Going against the tide, investing in #technology #innovation and creating new alliances, recruiting to find new skills, strengthening links with suppliers and rethinking the range of products to meet the new needs linked to the #health emergency. Even starting-up a brand new plant in Poland. This is what MTD did since the COVID-19 pandemic outbreak.
Today in an article in Economia del Corriere della Sera, one of Italy’s leading economic newspapers.
A plant and two new business units: the group, known for its Pic brand, grew by 10% in 2020 and brings syringes to the USA
By Diana Cavalcoli
Going against the tide, investing while many companies preferred to reduce risks, recruiting in the midst of a pandemic to find new skills, rethinking the range of products to intercept the new needs linked to the health emergency. This is how Mtd – Medical Technology and Devices – a multinational company that develops safety needles and medical solutions, from insulin needles to patches, passing through catheters and syringes, has managed to grow at double figures, responding to unprecedented peaks in orders. Syringes, in particular, are a key device in the Covid-19 vaccination campaign. The demand for syringes has grown exponentially,” explains Micol Fomaroli, CEO of Mtd, a group created two years ago from the integration of Pikdare and Htl Strefa. “We have increased production in a very short space of time, bringing around 300 million syringes onto the markets since last March. Around 100 million of these have been earmarked for vaccination campaigns”. This result was made possible thanks to the evolution of the business model, investments of around 8 million in technology upgrades, the creation of new alliances and the start-up of a new plant in the industrial district of Bydgoszcz, Poland. A winning bet if you look at the numbers: Mtd’s turnover in 2020 grew by 10% to over 240 million euros. And the first quarter of 2021 will close with even higher growth: +30% overall with peaks of 50% in some key markets including the United States, the Middle East and Asia Pacific. The secret, explains the CEO, is flexibility combined with the courage to take risks. “We have not stood still. We have focused on new skills and technologies, setting up a short decision-making chain. In terms of the supply chain, we have strengthened links with suppliers, mapping out all possible options,” she adds.
This flexibility has also enabled Mtd to contribute efficiently to the procurement of syringes for the huge US market. In 2020, the company was commissioned by the US Department of Defense to supply safety syringes and needles for the vaccination campaign. We were asked to do this,” says the CEO, “and we and other companies in the sector made ourselves available. I remain convinced that the United States can become one of the reference markets for us in the long term”. Mtd has continued to invest in research and new technologies, and in June will launch a new solution on the market: low dead space syringes. These are syringes,” says Fornaroli, “capable of reducing the amount of drug residue inside the device to a minimum, optimising the extraction of the vaccine from multidose vials. This means wasting as little drug as possible and therefore vaccinating more people in the future with the same amount available. But there’s more. “We don’t intend to stop here; our goal in terms of overall production is to exceed 500 million units per year,” she says. Of course, syringes are not the only thing in the group’s future. Mtd also works to serve hospitals and pharmacies, ensuring the supply of plasters, gauze, catheters and pen needles used daily by diabetic patients. The group has also been involved in mass screening throughout Europe. In particular, Mtd has set up two business units that have worked to meet the high demand for Covid diagnostic tests and to develop new products. We are talking about the “Covid” task force, focused on the immediate introduction of safety devices and tests for mass screening into the portfolio, and “Mtd Engineering”, dedicated to technological innovation. It is no coincidence that during the pandemic the group employed more than 400 people, including several engineers. “When everything around you changes, you have to change your perspective from within: you can’t just play defence, you have to introduce discontinuity, look around you and find new areas for growth in the short and medium term,’ concludes Fornaroli.