Denver, CO-based Emerge Medical is making plans to target the $2 billion orthopedic trauma market with the industry's first line of generic implants and instruments, the company announced today.
According to Emerge's website, orthopedic device companies pass along an average annual price increase of 5 percent to 15 percent. So the company is focusing on core devices that are easily standardized for use across multiple procedures and have low physician preference (i.e., physicians are not partial to a specific brand). It also works directly with hospital administrators, department heads and surgeons to reduce the add-on expenses typically associated with medical device sales forces. All products are manufactured in the U.S., the company emphasizes in a statement.
"Our supply chain model offers hospitals and physicians high-quality products at a significantly lower cost, changing the way medical device sales are approached and empowering hospitals to improve efficiency," Emerge CEO John Marotta explains in the statement. "Emerge's present focus is on the orthopedic trauma market, but our vision is to apply our generic device platform to the larger orthopedic, sports medicine and spine market; and ultimately to the entire $92 billion medical device industry."
Marotta likens the company's idea to other "game changing moments in industry," such as the introduction of generic drugs or "the Michael Dell vision that helped to revolutionize the PC market."
- see the Emerge statement