New products, new customers jumpstart sales for OIC (Northern Nevada Business Weekly)
The Orthopaedic Implant Company, (website here) whose mission is nothing less than a big change in the paradigm around the sale of hardware used in orthopedic surgeries, is beginning to gain some traction.
The company headquartered in Reno is posting 25 percent sales growth year-over-year, and the sales growth is beginning to accelerate as the company steadily introduces new product lines.
But Itai Nemovicher, president and co-founder of the 18-month-old company, acknowledges OIC continues to battle long-established competitors that don’t want to see change in the sector.
The battleground: Screws and similar hardware that orthopedic surgeons use as they repair fractures or replace hips and knees.
Traditionally, some of those finely crafted pieces of hardware have cost as much as $300 for even a small screw, costs that have been borne by the patient and his insurance company.
OIC, by comparison, finds orthopedic devices that are coming off patent protection. It outsources manufacturing to FDA-approved facilities and tightly controls costs up and down the line. Until recently, for instance, Nemovich...
