“The SBTDC has helped me take risks and compete with
larger businesses with more confidence.”– Freddy Cannady
In 2005, Freddy Cannady lost his job to outsourcing overseas like so many other employees of large corporations. After spending 30 years at a medical device company, it was a bit nerve-wracking to be out of work. However, Freddy saw it as an opportunity to take control of his family’s future.
Freddy founded Vesocclude, a small medical device manufacturer located in Raleigh, North Carolina. He brought jobs back to the United States by re-employing some of his skilled former colleagues. After five years of process and product development, Raleigh’s Vesocclude entered the market in 2010 with its first US and export customers. Vesocclude specializes in the advanced development and manufacturing of ligation products by a team of highly-skilled and experienced professionals who manufacture superior manual ligating clips and user-friendly loading devices for multiple medical specialties in the United States.
Freddy began to utilize SBTDC services as early as late 2005. In 2012, Vesocclude came to the SBTDC for assistance with finding export working capital to prepare for increased product demand from Europe. SBTDC International Business Development Specialist (IBD) Alex Viva has worked with Freddy to assess SBA and Ex-Im Bank export working capital programs, review distribution agreements, and financials. Alex also obtained a Campbell University MBA student with a medical supply background to help develop an international marketing plan. Vesocclude implemented plans to go green by using easy-to-open soft blister product packaging that will create less waste for hospitals and landfills, which has already increased Vesocclude’s visibility around the world.
“Alex anticipated my needs before I knew I needed them” Freddy says of the IBD team member’s resourcefulness.
With the SBTDC’s support, Vesocclude is successfully competing with many large corporations in price with superior quality, including the same company that outsourced his and some of his colleagues’ former jobs to reduce costs. Vesocclude’s export reach and sales are growing including over $1 million in new sales to Europe, Japan and Mexico. Exporting in 2011 made up 38% of sales, and it’s projected to soon grow to 60% in 2013. In the first half of 2012, Vesocclude created 8 jobs, and continues to work with other North Carolina businesses to manufacture products.
“The SBTDC has helped me take risks and compete with larger businesses with more confidence,” said Freddy.