ED Assignment 2 by 311140

Medical Equipment products business plan

Executive Summary
Medquik Inc. is a healthcare system development organization that plans to style, certain, and industry
healthcare gadgets related to endoscopic medical areas. Three gadgets have already been designed with
the contribution of leading doctors and doctors in gastroenterology. Seven patents are originally
integrated. The organization desires to have Rs. 500 thousand in income by year five. Patent programs
on its first three industry records have already been achieved using a top certain law firm.

The industry are clearly described and all are subject to a high growth trend. One industry is estimated
to surpass Rs160 thousand in the next three years. That is the endoscopic varietal ligation industry. One
of the creators of Medquik took part in the style of the industry leader in that area and has improved
upon the item significantly. Another industry details a well-defined and unanswered need in endoscopic
surgery: the cleaning of fundal private pools of blood and tissue during operations. A new and
impressive style has been created to answer the needs of doctors.

This industry should begin at Rs 200 thousand but could increase to several hundred thousand as soon
as mortgage approvals are obtained for many different operations. Medquik plans to certificate this
technological innovation to a larger organization. The organization becomes older in season three. The
organization is potentially successful in season one only if a suggested certification contract can be shut.

Mission
The objective of Medquik. is to style, develop, and industry new trademarked technological innovation
in the healthcare system area. The technological innovation will complete industry areas that each
account for a minimum of Rs. 200 thousand in potential product sales. Each technological innovation
will complete a present need in medical techniques by enhancing upon a current technological
innovation or system, or by developing a system to serve a need that is clearly described and recognized
by doctors. Each item shall be priced to entice a managed-care industry that pressures cheapest of total
treatment factors.

Products
Medquik, Inc. will originally sell three unique items.
The Visi-power, a non-reusable system that is used in endoscopic techniques.
The Visi-Galore, a partly non reusable system that is used to eliminate blood vessels clotting during
various endoscopic operations.
The Visi-Lysto, a suction system for laparoscopic techniques.
The technological innovation used in these items is the topic of seven patents in the program.

Sourcing
Primary raw components needed for Medquik items are as follows:

Molded plastic content areas.

The pedaling and shapes (capital expenditure).
Band content (polymer).
Small engine unit.

All of these elements are easily procured and several providers have been recognized. Moreover,
hypodermic injection molders have been recognized to produce the shaped elements for Medquik
items. There are several prospective resources.
A prospective resource for additional research and design help and conformity is Mylapore medical
devices in Chennai.
Medquik will execute last set up and submission from its own service in Chennai or using agreement
production based on the level of financial assistance from the state government of Chennai.

Market Analysis
The two key factors impacting discussion of Medquik Inc.'s market are the surgical procedures and
product usage research and the customer or chain of submission concerns.
In both cases the styles are up-wards in the favor of Medquik. Banding is expanding as well changing
trends in medical treatment and handled proper care pressures cheapest of complete treatment. The
following sections explain how both offer great market prospective to Medquik.

Market Segmentation
The prospective clients of Medquik, Inc. are both household and international.
Domestic clients include handled proper care categories, hospital purchasing categories, physician
categories, independent doctors, and other (catalogues) and healthcare supply houses. The marketplace
is covered with handled proper care categories. More than 50% of all buys of healthcare devices are
made by these categories and that is prediction to reach 75% by 2020.
The international market contains many of the above sections but also contains key suppliers. For
example, only four suppliers are required to go through the European, Middle Southern, Africa, Central
and South American and Japanese people markets. These suppliers have already been recognized.
The following graph demonstrates the estimated count of these purchasing categories that exist. But
initial focus may be more defined by focusing on the largest 50 clients in each section. This data is clearly
definable and available.

Industry Analysis
The healthcare market in the India has been covered with handled proper care and medical center
buying categories. Smallest sum complete therapy has been the progress of the costs design. Medquik is
preferably placed to take advantage of this pattern. There has been a fast pattern to endoscopic ligation
from the past standard of medicine for the following reasons:
Fewer post-op problems.
Better control of blood loss.

Lower risk of re-bleeding.

Reduction of over-all therapy price.
Positioned preferably for handled proper care.
Current experiments available.
The growth of banding has been as high as 30% per one fourth according to IMI. The top 25 to 50 clients
in each market classification may account for as much as 70% of the potential business, making it easy
to focus on clients with a multi-channel tiered technique. The international marketplaces may be
occupied originally with as few as four key suppliers.

Strategy Summary
Medquik, Inc. will engage in particular, definable, market with a multi-tiered, multi-channel approach.
We will make use of our technological innovation with a certification contract in one key place and a
network marketing and submission strategy in the other using recognized suppliers.
We will look to international marketplaces first with recognized suppliers for preliminary income.
Household income will adhere to. Large categories and programs will be focused first.

Marketing Strategy
Marketing will adhere to from market and company and doctor attention techniques to particular
accomplishments instructed at particular customer sections. The top level of 20 to 30 customers in each
section will be assaulted first. Only a few item sales strikes in these top levels will allow accomplishment
of focused predictions. Medquik will achieve its preliminary item sales objectives from immediate and
allocated item sales of the Visi-power this item is focused first since it is a current, well-defined market
and 510k acceptance is expected. Globally item sales through suppliers will provide needed income.

Promotion Strategy
Public interaction, market press, will help in over-all market attention programs. Feature articles and
testimonials will help release attention. Mail to purchasing categories and ads in company journals will
help with customer opinions. Lastly, all will be incorporated with doctor materials and training video
footage once acceptance has been acquired to increase point-of-surgery utilization.
Medquik has already proved helpful carefully with doctors to design its items. The significance of
working with doctors is well known. As a result of our Physician Advisory Board, Medquik will definitely
hire allied doctors with subsidized activities and workshops. Every significant market will be focused. An
yearly event will also be subsidized.

Pricing Strategy
Pricing for the Visi-Power is Rs.25000 per device. Terms are 2% 10 days, net 30. All selections in this plan
for income reasons are based on an average 45 day selection period. Our 80% total edge allows for
considering receivables if that should become practical or necessary.
A 30% discount will be provided to suppliers. Amount discount rates are not involved but remain
possible in discussions with significant purchasing categories.
The Visi-Galor is priced in two components:

The electric device at Rs. 60,000.

The cutting/irrigation/suction element at Rs. 2000 (disposable).

Sales Strategy
Medquik's item sales method to open international marketplaces on a restricted basis at the end of '98.
To fully manipulate them in '99 along with preliminary transmission of the US market with the Visipower). Then to grow both marketplaces in 2000 up to a 10% transmission.

Additionally, the method to certificate the Visi-Gator to a significant company such as J&J due to its
improved regulating specifications and preliminary marketing costs due to the fact that it is a new
section access. The purpose for the certificate is as Rs. 500,000 fee, Rs. 500,000 in advance royalties and
a 10% royals level per device. Royalty forecasts are involved in '99 and '00 item sales predictions.