Hoskins pushes growth at Octex through enthusiasm, planning

Sarasota, Fla. — There's an energy and enthusiasm at Octex LLC that's palpable and seemingly infectious.

Maybe it's the sunshine of Sarasota. More likely, it's the vision of President John Hoskins and his team that's sprinkled with youthful leaders. Either way, this contract manufacturer/injection molder is expanding physically and on its balance sheet.

Examples abound.

This month, Octex moved equipment into its newly constructed 4,000-square-foot white room. This room for medical molding has a reflective deep blue floor and wall of windows that give office staff a needed view into the work room, connecting shop to office.

In the fourth quarter, Hoskins said the company will expand its clean room to 6,000 square feet.

These moves are all part of the company's master plan, which by the end of 2020 will see the complete reconfiguration of the building, moving the entrance to the current rear of the complex. Outdoor meeting places and a nature area for employees will be included.

"We really want a unique experience. We have 305 days per year of sunshine," he said.

There's more.

The company's in-house lab — currently at 3,000 square feet — will expand to 10,000 in the next two to three years. That lab, formerly Octex Labs, now goes by the name Omnia Scientific.

All of this is on the heels of the 2015 purchase of Choice Tool & Mold Inc., which is housed in newly refurbished digs next door to Octex.

A website relaunch is also three months out to help keep current and prospective customers up to date on all of Octex's seemingly ever-changing capabilities.

This growth stems from the company's decision to move deeply into the medical device market, leaving consumer drinkware late last year. Hoskins points out, however, that Octex remains committed to the consumer and industrial markets and its current partners.

Hoskins estimates the company's sales at less than $40 million today. The company has a three-year goal of $50 million and an ambitious target of "nine figures" or more than $100 million in five to 10 years.

"Targets are first brush strokes. We're not going to limit growth. But we don't want to throw away what made us who we are. We've got to remain relevant to our partners," he said.

Octex will expand organically and through acquisitions. Hoskins pointed to geographic areas like the West Coast, East Coast, Indianapolis and Minneapolis as potential points of interest, especially given those regions' high level of expertise in the medical market.

Let's revisit the lab. Omnia Scientific, like ​ Choice Tool & Mold, is its own operating company and one of the areas that Hoskins points to as clear separation between the Octex group of companies and its competitors.

Since purchasing a Zeiss CT scanner in October 2015, the lab has improved product speed to market. In fact, Hoskins estimates they are delivering some products up to 95 percent faster than the competition.

"We can do first articles nearly in real time," he said.

What's his response to those who would accuse him of hyperbole?

"Come down any time. We do it every day. We have people who understand art and science. We've automated the software and come up with our own programs that allow us to have speed and accuracy," he said.

What about other companies who own the same type of scanner?

"You can have someone who's a brilliant person who can run a scanner and come up with absolutely incredible measurements. So that's what you've got. But they can't tell you what it means. They can't tell you how to fix what's wrong. That's really where we really shine," Hoskins said.

Hoskins has been with Octex for three years. He says making sure he's doing everything he can for his staff keeps him up at night. He also spends time thinking about connecting the impact of medical device manufacturing and the people they help.

"If you've had a loved one — a daughter, a son, wife, mother, brother, father, grandma, cat, dog — I ask everyone to think about that. They were in surgery and you were worried if they were going to get out. But they come through it and they're alive. The feeling of sheer joy. That feeling. How can we, as an organization, connect to that feeling? How can we help deliver that every day? If we can harness that power and share that feeling with our partners and inside our organization, that's the most noble pursuit," said Hoskins, emphasizing that Octex is focused on improving patient outcomes and lowering the cost of health care.