Summit Medical targets ambitious annual growth
through stronger product portfolio

Summit Medical, a successful developer, manufacturer and distributor of single-use medical devices, has asked Cambridge Consultants to identify suitable products to license and distribute. This will enable the company to achieve its ambitious target of double-digit annual sales growth over the next two years and beyond. Over the next two months Cambridge Consultants will be actively identifying and prioritising a range of novel disposable products that provide a strong or proven clinical benefit, such as reducing the time patients spend in hospital, and which could further enhance Summit Medical’s portfolio.

Set up in 1984, Summit Medical has built a strong portfolio of products including bone cement mixers, post operative autologous blood transfusion devices and wound drainage systems, which are all used in acute hospital settings around the world. The company has established important distribution channels throughout Europe and the US and a track record in manufacturing and regulatory compliance. This enables companies, who are looking for a route to market for their novel product or technology, to capitalise on Summit Medical’s strengths and reputation.

Frank Collins, CEO of Summit Medical comments, "The market in which we operate is fiercely competitive and the breadth and depth of the company’s portfolio is essential for continued growth. We have built a very good reputation in the industry and our products continue to sell very well year-on-year, but in order for us to achieve our long-term ambitions we want to accelerate our annual sales volumes. Growing our portfolio organically will take time and although this is still a part of our strategy, we are looking for other products to complement our own ranges." He added, "By bringing Cambridge Consultants in as an independent facilitator, we can continue the day-to-day running of our business, safe in the knowledge that the best products are being identified and assessed."

Dr. Gerald Dunstan, Principal Consultant at Cambridge Consultants and an expert on technology partnering added, "When you sit in a good market position, as Summit do, then portfolio optimisation and partnerships provide good opportunities to increase sales volumes. But with these opportunities come considerable risks, as a poor product will have a significant impact on profit, your reputation and the subsequent sales of other product lines. Facilitators, such as Cambridge Consultants, take an unbiased perspective and set a number of strict filters and profiles to easily and quickly highlight the good from the bad. This results in a fast turnaround and lower risk, which are essential if you have ambitious targets like Summit."

Over the last month Cambridge Consultants has worked closely with senior mangers and stakeholders at Summit Medical to establish a number of filters and partner profiles. The consultancy firm is now contacting a number of suitable companies and is filtering out opportunities that do not provide a strategic or tactical fit. Cambridge Consultants will then present a final shortlist to Summit Medical’s board in late-April, leaving them with a number of significant opportunities to select from and a transferable process for future opportunity selection.

Companies interested in licensing their novel single-use products or partnering with Summit Medical should contact Dr. Gerald Dunstan or his colleague Gemma Evans at Cambridge Consultants on +44 1223 420024.