Our bones, it seems, need some reconstruction occasionally too. A Medina company has been successful in developing the right "hardware" for the job and may now double in size thanks to a new product offering.
OrthoHelix Surgical Designs was founded by David Kay, an orthopedic surgeon, in 2004. The company develops orthopedic implants for hand and foot surgery - small bone areas.
With a successful line of screw and plate instruments used across the U.S., OrthoHelix is a competitive leader in its marketplace and is expected to see sales of $20 million this year.
An Ohio Third Frontier grant for $1 million awarded to the company in June will make it possible for OrthoHelix to add an additional 42 employees to its current 50, says Dennis Stripe, CEO, as the company will commercialize a new locking mechanism product, OrthoLock, that complements its existing offerings.
"We expect to double sales in the next three years," says Stripe. "This locking mechanism is unique to us. We already have FDA approval and early trials are underway. We expect to roll out the product early in the first quarter of next year."
The growth will enable OrthoHelix to add a wide range of new jobs, says Stripe. Additional workers in engineering, technical inspection, product management, customer service, finance and marketing will be needed.
The grant will also help OrthoHelix expand distribution of its full product line throughout more areas of the country, says Stripe.
Looking even further ahead, Stripe says his company sees a bright future because of current R&D.
"We've got a very strong pipeline of product ideas coming down the line," he says.
Source: Dennis Stripe, OrthoHelix
Writer: Val Prevish