As the medical sector lives a bright period in terms of production and profit, losing a single link in the supply chain can derail an entire business. General Manager Ivan Mangone points to digital platforms as the way to adjust to new constraints and keep business going.
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In the past months, we’ve seen global society come together like never before. In facing this global crisis, companies around the world have stepped up to provide solutions as well as support.
None more so than the health care/medical industry. In the past month alone, 71% of healthcare deals posted on Opportunity Network were related to COVID-19, representing $885 million in deal value.
The network has seen a six-fold increase in connections as the 28,000+ members look to the online platform to help keep their firms running. Ivan Mangone, General Manager of Progetti Medical Equipment Solutions is one such member.
Business at the forefront of COVID-19
“Our company has tripled our production of monitoring equipment, defibrillators, and ventilator parts. We’re aiming to get as much equipment where it’s needed, as quickly as possible. Through Opportunity Network we received many requests worldwide. Unfortunately after the export lockdown for some devices we have been forced not to support our customers,” shared Mangone.
“As medical and critical care manufacturers we are at the forefront of this need. We’re fully supporting hospitals, front line workers, patients, and all others through this emergency.”
Progetti is known for its high-quality products, the result of Italian technology and know-how. Customers can expect reliability and customized solutions, as well as a “Made in Italy” quality assurance.
The company was founded in 1991 by chemist and international medical management specialist, Cesare Mangone. Today, it’s one of the main defibrillator producers in the world, as well as one of the biggest international players in the medical sector. Originally based in Milan, the company has since moved to the North-West of Italy, near Turin. The epicenter of Italy’s COVID-19 outbreak.
“The medical sector is now living a bright period in terms of production and profit,”says Mangone, “But we can’t forget that this situation is the result of years of little to no investment in the hospital sector. We have to learn now how to do better in the future.”
Supply chains in jeopardy
“For my own business,” says Mangone, “we’re looking to change our philosophy on how we establish business relationships. In a critical period like this, where many companies struggle to stay open, we cannot afford to lose even one link of our supply chain.”
“As we seek new partners to shift our supply chain, accommodate new constraints, we’re connecting increasingly via digital platforms.”
This is the problem facing companies across industries. As traditional methods of doing business are no longer an option, digital platforms are stepping in.
“Companies need help now”, says Brian Pallas, CEO & Founder of Opportunity Network. “More and more companies are facing liquidity crises. They are missing critical suppliers to be able to ship as well as to be able to pay their people. Supplies are in very short order everywhere. We are able to connect businesses with the capital they need to keep going, as well as help them find partners as they face disruption”.
Taking chances in uncertain times
“Generally speaking, I think that we’ll see new brilliant companies born during this period. Companies that will change the mentality of the industry as well as create business diversification,” Mangone shares.
“At the same time, we will see other companies fall into bankruptcy. Although most will likely not be in sectors like ours, which are now working harder than ever, in the end almost all sectors are interlinked somehow. The medical industry will be hit by the disappearance of some partners in the supply chains, and this will affect how we innovate and produce.”
However, Mangone believes that this crisis will open doors to new opportunities, especially when it comes to medicine taking a further leap by embracing new technologies.
“Today we must pay attention to the new needs that come from a market that will be different after COVID-19. For more than 10 years we heard about telemedicine, but it has never reached its real use. Perhaps this is the time to test these new technologies, allowing home checks as well as treatments in absolute safety for both patients and doctors.”