OrthoConnections’ Lisa Preston speaks to Managing Director Bill Stringer about Osteotec and their plans under new ownership.
Tell me about your background and role as Managing Director at Osteotec.
I’m a sales and marketing specialist and I’ve been working with SME engineering and manufacturing businesses for most of my 23-year career. I’m an engineer by training and I like to apply an engineering mindset to business management and sales and marketing – design robust processes that can be monitored and developed based on feedback.
I partnered with Drew Mellor back in 2015 and work on several of Venture’s portfolio businesses. I took over as MD of Osteotec when Venture acquired the business in December 2015, and I’ve been managing the transition and future strategy.
The Osteotec team have responded very well to the acquisition of the business. They are very committed and we focus on providing high levels of customer service from building long-term relationships with surgeons and theatre staff right through to order processing, dispatch of products and follow-up.
What makes Osteotec successful?
Osteotec is a well-established brand with a 25-year history of providing innovative and value-adding products to UK hospitals for upper and lower extremities. The Osteotec team are a huge testament to the company’s success over the years, despite the change in ownership there’s been some real continuity with growth of sales and confidence from our suppliers, who have stayed with us and are excited about the future.
What do your customers say about Osteotec – why should people use Osteotec products?
We’re a perfectly formed small business that is able to respond quickly to requests, so our customers benefit from our flexibility and exceptional customer service – if a surgeon needs a particular product urgently, we’ll put it in a taxi and have it there as soon as possible.
Osteotec offers great products and we can be counted on to bring highly innovative products to market and enhance patient outcomes at an affordable price. This is coupled with an experienced sales team that know their market and products inside out, so they can advise and support surgeons to select the right product and use it effectively.
There’s been a lot of exciting developments at Osteotec, what’s your vision for the future?
In the short term we are focusing on maximising the penetration of hospitals with our focused range of hand and feet products. Mid-term we plan to develop the export business of Osteotec’s own silicone finger product in continental Europe and USA, now we have FDA approval of the product. In addition, we will continue to identify and bring in new products to the range that are innovative and deliver even better patient outcomes. We will also look at other niche medical implant products applicable to other parts of the body. Longer term we will make bolt on acquisitions of other distribution businesses and potential medical implant manufacturers.
Having worked with the team at OrthoConnections, what are your thoughts about the services they provide?
OrthoConnections had been very valuable in supporting us with their in-depth knowledge of the sector. It’s always useful to bring in third-party consultants to gain new insight into the marketplace and its key players. They have challenged our way of thinking and helped us build our vision in terms of future projects and acquisitions.