Dr. Gregory Theyel of the Biomedical Manufacturing Network Shares Highlights in California’s Biomedical Industry

On July 28, 2016,  Dr. Gregory Theyel of the Biomedical Manufacturing Network spoke at the MedStart Speaker Series held at Shriners Hospitals for Children in Sacramento.  Dr. Theyel provided updates on what initiatives his organization has been working on as well as the successes and challenges faced by the biomedical industry in California.

The Biomedical Manufacturing Network offers biomedical manufacturing business assistance, technology transfer and education to grow the biomedical industry cluster.  MedStart continues to collaborate with the Biomedical Manufacturing Network and share information between the two organizations.  Dr. Theyel has monitored the number of companies in California in the biomedical industry, “We track the number of biomedical companies in California and there are currently over 4,100.  The numbers are not exact as new companies are starting all the time, many are acquired, and some go out of business.  The biomedical industry is growing strong and creating jobs in California.”

MedStart has been sharing information with the Biomedical Manufacturing Network to help improve the knowledge of what our local companies have been accomplishing and how our region fits within the rest of the industry in California. The Sacramento region, with over 150 companies is home to roughly 4 percent of companies in California in the biomedical industry.  Matt Phillips, director of MedStart comments, “The Sacramento region, including the surrounding counties that Medstart represents, continues to see strong growth. More than 20 new companies approached us in 2016.”

According to Dr. Theyel, the biomedical industry is very diverse and the top five sectors — healthcare technology, pharmaceuticals, life sciences, biotech, and medical devices — constitute the majority of vendors in this space. Dr. Theyel shared numbers for the largest sectors in California, which include:

• Healthcare Technology Companies – 900
• Pharmaceuticals – 792
• Life Sciences – 529
• Biotech – 500
• Medical Devices – 350
• Healthcare Distributors – 299
• Digital Health care – 256
• Biological Products – 163
• Genomics – 106

According to MedStart’s numbers, the Sacramento area has a strong presence in the healthcare technology, life sciences, and medical device sectors.

Dr. Theyel shared the success of the Biomedical Manufacturing Network includes their work with local universities in offering internships.   He is not only involved in mentoring and business assistance, but also shares industry needs with the local universities, community colleges, and local government to keep them  better informed on today’s job requirements.