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SolMed Business Process Definition
 
SolMed Market Outlook and Competitive Strategy for Solar Battery Products

SolMed Core Product Line

  • Hospital emergency generator adaptor units for solar panel hookups.

  • Surgical suite operating lights with remote solar panel feeds (for field hospitals).

  • New and replacement solar panels for surgical suite lighting unit.

  • Surgeon's light-beam headband with solar power from surgical suite lights.

  • Replacement solar cells for surgeon's light-beam headband.

Product Development / Research & Development Focus

  • Photovoltaic Batteries – Smaller device form factor, more energy and longer photovoltaic battery life

  • Solar Panels – larger storage capacity, more durable solar arrays/panels

Product conversion of small device product lines obtained from Welch Allyn which utilized conventional power sources will speed development of high growth photovoltaic products.

  • Monitor/Defibrillator Devices - The PIC Systems are part of SolMed’s complete resuscitation solution - including early defibrillation, basic emergency devices, multi-parameter monitors, and patient management systems - capturing critical data at every level of care.

  • Automated External Defibrillators - Automated External Defibrillators (AEDs) are part of SolMed's complete resuscitation solution - including early defibrillation, basic emergency devices, multi-parameter monitors, and patient management systems - capturing critical data at every level of care.

  • Spot-Check Devices - From the innovative and customizable Spot Vital Signs® LXi to the affordable Spot Vital Signs, SolMed spot-check devices make vital signs measurement fast, easy, and accurate. And with a range of configurations and mounting options, you can choose the device and parameters that best meet your unique needs.

  • Multi-Channel Electrocardiographs - Introducing a new family of multichannel electrocardiographs that are flexible enough to work in any setting. These reliable, easy to-use devices were designed using proprietary SolMed technology to make taking ECGs a snap. With an intuitive design and advanced software features, these EMR-ready devices can help make your practice more efficient by allowing you to quickly administer patient tests and manage patient information.

Product Strategy

During the spin-off a number of important product lines from Welch Allyn and Danforth Manufacturing Corporation were transferred to SolMed which now comprise the bulk of SolMed products. SolMed is currently developing photovoltaic batteries for several Welch Allyn products that will enable SolMed to begin manufacturing defibrillators, spot-check devices and multi-channel electrocardiographs with a smaller device form factor (a key market area identified from recent market surveys of leading medical facilities). SolMed hopes that the technology and engineers they inherited from DMC and Welch Allyn will enable a quick product turnaround to offset the low initial investment that the two parent companies made.

 

Market Outlook

Continued high growth in the medical photovoltaic and solar panel/cells market continues at a rapid pace as the medical industry looks to medical technology companies for viable solutions to the high cost of conventional energy costs. In particular the growth potential in solar panel technology and photovoltaic batteries in the medical industry

 

Total Market Potential over the next 5-7 years is $60 billion dollars.

 

SolMed’s Competition

SolMed is committed to helping the medical industry in their quest to solve the everyday challenges faced by frontline healthcare providers by developing innovative and energy efficient medical products.

 

Preliminary assessment of SolMed’s competition in the solar panel and photovoltaic battery industry indicate a large growth potential for SolMed if they can beat the competition to market with a superior product line. SolMed is also benefiting from a mature product line transfer from DMC which primarily focused on large solar panel design and development and should provide SolMed with much needed income during the crucial first few years for the spin-off.

 

Company officials at SolMed say their future lies in the design and development of small form factor photovoltaic medical field devices; primarily defibrillators, spot-check devices and multi-channel electrocardiographs that industry experts have slated for high-growth potential over the next 20 years. In order for SolMed to succeed in the this market segment they must quickly develop the next generation of photovoltaic battery technology.

 

Competitor Name Description Market Share Location
Spire Biomedical Tech Inc. (Spire Bio) A relative newcomer to the solar medical field Spire Bio has primarily focused on catheters in the medical field and large solar manufacturing equipment (not related to the medical field) and is not considered a major player in the photovoltaic field. Less than 10% of the domestic market and no foreign sales to date Newark, NJ

California Solar Medical Group (Cal Sol Med Group)

Located in California’s Silicon Valley Cal Sol Med Group has attracted some top engineers that it hopes will help develop new product lines to challenge industry leader Candid Medical.

3-5% Domestic

18% International

 

San Jose, CA

Candid Medical Technologies Company (CMT)

Founded in 1963 CMT is the oldest and most established industry leader in the solar equipment field but has struggled financially since Hurricane Katrina devastated the corporate headquarters and main research facility in August of 2005. The company’s solar research and development facility located just outside New Orleans was completely destroyed along with CMT’s data center design and manufacturing equipment (fortunately no one was injured).

72% Domestic

40% International

 

CMT’s primary focus has been to rebuild in the wake of Hurricane Katrina. As a result R&D has been placed on the back burner.

 

New Orleans, LA
 

 

 

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