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On-Belay turns medical device profits into philanthropy: 5 insights

By  Megan Wood | Wednesday, 02 August 2017 19:57
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On-Belay Medical is gaining steam in the medical device industry with its unique business model, according to WBIR.com.

Here are five insights:

 

1. On-Belay Medical — coined as such to mean 'one secured by another' — came about in 2011.

 

2. Founder Mark Slaughter came up with the idea to convert medical device profits into philanthropy after his son was sent to the ER during a football practice.

 

3. The idea is to turn over those profits for charity, such as feeding the hungry and disease research.

 

4. So far, On-Belay is operating in five states and has donated $300,000. Additionally the company has donated 33 million medical implants.

 

5. Jay Crawford, MD, of Knoxville-based East Tennessee Children's Hospital, is an early supporter of the company's mission. He told WBIR.com: "The traditional business model for providing implants generates lots of profits that go other places and On-Belay helps us keep that here in East Tennessee…"

 

More articles on devices:
K2M reports 10.9% Q2 revenue increase, $9.1M net loss: 7 things to know
Mazor Robotics sells 14 Mazor X systems in Q2, revenue jumps 87% to $15.5M: 7 things to know
InVivo Therapeutics reports INSPIRE study updates; reports one death unrelated to study — 5 things to know

 

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