John Strong is the president of World Product Centre Marketing.
Much has been said and written in recent months about plans in New York, Cleveland and Nashville for a permanent “Medical Mart.”
Coverage to date has treated each of the three projects as similar in kind, focused primarily on real estate news — the buildings themselves — and the stage of development of each project. The conventional wisdom seems to be that whichever venue opens its doors first will be declared the sole “winner” because the health-care industry can support only one such resource.
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World Product Centre’s developers and partners view the competitive landscape and barometers for success differently. For WPC, success lies in creating unique and sustainable value for participating companies and health care at large. Whichever of the three locations achieves that, achieves victory. World Product Centre will provide companies doing business in health care with the most valuable platform to succeed in an industry currently undergoing significant change.
World Product Centre in based on three key pillars: commerce, education and collaboration. None of these pillars are dependent on real estate, per se. Rather, the pillars rest on WPC’s location and permanence-enhancing visibility, ensuring continuous and relevant traffic, housing unique facilities and most importantly – supporting transparency.
Located in the heart of Midtown Manhattan, World Product Centre is positioned to attract unparalleled regional, national and international attention. A highly visible health-care destination in a city expecting to welcome over 440 million domestic and international visitors across the next decade, World Product Centre is in the heart of one of the leading medical, financial, media and cultural capitals of the world. In an era where both industry and provider “codes-of-conduct” restrict entertainment and recreational activities, prohibit resort destinations, and limit travel reimbursements and other remunerations, New York City and World Product Centre offer a solution: a serious, yet exciting business destination.
The local landscape of hospitals, academic medicine, practicing physicians, nurses and allied health-care professionals ensures an instant audience — not one dependent on trade-show traffic and conference events. The region enjoys one of the highest concentrations of acute care hospitals in the country, with 145 facilities within 50 miles of World Product Centre and 582 facilities within a 300-mile radius.
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Equally important, the area enjoys one the nation’s richest environments of practicing physicians, nurses and allied health-care professionals. The region is also recognized as a global center for academic medicine, home to 14 medical schools, almost 25 percent of all American teaching hospitals, more than a dozen world-renowned academic medical centers and over 20,000 medical and surgical residents and fellows. Forty percent of all American teaching-hospital beds are within a half-day’s drive of World Product Centre. Health care in the United States is often viewed regionally; World Product Centre puts companies in the middle of one of most vibrant and important health-care regions.
With state-of-the-art facilities to showcase and support hundreds of health-care companies, World Product Centre provides benefits to both buyers and sellers. For health-care purchasers, WPC is a single, convenient, and accessible location to evaluate, compare, stay current and make purchasing decisions from a complete array of medical device, diagnostic, technology, and support services. For health-care vendors and suppliers, it offers visibility and a neutral customer-rich environment to regularly conduct marketing, branding and business development. Our eleven Charter Partners to date are testament to the value the WPC commercial platform offers.
The second pillar of World Product Centre is health-care educational programming conducted and sponsored by non-profit organizations and industry. We are currently working with leading medical and professional organizations on partnerships to support a robust calendar of unique CE/CME programming. Along with a planned 125,000 square foot Education Center, WPC is forming a not-for-profit educational foundation and seeding it to insure the attraction of the right mix of programming.
Our goal is to partner with thought leaders across multiple disciplines and those organizations representing the next generation of healthcare and medical education. One example of WPC’s unique educational resources is a planned state-of-the-art medical and surgical training and simulation center operated by a world-renowned non-profit provider. We anticipate several announcements in the coming months regarding our progress.
Finally, World Product Centre offers a transparent platform for industry-networking to promote strategic partnerships, acquisitions and collaboration. Promoting a multi-disciplinary and integrated approach to health-care product and service procurement and education, World Product Centre can be leveraged to improve efficiencies, reduce costs, and support the delivery of high quality cost effective care.
To support this, we are developing several commercial and educational “Centers of Excellence.” These Centers offer health-care providers, leading associations and participating companies unique resources and facilities to support commerce, education, training and the advancement of knowledge and collaboration within distinct disciplines of healthcare.
Centers under development include a health-care design center and a center dedicated to showcasing healthcare innovation. The design center will service the health-care design, construction and furnishings industries and will feature product showcases, architectural showcases, simulated clinical environments for trial and customer feedback and “rooms of the future” such as a “patient room of the future,” “surgical suite of the future” and “trauma center of the future.”
WPC is currently in discussions with a leading non-profit professional association to oversee the design center. The innovation center will bring together innovative emerging-growth companies with the world’s leading venture capital firms, private equity, and other industry players. This space will be a “hub” of what’s new in health care, and will provide rich material for the broadcast and print media, as well as those in the local and international investment community.
Given World Product Centre’s location, unique facilities and planned Centers of Excellence, we estimate hundreds of thousands of regional, national and international physicians and key health-care decision makers to visit annually representing the full health-care delivery continuum — hospitals, continuing care facilities, physician offices, ambulatory care centers, and other health-care facilities.
We are excited about the future and what WPC offers to the industry. We wish the developers in Cleveland and Nashville success in developing resources that will further healthcare. Our collective story is about the next generation of healthcare commerce and education, not “Medical Marts” or real estate.
