Industry leader caps off record year with strong revenues, innovation and vision for 2020
TOTOWA, N.J.–(BUSINESS WIRE)–Medin Technologies, Inc., the leading independent U.S. manufacturer of sterilization cases and trays for the orthopedic implant and instrument industry, announced today the appointment of Jim Engler as Chief Financial Officer and Gregg Olson as Vice President of Sales and Marketing. These appointments follow the previous additions of Anthony M. Snyder as Chief Operating Officer and Hans De Waal as Vice President of Engineering and Program Management.
Medin’s Chief Executive Officer, Bill Donaldson, stated “We are delighted to augment our executive leadership team by welcoming Jim and Gregg to Medin Technologies. They bring deep executive experience to our team and have demonstrated their talent as transformational leaders. These critical hires will enable us to continue to execute on our strategy of becoming a world class orthopedic device contract manufacturer.”
Prior to joining Medin Technologies, Jim Engler served as the Chief Financial Officer and Vice President, Finance at Preferred Display, Inc. and IPC Systems, Inc. and held executive financial roles at the LeFrak Organization and Medical Resources, Inc. Throughout his nearly 30-year career in finance, accounting, auditing, and financial planning and analysis roles, Engler has focused on continuous improvement by aligning financial and business metrics to support business strategy and high-growth. Engler has been a key leader in debt and equity financings involving several leading venture capital and private equity firms, helping raise over $2 billion in capital for his prior companies.
Gregg Olson has a track-record of over 35 years of medical industry sales and marketing experience and has held key business development positions at Avail Medical Products, Flextronics Corporation, Vention Medical, and Confluent Medical Technologies. His experience includes serving multiple life sciences market segments, ranging from Fortune 500 corporations to early stage companies.
“We are pleased to enter the new year with the leadership, expertise and infrastructure we need to remain competitive and take advantage of growth opportunities in 2020,” added Donaldson. “Jim and Gregg join a team with the background and experience to deliver the performance, service and value our customers expect.”
Previous additions to the Medin executive team include Anthony M. Snyder, who brings 16 years of experience in medium to heavy industrial sectors focused on driving business results in both regulated and non-regulated industries. He has held various Operations Management and Continuous Improvement roles for RBC Bearings, Danaher, Circor, Swanson Industries, and Harley-Davidson Motor Company. Also joining the leadership team this year is Hans De Waal, a seasoned medical device industry veteran with over 10 years of design and manufacturing experience. As Medin’s Vice President of Engineering and Program Management, he is responsible for guiding customers of all sizes through the technical decisions required to optimize their products for specific end markets.
These key additions to Medin’s leadership team caps a record year for the company, marked by the second consecutive year of 20% growth in Medin’s core business and the successful acquisition of Advantage Manufacturing Technologies (AMT) in June 2019.
“In 2019, our revenues increased by over 40% on an annualized basis, driven by the continued growth of our core business and the accretive impact of our acquisition of AMT. In addition, we completed the implementation of our first Lean Manufacturing Model Line in our Totowa, NJ facility, marking the successful culmination of a major project for a key strategic customer. We are pleased to have achieved strong growth during a critical transitional year for Medin. We continue to focus on making significant investments in 2020 to accelerate our ability to serve the growing needs of our customers,” said Bill Donaldson.
About Medin Technologies, Inc.
Medin Technologies, Inc., headquartered in Totowa, New Jersey, designs and manufactures a variety of medical products, with a focus on highly engineered, custom-designed sterilization cases and trays for many of the world’s leading providers of orthopedic implants and instruments. The company collaborates with leading medical OEMs around the world to provide visually arresting, exceptionally durable, and highly reliable sterilization cases that showcase the brand identities of its orthopedic and surgical device customers. A supplier to the medical industry for more than 50 years, Medin is known for its vertical integration, advanced manufacturing capabilities, superior quality, and short lead times to meet its customers’ needs. Medin is owned by Seven Point Equity Partners, a private investment firm headquartered in Westport, CT. For more information, please visit www.medin.com.
Medin Technologies, Inc.