Global Medical Industries, Inc., the area's first minority owned supplier of products for the medical device industry, is now located at the Urban Enterprise Center, 1830 Wayne Trace. A ribbon cutting ceremony celebrating the opening of the new business is planned for 1 p.m. Thursday, January 26.
Company founder Victor Lopez, who has 20 years of industry experience, serves as president and CEO of the full-service manufacturing company, while his wife Judy Lopez serves as human resources/office manager. Global Medical anticipates expanding its current team of four to 12 employees by year-end 2017.
Global Medical’s principle focus will be the production of precision parts for the medical device industry. The company will specialize in manufacturing cost-effective, complex implants and instruments, including products for surgical procedures involving the upper and lower extremities, the spine, and large joints. A secondary focus will be supplying products for the aerospace industry.
In addition to working directly with medical and aerospace manufacturers, Global Medical’s certification as a Minority-Owned Business will provide opportunities for prime contractors to win and maintain government contracts that have supplier diversity spend goals or set-aside requirements for doing business with minority-owned firms. Global Medical will be in compliance with ISO 13485 and FDA 820 guidelines and will be known for its quick turnaround time and cost-effective, quality components, according to Lopez.
Lopez says he is pleased with the various community leaders and business organizations that have supported his vision. His main mentor from the medical community has been local orthopedic surgeon Dr. Michael Arata. He also has worked with Robert Clark at Elevate Ventures, which provided him with a start-up grant; Wes Shie, regional director of the Northeast Indiana Small Business Development Center, who provided assistance with a business plan, financial projections, funding referrals and business strategies; and Angela Grant from First Federal Bank, who helped with providing the funding needed to support the start-up business.
By locating in the Urban Enterprise Center, which is operated by the Fort Wayne Urban Enterprise Association, Global Medical is eligible for personal property tax abatements on its equipment for ten years. The Urban Enterprise Association is set up by State statute and is a non-profit designed help revitalize Fort Wayne’s urban core.