An Unusual Business Model

In the wide field of incubators, accelerators, co-working and wet lab spaces, and venture capital, Naglreiter Medical Device Development Organization (NMDDO) occupies a unique niche. The company, based in Miramar, FL, was started with the goal of reducing the time and resources that go into building a new medical device company or developing an innovative medical technology. Weeks or months, as well as millions of dollars can go into finding or building a facility, crafting a quality system, and hiring talent. NMDDO offers entrepreneurs a chance to skip to the fun stuff—developing the technology or product. The company’s business model differs from outsourced development and consulting arrangements by keeping management of the project under one roof with aligned timelines. “We provide a full business manual, we provide all the quality systems, and we’re the people, the equipment, and the quality system backbone that then goes into that company,” said NMDDO President Brett Naglreiter. NMDDO uses customized service agreements to start a client relationship. This includes an estimate encapsulating the entire cost for what the entrepreneur wants to achieve. However, a customer does not need to work with NMDDO for every part of that plan—“We’ll be as much or as little of that budget,” Naglreiter said. The customer can determine what resources he or she wants access to, including facility space, equipment, sterilization service, a machine shop, human resources and...
Source: MDDI - Category: Medical Devices Authors: Tags: Medical Device Business Source Type: news