Collagen Matrix, Inc. Celebrates 15th Anniversary in the Medical Device Business
OAKLAND, N.J., June 25, 2012 /PRNewswire/ -- Collagen Matrix, Inc., Oakland, New Jersey, celebrated its 15th year anniversary with its nearly 100 employees, stockholders and guests at a gala event held at The Tides Estate in North Haledon, New Jersey. The event provided an opportunity to reflect on the accomplishments over the past 15 years and to renew the commitment to the future increased growth and prosperity of the company.
Dr. Shu-Tung Li, Ph.D., President, and Chief Executive Officer, founded the medical device development and manufacturing company in 1997 based on sound technology drawing from his ten-year academic career and thirty-year industrial experience in healthcare as the foundation on which to build Collagen Matrix. Dr. Li faced the challenge of building a start-up medical device company with minimal resources. In an effort to preserve shareholder equity, Dr. Li began writing grant proposals to raise funds for research to support the business. Due to his innovative concepts and expertise in grant writing, Dr. Li was awarded $8 million in grant money over a six year period that culminated in the development of medical devices that could be sold to generate revenue.
Today, Collagen Matrix is a highly profitable company selling over 30 medical devices in more than forty countries worldwide and enjoys revenue of over $30 million. The Company's technology is protected by many U.S. patents. Collagen Matrix has marketing, private label and distribution agreements with medical device industry leaders for global distribution. The continuous innovation and launching of new products each year from 2001 to present earned Collagen Matrix the 16th place on the 2009 New Jersey's Fifty Fastest Growing Companies list.
In 2010 Collagen Matrix expanded its operations in October by the addition of a 28,000 sq. ft. facility at 15 Thornton Road, Oakland, New Jersey, which serves at the company's corporate headquarters. Collagen Matrix relocated the majority of its manufacturing processes, Quality Control laboratory, R&D, warehouse, and the administrative group to the newly renovated state-of-the-art facility located in the McBride/Oakland Corporate Park. The new facility is about three miles from the company's 16,000 sq. ft. Franklin Lakes manufacturing and warehousing facility.
About Collagen Matrix: Collagen Matrix, Inc. is a leader in the design and engineering of collagen- and mineral-based extracellular matrices for tissue and organ repair and regeneration. Since its inception in 1997, the Company has received many government grants for the development of collagen-based matrix products in the areas of neurological, vascular, urological, and orthopedic tissue regeneration applications. The Company currently manufactures collagen- and mineral-based finished medical devices in the areas of neurosurgery, oral surgery, orthopedic-spine surgery, and wound care. More information about the Company can be found at www.collagenmatrix.com.
SOURCE Collagen Matrix, Inc.