Primo Medical Group Works Hard and Banks Easy

07/11/2018

Primo Medical Group is an industry leader in the development, manufacture and assembly of quality medical devices and precision machined components. Headquartered in Stoughton, MA, Primo Medical Group chooses Blue Hills Bank for their commercial banking needs. We asked Primo Medical Group’s hard working Steven Tallarida (President, CEO & Partner) and Chris LaPlante (Chief Financial Officer) what makes their company unique and why they bank with us. Here’s what they had to say.

Steven Tallarida: We are a contract device manufacturer who volume manufacture for the large med device companies, and the second side of us is we’re a development house that will look at niches in the med device community and say, “Where do we want to get involved?” And try and you know develop stuff that we believe that the medical community could use.

One of the fun things about the medical device industry is you can develop a full medical device. So for those entrepreneurs the med device is a good opportunity because you can do the whole device.

 

Chris LaPlante: And they’ll be afraid of it. It’s so easy to be concerned with, you know, what’s gonna happen if you know it goes wrong? Well, it goes wrong for a lot of successful entrepreneurs that first couple times out there.

When you’re in the med device space, from time to time, you’ll come across somebody that you know has used our product. A couple years ago, there was a gentleman, when we were building out some of the space in our Stoughton [MA] facility. A worker there was hanging drywall and he said, “Oh you guys make these ports,” and I said, “Yeah.” And he literally started to cry because his mom was going through chemotherapy and needed a port and it turns out it was one that we actually made. So that was kind of really rewarding. When those things happen that really makes it worth it.

Having the right relationship with your banker, for me on my side of the world, goes a long way because we’re always doing stuff in the med device world where it takes a little bit of an explanation as to what we’re doing and why we’re doing it. And having a banker that understands that and appreciates and supports it, goes a long way for allowing us to help develop that next technology that we’re shooting for.

The technologies that we’ve played a big role in bringing forward and into other companies – some of them are startups. We’re pretty proud of that room actually. There’s a lot of good brainpower went into putting those things up and good technologies coming out of it.

We work really hard. I know Steve’s been traveling all over the world over the last couple of weeks. The last thing he’s thinking about is, “I gotta worry about my banking relationship.” You know that’s taken care of behind the scenes if you will, by a banker supports what we do at Blue Hills.

So yeah, they allow us to work hard and our banking is easy.

 

Steven Tallarida: I think we have the best of both worlds, you know? They’re big enough to help us globally and small enough to help our people out and our local needs.