Originally Published MDDI March 2005
|Accellent's president Ron Sparks believes the majority of medical devices will continue to be manufactured in the United States.|
Contract manufacturer UTI Corp. had a busy year. The Collegeville, PA–based company has now become a giant in the medical device industry with the acquisition of MedSource Technologies (Minneapolis) in June 2004, followed by a reorganization of the combined companies' divisions.
In keeping with its restructuring plans, UTI recently announced that it has changed its name to Accellent (pronounced Ak-SEL-uhnt) and is moving its headquarters to the Boston area. According to Ron Sparks, Accellent's president and CEO, the name change is something the company had been planning nearly a year before its acquisition of MedSource. Sparks explains that UTI is a legacy name; it originally stood for Uniform Tubes Inc. “Obviously, that is very far away from what the company does now,” he explains.
Sparks recognizes that a lot went into deciding on a name. “It was a difficult process. We had teams of people working on the name,” he says. What these teams settled on was a blending of two words: Accelerate and Excellent. “I think it properly conveys the idea that we want to bring more to the market, more quickly,” contends Sparks.
With the name change a done deal, Accellent is already looking toward the next stage of its development. The company is focusing its products and services in three key areas to align with its customers' core areas of focus: endoscopy, cardiology, and orthopedics.
The company is also looking to develop a more global presence, although no concrete plans are in the works at this time.
As far as global trends in outsourcing go, Sparks believes the majority of device manufacturing will continue to be handled in the United States. “Although,” he says, “we're seeing increased interest in other markets, especially China. People there are starting to look more closely at healthcare needs.” He believes that China holds great potential as a sales market.
Sparks is optimistic about the future of Accellent. “I really want to convey to the industry that we intend to be the world's best, most innovative outsourcing company,” he says.
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