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In This Issue
Chairman's Message
FMMC New Contact Information
September Executive Meeting
July
Executive
Briefing
Membership Spotlight
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FMMC NEW CONTACT INFORMATION
FMMC has a new
office! Please contact and send all correspondence to the
location below:
325 John Knox Rd, Suite L103
Tallahassee, FL 32303
(866) 437-6534 phone
(850) 222-3019
fax
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2008 FMMC Board of Directors
Chairman
Geary Havran
NDH Medical, Inc.
Treasurer
Suzanne
Christman
Pinellas County Economic Development
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FMMC 2009 Symposium
Mark your
calendars for FMMC's 2009 Symposium on April 7th & 8th at the Tampa
Marriott Waterside Hotel & Marina. Be on the lookout for
more information via email or check for updates on FMMC's website at
www.FlaMedMfg.org
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Chairman's Message
Greetings!
July saw a very successful Executive Briefing presented
by Jayson Bedford summarized below. Plans are now underway for
the next briefing to be held in September. Please watch
your e-mail for the details.
Even as Congress adjourns for their 5 week summer
vacation, several actions affecting our industry are in the
works. Please see the article from the law firm of Hyman,
Phelps & McNamara, P.C. below for details of one such proposed
piece of legislation.
As always, I would like to remind everyone that the value of our
association is only as good as the participation of our
members. And speaking of members, please join me in welcoming
new member Weiss-Aug Co. Please forward any comments,
suggestions, and offers to volunteer on our various committees to
info@FlaMedMfg.org. Your insights are greatly
appreciated.
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September Executive Meeting
Please
log-on to FMMC's website at http://www.flamedmfg.org/upcomingEvents.htm
to view more information.
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July Executive Briefing:
A View from Wall Street
On July 22nd, the Florida Medical Manufacturers'
Consortium (FMMC) resumed their popular series of Executive Briefings
with a breakfast presentation from Jayson Bedford, Vice President,
Equity Research with Raymond James and Associates.
Based in Clearwater, Mr. Bedford tracks and publishes
research on 50+ publicly-traded medical devices companies.
Sponsored by ETI Incorporated, the July breakfast briefing, entitled
"How Wall Street Views the Medical Device Industry,"
provided FMMC members with some very interesting insights into the
public medical device industry. The industry encompasses 135
traded companies with a combined market cap of $700 billion and
revenues of $225 billion. Mr. Bedford noted that Mid-Cap device
stocks have substantially outperformed the market, while Large-Cap
device stocks have underperformed. Among some of the key
industry trends and challenges, he has observed increased M&A
activity and a move toward devices and diagnostics for out-patient
care - a product of a tighter reimbursement environment and price
pressures. Mr. Bedford also shared with the group some of the
key traits he looks for in medical technology companies and concluded
that the U.S. industry offers strong investment opportunities and
sustainable growth through innovation.
For a copy of Mr. Bedford's full presentation please click here.
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On June 26, 2008,
ranking Republican of the U.S. House of Representatives Energy and
Commerce Committee, Representative Joe Barton (R-TX), along with
several co-sponsors, introduced the "Strengthening of FDA
Integrity Act of 2008" (H.R. 6378). According to an Energy
and Commerce Committee Republicans press release, the bill:
- Gives
FDA the authority to debar any company or individual who is
convicted of crimes relating to any drug or device.
- Gives
FDA the authority to debar companies for any misconduct relating
to the drug or device, not just over misconduct that takes place
during a drug or device's development or approval.
- Provides
great accountability by requiring the FDA to bring debarment
actions within one year of the date of conviction.
- Requires
the FDA to report to Congress on the number of debarment
proceedings initiated and imposed each year.
more...
reprinted
with the permission of Hyman, Phelps & McNamara, P.C.
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Membership Spotlight
New Jersey based Weiss-Aug Co. joins FMMC since
establishing Florida presence
Weiss-Aug is an ISO 9001:2000 certified company and has extensive
experience in developing, prototyping and producing various types of
medical devices. Weiss-Aug works closely with major medical device
manufacturers in developing components for products such as cannula
safety devices, electro-surgical devices, ligature devices, surgical
blades, and endoscopic surgical devices. The company year to date has
shipped over 7 million molded and 500 million stamped parts, while
maintaining strict adherence to customer specifications. Weiss-Aug
also provides prototyping, tooling, insert molding, precision
stamping, and custom assembly and packaging.
Welcome to Florida Weiss-Aug!
For more information on
Weiss-Aug Co. please click here.
To join FMMC online click here.
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