Puritan Medical Products: In 2020, the old family company has become the most important manufacturer in the world. A remote medical supplier Mainee executed the effective structure of a family business that can meet the historical challenge. Now let’s look how they make a hiking track of lucrative business.
How has Puritan Medical Products started?
The co-owner of Maine’s Puritan Medical Products, Timothy Templet receives a call from the US assistant secretary for health, Brett Giroir. He wants to know; how fast Puritan could wind up nasal swabs production.
Two hours later Scott Welman, who is the general manager of Puritan receives a call that is sent straight to the voicemail. Later he finds; the Angus King from Maine senator wants to save the Puritan swabs on behalf of his senatorial colleague.
Reason for emergency calls to Puritan Medical Products
The reason for emergency calls was not the state’s secret. Because it was released through the morning newspaper: President trump is exposed to the virus, A third NBA player was tested positive for coronavirus, and others. Hence, several cases of coronavirus have been reported but it was not a drill.
The measure of unprepared challenges of Puritan Medical Products
While the media was focused on waking up the health officials and medical experts for the emergency. The curative treatments and effective vacancies were far off, and the supplies needed for the difficult times were scant. The nation was suffering from shortages of personal protective equipment, and medical machinery like hospital beds and ventilators.
Every news and health official was emphasizing testing more. Experts agreed that there was zero chance of defeating the novel virus until they diagnose it. It was important to detect the disease to identify who needs treatment and by isolating the infected to slow the spread. But the Asymptomatic patients were 40% -the real challenge.
What is Puritan pride?
Hence, making COVID testing universally and widely only had the potential to save millions. It was the only key to keep essential workers on their job to run the economy wheel. But Welman and Templet have learned from their Saturday call that they were short on their supply.
There were only two companies in the world making nasopharyngeal swabs, which are important which are used for the COVID 19 testing. Their production was estimated at around two million per month unit, just 5 percent of 40 million monthly for the US.
Nasopharyngeal was a polyester tufted plastic stick on one end. However, Maine’s Puritan Medical Products were earlier famous for making toothpicks.
Gradually Puritan had made his business model on diversification, which was on low-profit margin. The company manufactures 65 types of swabs and 1200 products range from in-home testing kits which are cheek swabs. These kits were the first-generation coronavirus test kits. In 2020, the company set out the extreme specialization for testing kits.
Scott Welman said:” Every time you at your phone you can go to get a call from the government agency”
Revenue of Puritan Medical Products
Puritan was reported with an annual revenue of $45 million. Through the Cares Act and the Defense Production Act Puritan received total contracts of $126 million. In other words, outfitted, gutted, and leased a 100,000 square foot factory. This factory was increasing its production by the end of March 2021.
The company will bring the new plant online that will increase its capacity by 50 million swabs monthly. By observing the previous results Puritan will increase the production more than 30-fold in the previous year.
The Goal of Puritan Medical Products
Welman and Templet are not looking at the victory lap while the nation is suffering from the second wave. But they have this idea that their story will resonate with the end of this pandemic. Puritan executed the lighting-fast expansion that was not only best for the company’s mettle but also the power of public-private partnership. Also, the potential of Yankee ingenuity, while hanging ten thousand lives in balance.
Welman admits that at the time of managing the catastrophe there were a lot of doubts and questions. Like how we will manage this? And how many times they must do just right? While reflecting on how Puritan staff will assist in saving livelihoods and lives. They are the people who will work for him on the upcoming projects.