Trace Medical targets new pain points

WHITEMORE LAKE, Mich. – Trace Medical is on the precipice of a large expansion of its business, preparing to add biomedical services for a number of respiratory products to its offerings. 

The company, whose core competency is renting ventilators, has a goal of acquiring 15 repair service centers in the next 12 to 18 months, says Elliot Campbell, executive vice president and chief commercial officer. 

“We have a full pipeline; we’ve begun to vet potential targets,” he said. “We are well on our way to achieving that goal.” 

While Trace Medical is not backed by investors, the company “has the resources available” to make the acquisitions, Campbell says, not to mention an executive team that, altogether, has acquired and integrated more than 50 companies. 

Trace Medical’s diversification play comes at the request of provider customers who are struggling under today’s supply constrained environment, Campbell says. 

“It’s showed us that you can’t just purchase new assets to get out of things,” he said. “You have to keep what assets you have going, and you have to work with a company, like ours, that can keep up with your infrastructure and that can support you properly to keep those assets going.” 

As part of the expansion, Trace Medical is building out a technology platform to help its provider customers, especially those covering multiple geographies, keep track of and monitor product condition and availability. 

“We can say the local office in Albany has 17 oxygen concentrators, 14 POCs and nine vents in service, and of those in service, three are awaiting parts, six are waiting to be redeployed and the rest are under repair,” he said. 

As a sign of its seriousness, Trace Medical has also added a chief technology officer, Dallas Johnson, to its executive team. Formerly, Johnson was the president and co-founder of a digital services firm focusing on digital and operational innovation. 

“As we bring forth a tech-based biomed department, we’ve made an investment to put together a sound program and back it up with an industry expert,” he said.