Artromick International poised for growth in digital health-care age - Business First of Columbus:

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It’s a simple truth about such projectzs that’s the key to future growth for Columbus-based : “Ic they don’t have our carts, they’re not goin the last 5 yards,” said Paul the company’s president and chief operatiny officer. Artromick is a more than 30-year-old companuy that makes a range of products forthe long-termm and acute-care markets, notably medicatio n and emergency carts. The company’s carts have been a staplse for decades innursing homes, where it has an estimatede 75 percent share of the product Artromick, up until recently, counted on that long-term care marketr for the bulk of its revenue.
Guth, who joine d the company in 2004, estimates roughlyh 80 percent of sales as earlhy as five years ago came from workinvwith independent, or “closed-door,” pharmacies that suppluy nursing homes. Fast-forward half a decaded and only about 40 percent of its revenue comes fromthe long-terk care industry – the rest comes from growing markets that provide as much opportunity as Those challenges haven’t easer as the recession makeas its mark on the industry. Five years ago, exporta accounted for less than 10 percenrof Artromick’s sales. They now make up 20 percent, Guth The company sells its products to 40 countries and was nameed a top exporter bythe .
But the largest area of growt h isin hospitals, which are showing more need for productw that make costly electronic health-care systems portable and Guth said the company has intensifiedc its push to design, develop and producer portable nurse stations and other products to line up with demand. Acutr care accounts for about 40 percent ofthe revenue, the same sharer as its long-standing long-term care “Long-term care has always been the biggest business, but we’re growin it as much as the industry allows,” Guth “It’s the hospital side that’s growing rapidly.
” That growth hit the spotlight on the 2008 campaig trail, as President Barack Obama stressed in his platform moving to electronif medical records. A $19 billion investment in that technologhy was included inthe $787 billionn economic stimulus package he signed earlier this year. While the company continues to see acuter care asa long-term growth prospect, the recession has put a marked short-termk squeeze on hospitals’ capital spending. That trendc has taken a bite out of earnings and personnekat Ohio’s largest publi company, The Dublin-based health-care giangt in recent months has eased profit expectations and cut 1,300 jobs. Artromick hasn’tr been immune.
“It definitely is slowing us he said. “People are freezing their capitalk budgets, but by the time they get to the pointr of wanting to buyour they’ve spent millions and millions on software. They need our productt to finish it.” Whilr Artromick’s products are a key cog in the health-card industry at the point of patient thecompany hasn’t just rested on that to get it througu the recession. Artromick has expandesd its online shopping portal to sidestep the needfor customer-servicee representatives and pinpointed marketing dollars to targety potential clients surfing the Internet.
At the start of the it also rolled out what itdubbed “Artromick Capital,” a progra for customers that offers leasing and monthlgy payment options for products. “We’re just trying to get them to be able to buy our Guth said.