Fort Wayne Metals – Wired into China’s Medical Device Manufacturers

The Assignment

Recommended by a key customer as a cost effective and low risk way of entering the China market, Fort Wayne Metals utilized Tractus’ business Inc.ubator to accelerate its market entry.

  • For Wayne Metals was formed in 1961 in Fort Wayne, Indiana USA as a manufacturer of medical grade wire. It continues to be a global innovation leader in the development of fine grade medical wires, with special expertise in stainless steel, titanium alloys and Nitinol, but has expanded into other innovative formed metal products demanded by the medical device and precision components manufacturing industries.
  • Its products including stranded wire and cable, helical hollow stranded tube (HHS™), straight linear torque wire, drawn filed tubing (DFT), drawn braze strand (DBS), custom alloys, mechanical assembly and centerless ground bar are used in numerous medical devices, medical equipment and other high precision applications.
  • Fort Wayne Metals is a key supplier to Lake Region Medical, one of the world’s premier medical guide wire manufacturers. Lake Region Medical was so pleased with the results of using Tractus’ business Inc.ubator to accelerate its China market entry that it recommended Fort Wayne Metals use the service to facilitate its own planned entry into the China market.

Tractus’ Solution

Utilizing Tractus’ business Inc.ubator solution provided Fort Wayne Metals with an on-the-ground presence and dedicated staff without having to establish its own China legal entity.

  • Since 2007, Tractus has provided a wide range of market entry services through our innovative business Inc.ubatorservice, allowing Fort Wayne to have an on-the-ground China business presence without having to establish its own China legal entity, including,
    • market entry strategy assistance;
    • recruiting and hiring of dedicated staff;
    • a legal entity through which Fort Wayne Metals employed a dedicated Senior Business Development Manager (China), with responsibilities for China, Hong Kong, Macao, Taiwan, Thailand, Malaysia and Singapore(Pacific Rim) and a Regional Sales Representative (China)
    • office space;
    • back-office support (bookkeeping, cashier, administration and payroll);
    • technical assistance during seminars and conventions, and;
    • senior management oversight in China.
  • Over the years we have provided advice, assistance and oversight of Fort Wayne Metals’ business development activities to market and sell into China’s medical device industry, for products in the following medical device segments:
    • orthopedics
    • dental implants
    • needles
    • vascular therapy
    • CRM and neurology
    • endoscopy
    • other medical devices and special delivery systems (forceps, stents and other medical wires)
  • Advice and assistance with logistics and supply chain optimization.

Result

Utilizing Tractus’ business Inc.ubator resulted in over 350% growth in sales in the first year and a market leading position supplying precision grade medical wire and specialized metal allow products to China’s developing medical device manufacturing sector

  • Since contracting Tractus’ representation, Fort Wayne Metals has achieved rapid success, established a 12-month business development plan and increased its 2008 first quarter sales to China by over 350%.

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