Maxtec Finds Global Revenue Growth at MEDICA Trade Fair
Salt Lake City-based Maxtec LLC, a leader in oxygen analysis and delivery products for more than 15 years, joined World Trade Center Utah in November for the MEDICA Trade Fair in Düsseldorf, Germany.
MEDICA is the world’s largest event for the medical sector and has dominated the market for more than four decades. The latest fair attracted more than 5,100 exhibitors from 70 countries. Each year, leading individuals from the fields of business, research and politics grace the top-class event alongside tens of thousands of national and international experts and decision-makers from the sector.
Maxtec, a manufacturer of replacement oxygen sensors and SpO2 probes compatible with all major applications in the market, joined four other Utah companies to participate in the MEDICA Trade Fair with support from the STEP Grant awarded by WTC Utah. STEP is funded in part through a grant with the U.S. Small Business Administration. The other Utah companies attending included BioPharm Laboratories LLC, PenBlade, Inc., ScyTek Laboratories, Inc., and Summit Medical Products, Inc.
With a world-wide customer base, Maxtec is well-known for its oxygen analyzers and monitors in both medical and non-medical applications. The company’s range of products also include pulse oximeters, neonatal products, air-oxygen mixers, ventilator and ventilator support products applicable to the hospital, homecare and anesthesia markets. During the MEDICA Trade Fair, Maxtec leaders held numerous meetings with current and prospective customers and partners to discuss its present and future business strategy, provide product training and demonstrate new products.
In a post trade fair follow-up, Maxtec reported to WTC Utah that MEDICA was a very productive fair. It allowed the company to meet with multiple partners from across the globe to discuss training, strategy and planning. What’s more, Maxtec achieved significant product sales while at the fair and expects its annual sales to grow more than 10%, primarily with expanded sales to India, Japan and China, because of its participation as part of Team Utah at MEDICA. The trade fair also provided a significant opportunity for the company to discuss upcoming barriers and current regulatory requirements, and to be introduced to regulatory consultant companies that could offer advice as Maxtec pushes to add new countries to its export list.
In another exciting MEDICA-related outcome, Maxtec was awarded a new partnership with Fisher & Paykel – India, which will account for additional revenue growth over the next 12 months in both India and Japan. Company leaders note that pricing negotiations are complicated in these regions, which see many low-cost devices from China. By adding value in other areas, Maxtec was able to compete with local products and win a very promising partnership with FPH – India.
Founded in 1991, Maxtec is located at 2305 South 1070 West in Salt Lake City, where it is led by Bruce Brierley, co-owner, president and chief executive officer. The company moved to its new, 58,000 square-foot manufacturing and corporate facility in 2015. Located on a seven-acre site, Maxtec is only five minutes from downtown and the Salt Lake City International Airport. The company employs 90+ people and provides each of its worldwide customers with unwavering passion, unconditional trust and integrity, and the highest level of service. For more information visit maxtec.com or call (800) 748-5355.