an ambitious plan. However, Resnick says the World Product Centre provides long-term financial savings. “The nice part of this project is that it's [four] years until the doors open, so the financial commitment to secure the location is minimal and no risk,” he says, adding that the center has received positive responses from companies thus far.

Companies that want to participate sign a license agreement for permanent show space of varying sizes. The agreement gives them access to all building resources and amenities such as an executive office center, conference space, and an educational center.

The 60-story building will also serve as a place for continuing medical and professional education and an international destination for companies. “[There's a] continued interest by the international community to come to the United States and experience healthcare on commercial and educational levels,” says Resnick. The center will have technology that enables digital information exchange in seven languages: English, German, Japanese, Chinese, Russian, Spanish, and French.

Other advantages of the center will be its draw of high traffic and visibility. It could shorten the sales cycle, because it is designed to attract motivated buyers, says Resnick.

The center wants a 10-year commitment from companies and organizations. Nearly 200 healthcare companies have been approached, and Resnick expects the first participants to be announced soon.

Copyright ©2009 Medical Device & Diagnostic Industry

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