Case Study: Cynosure- Medical Device Product Development and Contract Manufacturing
Cynosure is a leading developer and manufacturer of a broad array of light-based aesthetic and medical treatment systems. Cynosure products are used to provide a diverse range of treatment applications such as hair removal, skin rejuvenation and scar reduction, as well as the treatment of vascular lesions. Five years ago, Cynosure’s new management team was looking for ways to become more competitive. Management decided to focus on reducing production costs and increasing the speed at which they could bring new products to market. Cynosure looked to Coghlin Companies to achieve their objectives.
Cynosure asked Coghlin Companies to assist with two objectives. They needed to simultaneously transition to a complex, modular, legacy product line out of their internal manufacturing environment and into Columbia Tech’s production facility and provide quotes on rapid prototyping and scaling of a new state-of-the-art product likely to revolutionize the clinical laser market.
Double Pronged Solution
In response, Coghlin Companies developed two in-house independent project teams to demonstrate the need to focus specifically on each projects’ unique set of needs, without missing a time-to-market opportunity. Coghlin Companies completed the transition of the legacy product line over a nine-month period. At the same time the second team developed a New Product Introduction (NPI) plan which included developing precise documentation, capital equipment contract manufacturing of medical devices, quality control inspection, functional testing, packaging and world-wide fulfillment.
Client Satisfaction and Success
Cynosure has found that working with Coghlin Companies works well because Cynosure is very much a part of the process, can see if weekly delivery requirements are met, and that it improves their cash flow. The arrangement also works because the contract menu makes the process completely open and above board with competitive quotes received on all projects. This is important because with Cynosure it is a race to get quick turns on prototypes so they can bring new designs and new systems to market before competitors.
Saving Money and Beating the Competition
Cynosure leveraged their capital by eliminating thousands of square feet of manufacturing and logistics space, reduced their head count, and saved thousands of dollars in cost of goods sold as a result of collaboratively leveraging Coghlin Companies vast supply chain. Overall, product lead time has decreased and inventory turns have dramatically increased. Coghlin Companies enabled Cynosure to expedite their new product development, focus on and increase their IP, and lead their market with product innovation as well as broaden their overall product offering.
Through this endeavor Coghlin Companies once again demonstrated its ability to provide NPI services, ramp up the production of multiple product lines simultaneously, provide comprehensive global logistics and help a Coghlin Companies client grow and profit.
From Concept to Commercialization, you can trust Coghlin Companies with all of your design, engineering, prototyping, capital equipment contract manufacturing, logistic, field support and refurbishment requirements. Coghlin Companies provides Concept to Commercialization services to entrepreneurs, Fortune 500 companies and all segments in between. With each of those segments Coghlin Companies has earned a reputation for dependability, versatility, and quality. Success has been the result of Coghlin Companies’ ability to establish a close partnership that generates significant value and ROI for each client. What are your organization’s needs? How can Coghlin Companies help you achieve your objectives?
What can Coghlin Companies do for you?
Coghlin Companies can help you design, engineer, and manufacture your product too. Make your vision a reality and prosper.