Peter Mears- Device Technologies New Zealand
Member of TECR 701, Chaired by Brent von Sierakiwski
Auckland, New Zealand
Operating in a rapidly shifting and evolving sector such as healthcare comes with its unique set of challenges. However, as a leader in Australasia's medical device and equipment industry, it's safe to say that Device Technologies New Zealand has its finger on the pulse when it comes to cutting-edge technology.
That's in no small part thanks to the company's Managing Director Peter Mears, who knows all too well that taking a forward-thinking and proactive approach is the only way to succeed and thrive in any business.
- Catering to an ageing population
- A rapidly changing industry
- Limited healthcare spend
Fast change, slow spending
According to Peter, one of the biggest challenges with working in healthcare is dealing with the rapid rate of change in the sector.
"In this industry, you always have to look forward into the future and anticipate where technology is going, where the hospital sector is heading, what technology is going to make a difference for these hospitals and what relevant technology you should get involved with," he says.
The increasingly limited budgets that organisations in the industry have only compounds the issue, Peter adds.
"Healthcare is changing quickly - you've got an ageing population with a bigger spend, therefore the hospitals are trying to spend less but have more. The challenge of the future will be how to manage an ageing population with a limited healthcare spend."
From robotic surgery and orthopaedic equipment to fully fledged operating theatres, Device Technologies has been constantly manufacturing some of the industry's top devices for the better part of two decades now.
Despite these successes, Device Technologies has never stopped fixating on growth and expansion. Its operations are currently focused on Australia and New Zealand, with activity also in Fiji, the UK and the US - and Peter has his sights set on more locations further abroad.
"We're essentially an agency business representing manufacturers from around the world, and we're trying to grow our business outside Australasia - but that does depend on how we work with other agencies and companies," he explains.
Even the best business leaders can use a bit of help from outside, however, and Peter also credits the executive coaching he has received from TEC for much of his and Device Technologies' success to date. He says the opportunity to look at how other companies are doing and use them as a yardstick for Device Technologies' progress and development has been particularly helpful.
A close-knit group
The numerous accolades it has picked up in recent years - such as the Westpac Business Award for Excellence in Marketing - are an indication that Device Technologies is now not only a force in the healthcare industry, but in the New Zealand business scene as a whole.
Peter, of course, attributes much of this success to the invaluable insight he has gained from his TEC membership.
"What TEC does is it gives me the ability to get a barometer of other businesses and how they are affected by the economy and other trends. I can look at how they handle a range of situations, particularly when it comes down to the things that we've all got in common - like staff, customers and developing and growing the business," he says.
"And of course at a peer-to-peer level, I gain a better understanding on the different styles of people. I think TEC gives me a good overview of the external business world, which I can then use to see how I'm doing things here and whether we are on the right track."
He also highlights the positive, non-competitive environment at TEC that is conducive to learning and collaboration.
"Because we [TEC members] don't have any competition amongst ourselves, we share a lot of information, such as financials, and we can really get a feel for who we are and how we work."