Bringing Medical Products to Market: The Case of Orthera
- Date
- 13 Mar 2012
- Time
- 6:00pm - 7:15pm
- Venue
- NUS University Hall auditorium, Lee Kong Chian Wing Level 2
Synopsis:
Founded in 2001 in San Diego, CA, Orthera is a leading developer and manufacturer of medical and custom made orthotics products which are distributed through US based medical and retail channels. Orthotics are biomechanically engineered, supportive in-shoe braces which relieve foot, knee and back pain, increase performance in sport, prevent injury and accommodate many medical conditions as e.g. diabetes. Historically, high quality orthotic products have been distributed through medical providers as Podiatrists, Orthopedists, Physical Therapists, Chiropractors, etc., at end user price points in excess of US$400, with only approximately 15% covered by insurance. Lower end retail based products by such well known sources such as Dr. Scholl’s or other insole products are grossly inferior and as a result fail to provide solutions to some 60% of the population that need structural support for relief of pain. The company’s proprietary product line is retailing for US$29.99, and delivers over 80% of the benefits of a full custom orthotic but at only 5-10% of the price. The product is currently being sold through the US$80bn US wholesaler COSTCO.
About The Speaker:
Thomas Pichler is the founder and CEO of Orthera. Prior to Orthera, Thomas was the cofounder and member of the executive team of Simplexis, Inc. a Silicon Valley based supply chain management Software Company. Before Simplexis he was the strategic assistant to the highly acclaimed CEO of Porsche Automobiles where he learned how ‘lean manufacturing’ can transform a company making it the most profitable in its industry. Prior to Porsche, Thomas was a Finance Manager with Procter & Gamble. He holds a Masters degree in engineering from the University of Technology Leoben, Austria and an M.B.A. from Harvard University.