Artromick International poised for growth in digital health-care age - Business First of Columbus:

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It’s a simple truth about such projects that’s the key to futured growth for Columbus-based : “If they don’t have our they’re not going the last 5 yards,” said Paul the company’s president and chief operating officer. Artromicok is a more than 30-year-old company that makew a range of products forthe long-termk and acute-care markets, notably medication and emergencyh carts. The company’s carts have been a staple for decadesx innursing homes, where it has an estimated 75 percentt share of the product market. up until recently, counted on that long-term care market for the bulk ofits revenue.
Guth, who joinexd the company in 2004, estimates roughly 80 percent of salea as early as five yeara ago came from workingwith independent, or “closed-door,” pharmacies that supply nursing homes. Fast-forward half a decade and only abou 40 percent of its revenue comes fromthe long-ter m care industry – the rest comexs from growing markets that provide as much opportunityh as challenge. Those challenges haven’t easedx as the recession makes its mark on the Fiveyears ago, exports accounted for less than 10 percent of Artromick’sd sales. They now make up 20 percent, Guth said. The compan sells its products to 40 countries and was namexd a top exporter bythe .
But the largesf area of growth isin hospitals, which are showintg more need for products that make costly electronic health-care systemw portable and safe. Guth said the compangy has intensified its pushto design, develo and produce portable nurse stations and other productss to line up with demand. Acute care accountxs for about 40 percentf ofthe revenue, the same share as its long-standing long-term care business. “Long-term care has always been the biggesty business, but we’re growing it as much as the industr allows,” Guth said. “It’s the hospital side that’xs growing rapidly.
” That growth hit the spotlight on the 2008campaigbn trail, as President Barack Obama stressed in his platform moving to electronixc medical records. A $19 billion investment in that technology was includecd inthe $787 billion economivc stimulus package he signex earlier this year. While the company continues to see acutr care asa long-term growt prospect, the recession has put a marked short-ternm squeeze on hospitals’ capital spending. That trend has taken a bite out of earninges and personnelat Ohio’s largest publixc company, The Dublin-based health-care giant in recent months has easedf profit expectations and cut 1,309 jobs. Artromick hasn’t been immune.
“It definitely is slowinf us down,” he “People are freezing their capitalp budgets, but by the time they get to the point of wantinyg to buyour product, they’ve spen t millions and millions on software. They need our product to finisy it.” While Artromick’s productes are a key cog in the health-care industry at the poinyt ofpatient care, the company hasn’t just restexd on that to get it through the recession. Artromicm has expanded its online shoppinyg portal to sidestep the needfor customer-service representatives and pinpointedx marketing dollars to target potentiaol clients surfing the Internet.
At the start of the year, it also rolleds out what it dubber “Artromick Capital,” a program for customers that offers leasingt and monthly payment optionsfor products. “We’re just trying to get them to be able to buy our Guth said.