Top 100 CEO Interviews
Issue No. 39 - February/March 2008
Macular conception
Medical technology company Ellex Australia has a split personality. The rapidly growing company has CEO Peter Falzon based in the US leading company’s charge in its markets overseas while COO Kevin McGuinness manages head office in Adelaide.
“It’s a better way to manage the two sides of the operation given the advantages of basing our manufacturing and R&D out of Adelaide but with all of our major markets being overseas. Peter spends one week in six in Adelaide to stay in touch with the factory” says Kevin, who has been CFO for five years and added the COO role 18 months ago.
Kevin has overseen a period of profound change. Ellex’ core business is manufacturing medical laser equipment for treating eye disease. In the middle
of 2006 Ellex took the bold step of launching its
own brand, having begun life as a manufacturer for other labels.
As well as significantly reducing reliance on OEM manufacture, Ellex has broadened its product base, adding ultrasound devices for scanning the eye.
And by acquiring its Australian distributor, Ellex has been able to put greater focus on its brand and achieve a channel to market for its new products. Before the takeover, Ellex’ turnover through the distributor was up to $1.5million per year. It has jumped to $6million per annum.
“But for us to justify the investment in direct sales we needed to have the product range to justify the investment,” Kevin says. Ellex has invested significantly in product development over the past four years to expand its product range from two products to seven.
While this development has been significant, the firm’s recent initiatives in advanced research development could change the world.
Traditional laser treatments for retinal diseases including macular degeneration, the eye disease that threatens sight in old age, is to attack the retina and destroy tissue to prevent the disease spreading, thus saving the ...
