It was back in 1987, when under the leadership of Ed Sloan, ReMedPar pioneered the aftermarket medical parts market, providing diagnostic imaging and biomedical parts to a small number of end users.
Today, it is a portfolio company of the Boston-based private equity firm, Berkshire Partners and has more than 3,000 customers around the world.
"ReMedPar's business has been able to grow substantially for a several reasons," says
Mark Suffridge, senior vice president, sales and marketing. "Firstly, we have an unwavering culture of quality in our parts, people and processes. That has always been the anchor of our business. We listen to our most important two assets, our customers and our employees. By really understanding our customer's business and their pain points and problems, we have been able to react to their changing markets by serving them better."
In addition to parts, ReMedPar offers training, technical support, Parts ID and part repair capabilities.
"There is a strong misconception out there that all parts providers are equal and the same. This is far from the truth," Suffridge says. "We have the largest stocked warehouse of parts in the industry, with over 20,000 parts ready to ship from our 100,000-square-foot facility."
The company also has 50 test bays for just about every model of predominant diagnostic imaging equipment, where parts are tested and retested to ensure they operate to all manufactures' stringent specifications. They also employ flying probe technology, which tests circuit boards for all types of potential problems or failure.
"At ReMedPar it took us 25 years and tens of millions of dollars of investment in our infrastructure and business to develop this high level of quality," Suffridge says. "Continual improvement and a commitment to reinvestment in our business is what has made us the industry leader."
Last year, a new management team came on board and has began altering the company's business objectives.
"We have a management team in place that has committed itself to a culture that will focus on the customer. We have upgraded and changed some processes that have made us even easier to do business with," Suffridge says. "We are very excited about our present management team; we have never been more structured for success than we are presently."
iTubeNow Program
To that end, ReMedPar is developing and implementing several new programs that will positively affect its customers in the near future. The most notable of which is the revolutionary iTubeNow, which includes the tube, onsite installation support and onsite training for technicians.
"iTubeNow provides a critical component in the roadmap to parts and service independence," Suffridge says. "We have discovered that providing the high quality replacement tube is not enough. Our customers need training and onsite assistance to install the tube. They also need this support immediately, as [reducing] downtime is critical."
Looking ahead, ReMedPar expects to continue to grow and remain a leader in the parts industry.
"Due to our great relationship with our customers, we have been able to grow to the largest parts provider in our industry, with more inventories, more quality processes, than any other company," Suffridge says. "From our technicians to our customer service representatives, we are always acquiring new information on markets, customers, and how to serve them better. The customer's input is a big part of our continuous improvement process."
