Medical Tech Could be The Cure

Prosthetic fingers and robotic seal puprs figure in a sector of Southwest Florida's economy that could be on the edge of a growth spurt. A handful of medical technology companies—primarily focusing on medical-device manufacturing and distribution—already are well established in the region, doing business globally and tapping non-local revenue sources.

"The industry itself is growing so rapidly," says Bill Knab, CEO of Naples-based Matrix Technology Management, which works with early-stage companies to bring their products to the market.

Our region is poised to benefit from that growth. Among the signs of potential are plans by John Madden Co. to build a bioscience and technology park by Southwest Florida International Airport—a plan that has earned enthusiastic support from local government, academic and business leaders. And BioFlorida recently launched a Southwest Florida chapter, which Knab heads up as chapter chairman. The nonprofit bioscience organization plans to work with economic development organizations, academic institutions, manufacturers and others to grow a bioscience cluster, he says.

Knab points out that Southwest Florida boasts a strategic geographic position between hot spots St. Petersburg/Tampa and Miami. The 25 or so local medical-device developers and manufacturers—most of whom are selling products to clients outside the region and Florida—are already laying the foundation for a strong biotechnology industry in the region, he says.

"Most areas that [have] grown successful biotech clusters start with medical devices because it’s easier to get up and going," Knab says. "As those companies bring in more researchers and more people, you get into the larger, biopharmaceutical types of companies."

Paul McCullers, co-founder of Fort Myers-based Innovative Medical, is also optimistic. "It’s an exciting field that I think is just going to continue growing," he says.