Robin Martin nurses MST to success.
Revolutionizing the syringe industry. Our first landmark was the first round of raising capital--$670,000 in 62 days, far exceeding our initial goal of $500,000. Since then, we have raised an additional $1 million. With those funds, we have strengthened our patent position worldwide, built two sets of production molds, grown inventory to a half-million units, and signed a $2 million contract for distribution in Canada. The road has not been easy, but we have stayed on course to revolutionize the syringe industry. We have aggressive plans to introduce six other safety-related products over the next 24 to 36 months, which have similar or better features than our first flagship product, the Turtle Safety Syringe. If we carve out just 3% to 4% of the syringe market within five years, we should do very well for our shareholders. All but one of the products we plan to introduce have been patented or have a patent application pending.
Protecting lives. We have faced many challenges. One of our main obstacles was producing good production molds. We chose a company we thought competent to make them, but it failed to make molds that worked properly. We learned our lesson and made a new set with the best mold-maker we could find. Now, we have new molds made to our specifications that work right the first time. These have shaved over 25% out of the cost of the product, while doubling our production capacity. Another challenge was establishing the quality-assurance (QA) system. We now use the most stringent QA class in the industry, designed to produce less than one complaint per one million units sold. This level of quality is very difficult to achieve, but we have by making it every employees' job to briefly inspect and test the parts and look for any defects at each station in the assembly line. By the time the parts get to our official first inspection station, 99.5% of the defects have already been taken out.
Employee incentives and recruiting young people. We promote employee incentives for good job performance, and, as we grow, plan on offering tuition reimbursements. My personal goal is to improve and advance the lives of all our employees, whenever possible, through higher education and better working conditions. Again, as a fairly new company, student scholarships or recruiting programs are definitely among our important future objectives. To me, the most critical element in attracting young people to the medical laboratory industry will be improvements in safety.
President, CEO, Chairman of the Board, Medical Safety Technologies Inc., 2001.
AS, Nursing, Angelina College, Lufkin, TX.
Enjoys chess, spending time with family, "date nights" with his wife, and other outings.
By Gary Dixon, Associate Editor
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|Title Annotation:||Executive snapshot|
|Publication:||Medical Laboratory Observer|
|Article Type:||Occupation overview|
|Date:||Jun 1, 2008|
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