Why are we making this change?
As a business, we have to be incredibly flexible if we’re to outperform the market and capture more customers than our competitors. We need to try things, assess whether they’re working, and then pivot as necessary.
Simply, we can’t let inertia or fixed thinking slow us down.
When we originally looked at the naming and branding of our different divisions, we anticipated that there would be a fair degree of overlap between MW Components and MW Life Sciences. We believed this would present opportunities for us to cross-sell products between the divisions and grow our business.
What we’ve since learned is that, while there is some overlap, it is not as significant as we thought. In fact, we see greater opportunities in having two standalone brands — one for industrial components and one specifically focused on the medical market, dedicated to growing our revenues across the healthcare sector.
What’s changing and when?
As a result, we’re bringing MW Life Sciences under the Paragon Medical name.
Paragon Medical already has a strong brand in the orthopaedic market. With the right focus, investment and additional skills and capabilities within the current Life Sciences business, we believe the brand will be able to expand into the medical and surgical markets.
Over the coming weeks and months, you’ll see changes in how we brand Paragon Medical as the healthcare-focused division within MW Industries. This will be focused on helping Paragon Medical both strengthen its presence in its traditional orthopaedic sector and make significant gains in the wider life sciences market.
Harnessing the opportunity
With today’s customers hungry for ever-deeper, ever-more integrated expertise, we believe the newly combined Paragon Medical offering can become a major force in the broader healthcare market. We see significant opportunities for growth as harness the combined skills across our current Paragon Medical and MW Life Sciences businesses. And we’re committed to providing the support needed to make it a success.