NextPhase Medical Devices
In January 2015, KCO made a control investment in the initial platform, Nexcore Technology, in partnership with the Company’s founder and CEO. In July 2017, Nexcore Technology acquired Phase 2 Medical Device Manufacturing. From this acquisition, NextPhase Medical Devices was launched.
Thesis
As people live longer and seek a higher quality of life, innovative medical devices are continuing to play a bigger role in outcome-based healthcare. Medical device OEMs are looking to shorten time to market while reducing costs, and will increasingly outsource non-core manufacturing to third-party contractors with design/manufacturing expertise.
Company
Founded in 1999 and headquartered in Waldwick, NJ, NextPhase is a contract manufacturer of electro-mechanical capital equipment to the medical device industry. NextPhase’s capabilities cover the complete spectrum of the medical device manufacturing product life cycle, from conceptual design and engineering through to manufacturing and after-market service and support.
KCO Value Add
- Created detailed 100-Day Plan to guide executional priorities.
- Driving formal sales and marketing strategy to expand existing customer relationships and to develop new business opportunities.
- Implemented formal strategic planning and budgeting process.
- Applied enhanced financial reporting and controls, including flash reports, operational dashboard and audited financial statements.
- Structured the financing to allow for ongoing liquidity, working capital and future acquisitions.
- Developed an advisory board that includes industry veterans with deep domain expertise and strong relationships.
- Recruited President & Chief Executive Officer.
- Recruited SVP & Chief Financial Officer.
- Recruited SVP Sales & Marketing.
- Recruited SVP Human Resources.
- Recruited VP Engineering.
