MedSource Labs, a medical device manufacturer, today announced the launch of NxtMed™, a unique initiative that focuses on two key components -- Sustainability and Corporate Social Responsibility (CSR).
| CHASKA, Minn., Jan. 20, 2020 /PRNewswire/ -- MedSource Labs, a medical device manufacturer, today announced the launch of NxtMed™, a unique initiative that focuses on two key components -- Sustainability and Corporate Social Responsibility (CSR). This effort is part of an outgrowth of our purpose to advance people’s lives through improving patient outcomes. “As many influential leaders and policymakers converge at the World Economic Forum’s meeting in Davos to discuss sustainability, we understand that even the smallest firms can make a profound and fundamental difference that encourages corporate social responsibility, while pursuing economic growth,” said Todd Fagley, CEO of MedSource Labs. “As a company, we pledge to make a meaningful difference in the sustainability of our business, our communities and our planet. The time of being short-sighted to simply maximize quick profits are long over – in every industry, and it is our responsibility to leave a healthy and sustainable environment for future generations.” Sustainability As part of our company’s commitment of reducing medical waste, we will leverage our resources, insights, expertise, and scale to help clients better manage sustainability challenges, reduce medical waste, and capitalize on new opportunities. In the U.S. alone, hospitals create an estimated 5.9 million tons of biohazardous and other medical waste every year, which is equivalent to 33 lbs. of waste per staffed bed every single day. According to the World Health Organization (WHO), of the total amount of waste generated by health-care activities, about 85% is general, non-hazardous waste comparable to domestic waste. WHO identifies ways to improve health-care waste management, which include promoting practices that reduce the volume of wastes generated and ensure proposer waste segregation and favoring the safe and environmentally sound treatment of hazardous health care wastes (e.g., by autoclaving, microwaving, steam treatment integrated with internal mixing, and chemical treatment) over medical waste incineration. NxtMed Recycling Our Recycling program helps customers manage used medical products and reduce waste. The program includes the collection, transportation, and recycling of select medical products. Corporate Social Responsibility Code of Conduct We have modified our Code of Conduct specifically created for the purpose of ensuring that our vendors and suppliers around the globe put into place safe working conditions and their employees are treated with respect. Components of our code of conduct include a renewed focus on Labor & Human Rights and Standards, Environmental Policy, and Ethics. Fair & Equitable Trade As a small medical manufacturing company, competing in the marketplace requires unhindered access to locations all around the globe. We are strong advocates of promoting fair and equitable trade pacts that are healthy for any country or industry. It provides an environment where a company such as ours can maintain cost controls while also delivering products to our critical customers – patients that need it the most. Giving Back to Our Community The company has always been proud to support our employees’ passion and commitment to volunteering and giving as part of our approach to responsible growth. We know that community needs are great, and one of the ways we can play a role in helping to address tough issues is by connecting our employees to meaningful opportunities to help advance economic and social progress. For several years, our employees have participated in various humanitarian efforts, such as in Haiti, and we’ve donated thousands of medical supplies to key nonprofit organizations to deliver to developing countries around the globe. About Us MedSource Labs is a leading medical product developer and supplier specializing in high-quality products and innovative medical product development. By delivering top-quality products and solutions at cost-effective prices, MedSource Labs has been helping improve patient outcomes since 2002. The privately held company, headquartered in Chaska, Minnesota, serves health care professionals including emergency medical providers, hospitals and surgical centers, veterinarian and dental providers, and government agencies.
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