Cogmedix boosted revenues 60% last year

Cogmedix revenues growth was fueled by an expanding client base and increased demand from existing customers.

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By Laura Finaldi

Worcester-based Cogmedix, a wholly-owned subsidiary of the Coghlin Companies in Westborough, has found success through targeted offerings. The company provides manufacturing services for electro-mechanical medical devices with a specialty niche in laser-based medical devices.

“Let's say you had a laser-based or optically-based medical device, and you tried to do a Google search on who would provide services to your organization,” said Matt Giza, Cogmedix's executive vice president and general manager. “You would not find anybody with as much experience or range as Cogmedix. It makes us different in the market, honing on this strategy for several years.”

This expertise has given the company's bottom line a boost. In 2016, revenues grew by nearly 60 percent, due to an expanding client base and increased demand from existing customers.

Keeping clients happy

Business at Cogmedix comes in from referrals 100 percent of the time, said Giza.

“We do focus on providing an exceptional customer experience, so I think that gets around,” he said. “People move from company to company, and we're highly referred in the industry.”

To deal with growing revenue, Cogmedix is able to lean on its parent company. Coghlin is willing to pull resources from one business and put them in another, or to hire when necessary, said Giza.

Cogmedix's adaptability is part of the reason why it's so successful, said Timothy Murray, president and CEO of the Worcester Regional Chamber of Commerce.

“It's a company that has shown incredible adaptability and entrepreneurship, and an ability to stay ahead of the curve,” Murray said. “That's a competitive advantage of them and for our region to have such agile companies and leadership.”

More expansion in 2017

Right now, Cogmedix is expanding its 17 Briden St. location in Worcester, and hopes to add another facility by the end of the year, said Giza. The new location will probably be in Worcester.

“There's a great resource pool in the Worcester area,” he said. “We want to keep the facility as close in proximity as we possibly can to the current one.”