Many parts of our economy are still struggling, but an Oneonta business is seeing success by reopening their doors to the Middle East. Medical Coaches Inc. is a 59-year-old medical mobile-product manufacturer. It was forced to stop selling equipment to the Arabic market in the 1970s when the region cut off oil exports to the U.S. Since then, the company has re-established their business relationship.
The president of Medical Coaches Inc. says they’ve always had good relationships in the Middle East but that was until the 1970s turbulence when many Arabic nations cut ties with the U.S. Since then, the company has had to carve out a profitable domestic market. But as things continue to change Medical Coaches has begun reaching out to the Middle East once again, but this time, they’re being greeted with open arms.
“Since 2008, it’s been the worst 3-4 years we’ve ever seen in our history,” says Geoffrey Smith, Medical Coaches president.
Smith says the 2008 Healthcare Act brought medical uncertainty to many of their customers.
“You lose 50% of your market in six months, it’s hard to recover,” says Geoffrey Smith.
But after experiencing low sales for the last few years, Smith says the domestic market is picking up, but they’ve begun focusing again on the export market.
“Well its opened up doors we didn’t have before. By bringing the Middle East back on again, it allowed us to become more diversified,” says Geoffrey Smith.
“There’s a tremendous amount of money, tremendous amount of influence, and i think our products can really serve a nation that is in need,” says Chad Smith, marketing director.
Medical Coaches has delivered to 110 countries worldwide. Before the turmoil began, business in the Middle East made up nearly 40% of their revenue. But after a 10 year hiatus, they’re reopening their doors to do business with the Arab countries.
“Really people opened there arms to us and we’re in a position that no American company can get into. We’ve already been there, they know us,” says Geoffrey Smith.
Medical Coaches once generated one-third of its business in Iran. Smith is hoping to generate these large sales again.
“It’s gonna mean a significant part of our revenue,” says Geoffrey Smith.
“We’re starting to see inquiries come from the middle east where we have representatives working for us so very exciting,” says Chad Smith.