Kevin Bly, CEO of New Age Medical, a rapidly growing medical device company, talks about strategies and innovations that have fueled the company's impressive growth.
We explore what's next for product expansion and diversification and how private equity backing has influenced their scaling efforts.
Additionally, Kevin shares his insights on the future of orthopedics.
About New Age Medical
New Age Medical is a fast-growing player in the medical device space, making a significant impact with its innovative orthopedic solutions. Backed by private equity, the company has seen impressive growth, expanding its reach and offerings.
The company has gained recognition for its unique spinal implant and orthobiologic products. It supports over 7,000 surgical cases annually and has over 125 surgeon partners.
Kevin Bly, the co-founder and CEO of New Age Medical, is a seasoned medical device executive with years of experience in the industry. His leadership and vision have been key to the company's growth, driving innovation and expanding its product offerings.
Dive in to learn more about New Age Medical's journey and vision for the future!
Kevin Bly's Interview
Q: New Age Medical has experienced rapid growth since its founding in 2012. What strategies and innovations have been key to achieving this fast growth?
Kevin Bly: The core to our success is our ability to be nimble and flexible in working to bring value to our stakeholders. For example, we never envisioned that we would be the vendor at hospital systems, but this strategy evolved in response to the direction the market was moving with hospital supply chains consolidating vendors.
Q: With a solid track record of success, New Age Medical has raised private equity investments. How has private equity (PE) backing helped you? How has this partnership influenced New Age's approach to scaling?
Kevin Bly: We reached an inflection point in our business where we needed to make a choice on our growth strategy. We decided that professionalizing and scaling New Age Medical was best for the organization and our stakeholders. Our PE partner has helped guide us through the process of transitioning from a distributorship into a company.
Q: New Age Medical is known for its unique spinal implant and orthobiologic products. What opportunities do you see for further product expansion or diversification?
Kevin Bly: Beyond geographic expansion and continuing to introduce new technology in the spinal implant space, there is the opportunity to broaden the product offering to include other products in our portfolio, like joint reconstruction or trauma. We have also been approached to vertically integrate and become a manufacturer. These are not strategic initiatives at this time but may be in the future.
Q: How do you envision the future of orthopedics with macro trends like increasing ASC/outpatient surgeries and a move towards a more value-based healthcare model?
Kevin Bly: The future of orthopedics, and healthcare in general, will continue to move toward evidence-based medicine, where patient outcomes are evaluated and costs are more closely aligned with outcomes.
Q: What is your vision for New Age Medical in the next five to ten years?
Kevin Bly: My vision for New Age Medical is to build the largest independent distribution organization in the US that becomes the preferred partner for manufacturers, hospitals, surgeons, and distributors.
Q: Tell us a little about your experience with Enhatch. How have Enhatch's cutting-edge solutions helped you on your scale-up journey?
Kevin Bly: Enhatch is the tool that has allowed us to support our growing sales organization in a high-quality manner. It allows us to compile data including hospitals, surgeons, products, and pricing, and interact with our stakeholders in a professionalized manner. Enhatch also provides us with powerful analytics to help us understand our business.
About Enhatch
Enhatch simplifies 3D planning for printed solutions, aiming to make surgeries faster, safer, and smarter. Our Intelligent Surgery Knee software streamlines preoperative planning and creates patient-specific guides using advanced AI for precise modeling, setting new industry benchmarks.
