Anaheim, Calif. — Leominster, Mass.-based Beacon MedTech Solutions has appointed James Colony as its president to drive growth and strengthen quality at the company.
"[Beacon] got hit hard by the COVID cliff," Colony told Plastics News at MD&M West in Anaheim. "The last year has been challenging in that we have to build up the infrastructure for new product development, especially engineering and quality.
"Business volumes were just enormous" amid the pandemic, Colony said, "then … business dropped off."
"Everybody thinks about COVID just hitting the medical markets, but it hit everything," he said. "Everybody bought too much inventory. Not only did the medical business fall off to nothing, parts of it, but the rest of the business slowed down as well.
"We predicted sales would start to come back in the first quarter of 2024, and that's exactly what's happening," Colony said, adding that nonmedical sales picked up at the end of 2023.
Beacon specializes in making impellers for pharmaceutical mixers for vaccines and other drugs.
"The supply chain gets glutted with these things," Colony said. "But … these specialized impellers all have a shelf life after they're sterilized. That shelf life is expiring. So those parts aren't usable anymore."
Colony said he gauges market demand by new FDA drug approvals. More FDA approvals mean higher demand, and fewer approvals mean lower demand. "It is that simple," he added.
In the medical supply industry, "patient investors" help the company to "weather the storm" when the supply chain is held up, Colony said.
The company will focus on strengthening its quality management system, a new product development process and shortening lead times, Colony added.
Besides the medical, life science and biopharmaceutical markets, Beacon supplies the aerospace, defense and technology markets.
Colony initially joined Beacon MedTech Solutions "in an interim capacity" in March 2023. Beacon Manufacturing Group's board of directors confirmed Colony as president of the subsidiary in August 2023. He previously held leadership roles at international manufacturers Anderson Power and Hughes Aircraft.
"His background in aerospace, medical and plastics manufacturing will help facilitate the company's continued growth and support of customers across technology-driven industries," the company said in a news release.
"I wanted to pursue a role as Beacon MedTech's president because I truly believe in the company's value proposition of vertical integration and broad materials expertise," Colony said in the release. "I'm excited to be part of an organization with a committed and passionate management team that brings deep experience in quality, regulatory and compliance."
"We are extremely excited to have Jim join the Beacon MedTech team given his substantial experience in leading growth-oriented companies and building cohesive and effective teams," Carr Preston, board member of Beacon Manufacturing Group, said in the release. "His interim success demonstrates his leadership will play a pivotal role in building Beacon MedTech's future."