On Front Street in East Toledo, sandwiched between two abandoned buildings, LexaMed � a medical and pharmaceutical company �opened for business with eight employees in 2006. And hasn't looked back.
Today, LexaMed stands out as a neighborhood bright spot, even though it's surrounded by years of economic neglect.
LexaMed tests medical devices and pharmaceuticals, does auditing and conducts laboratory work. The company's own product line, BEC Growth-Chek � a liquid suspension containing micro-organisms for testing � is helping to take LexaMed to the next level.
The company now boasts 30 employees, not counting an additional 45 contracted employees. President Robert Reich proudly points to the company's hundreds of years of combined in-the-lab experience.
"I think we have a success story to tell, especially in Toledo," says Reich. "The environment in Northwest Ohio is certainly changing. We can't live on automotive batteries and auto parts anymore."
When LexaMed took over the previous company, the building had fallen into receivership. "The whole area has seen better days," he says.
Now, LexaMed is in the process of purchasing the 25,000-square-foot building. And plans are also in the works to spend some cash to fix up the aging facility and its 10 labs.
"It shows our commitment to staying in Ohio," Reich says. "And staying in Toledo."
He says he "wouldn't be surprised" if the company hired an additional half-dozen employees this year. LexaMed is also considering branching out its operations.
"We're constantly looking to improve," says Reich. "We're expanding our product offering, and expanding on our technologies. We want to stay current."
Source: Robert Reich, Lexamed
Writer: Colin McEwen