Up to the end of June 2009, the Society has more than 300 members of various grades. Two new types of membership were approved to add into constitution during the meeting, namely student membership and corporate membership.
After AGM, we are pleased to have Mr. Benjamin Chan (Managing Director, MediConcepts Limited) to give us a presentation.
The presentation topic entitled “Sharing Entrepreneur Experience in Healthcare Products and Medical Devices & Diversify into Medical Manufacturing Business”.
Mr. Benjamin Chan shared the company’s development experience. In 1976, it was a conventional manufacturing group in making timepieces parts / components and high precision plastic injection molding. It was an integrated facility for one stop manufacturing service. Until 2002, it was renamed to MediConcepts and incorporated with R&D. To develop new product, they have sponsored universities for medical innovative projects. MediConcepts is a founding member of the Hong Kong Medical and Healthcare Devices Industries Association (HKMHDIA).
They considered Medical, Aviation and Automotive could be new business & manufacturing opportunities and selected Medical manufacturing to diversify their business by using SWOT analysis. In 2006, Class 100K clean room was established and they obtained ISO 13485 certification from BSI. In that time, they commenced manufacturing of trocar, cannular and surgical valves. Recently, they have worked on a new FDA approved project with non-invasive drug delivery system. (For which, GMP production environment is required.)
Mr. Chan identified the challenges to Inventors as follows:
i) Unfamiliar with manufacturing technology
ii) Lack of Product Engineering knowledge
iii) Lack of Project Management skill set
iv) Large “Expectation Gap”
The success factors of the speaker’s company are:
i) Understanding user requirements
ii) Cost effective product development and prototyping
iii) License right to manufacturing and to distribution
Finally, the speaker used the following sentence to conclude the presentation.
“Tell me, and I will forget.
Show me, and I may remember.
Involve me, and I will understand.”
During Q&A session, participants asked the keys for getting success in manufacturing transformation. Mr. Chan affirmed to keep the operation size as small as possible (i.e. low overhead) so as to facilitate resource allocation. For example, some US biomedical companies had only 30 people with very good knowledge to support the business development period that could be 1 or 2 year. The other hint is to focus on the area which fits your manufacturing profile.
Dr. Tsang presented the souvenir to the speaker.