When we founded EndoChoice in 2008, I was working from my basement in Atlanta with little more than an Internet connection and an idea.
We emerged into the global market like many companies — slowly. In 2012, we discovered innovative technology in the early stages of development in Israel. This technology would give gastrointestinal providers a tool to find 69 percent more pre-cancerous polyps than the standard colonoscope. Now in production, our Fuse Full Spectrum Endoscopy system is a game-changer and could help eliminate colon cancer entirely.
After we discovered this technology, the biggest challenge was connecting a global manufacturing and supply chain. We acquired Israel-based Peer Medical to gain more capabilities in innovation, and the German endoscope manufacturer RMS Endoskopie-Technik to allow us to scale in early 2013.
As a growing organization with different cultures and practices, the large-scale export business posed even bigger challenges. We source small, specialized technologies and components from around the world, bring them to Israel and Germany to construct the product, and distribute the completed Fuse system globally from Atlanta. The process — from sourcing and distribution to taxes and laws — is complex. We can’t do it alone.
We’re Atlanta-based, so we reap tremendous benefits from the city’s metropolitan export initiative, which bridges organizations, companies and universities overseas. Global trade support from Atlanta’s Global Commerce Council also provides a competitive advantage.
However, we couldn’t have realized this growth without the right leadership and partnerships. Building on past experiences is critical. We take great care in choosing leaders who know what they’re doing, and business partners who understand the nature of our product and global trade.
Take logistics. An endoscope is a highly complex, fragile instrument used to examine the gastrointestinal system of a patient. It costs more than most cars. We’re not shipping a commodity product, so we were fortunate to find an Atlanta-based logistics partner that understands our process, values precision and has health-care experience.
Last year, EndoChoice was deemed the fastest-growing med-tech company in the United States by industry analysts. With more than 2,000 customers worldwide and a compound annual revenue growth rate of more than 100 percent since we began in 2008, we continue to expand our portfolio of med-tech devices, diagnostics, infection control and endoscopic imaging that serves gastrointestinal health-care professionals in 34 countries.
While we expand our reach, we’re aggressively pursuing research and development and working to uncover the next big thing in innovative technology for gastrointestinal care. It’s the only way to stay ahead of the market and our competitors.
In six years, our idea has become a global reality. We’re making a wonderful impact on patients’ lives through numerous local and global partnerships.
Mark Gilreath is founder, president and CEO of EndoChoice Inc.
