Integrity is something that underpins all Formacoat’s business operations and company culture. The company’s honest and direct approach to customers stays true to its roots as a family business. Formacoat aims to be as transparent with customers as possible and fair in all its pricing.
“We put in a lot of effort in making sure that we don’t do unnecessary things and charge unnecessary costs,” adds Brecon Gross.
Furthermore, Formacoat explains that their company is not interested in making a quick buck at the expense of the customer. A fundamental part of the company’s business model is in building long-term relationships with customers.
“The nature of being a family business does mean that we’re in this for long-term relationships,” explains Mark Gross.
Proof of this is in the longevity of repeat customers. Their first customer continues to use their services after 20 years, with the average length of customer relationships being nine years.
“It’s all about honest communication with the customer,” says Brontë Gross. “If we make a mistake, we don’t try and hide it behind layers of bureaucracy or excuses. We’ve built that level of trust among everyone we work with by having those open lines of communication from the start and maintain that approach throughout the relationship.”
The founding principle of the company on which its integrity is built is a question they refer to as “The Formacoat Formula”. Mark Gross, CEO and Founder of Formacoat, outlines this principle in the following statement:
“What do you want and why? While this may seem like a basic concept, it is one that often can be overly complicated and even missed out on altogether. We’re continually amazed at how important the answers are to those seemingly simple questions. Before we offer answers to your coating challenges, we want to know what you care about, even what the customers who use your device care about. By digging deeper and listening to our customer’s needs, we gain a greater understanding of what you need which leads to better results, sooner.”
Formacoat has a holistic approach that aims to address what customers want from their medical devices – and why.
“We just sit back and listen. We don’t make any recommendations. We don’t jump onto the customer. We truly take the time to listen to their story to find out what they want, their needs, and what they’re looking for. And then also the reasons behind it. What is this device being used for? What issues are you addressing? From there, we can make recommendations on what we can provide,” explains Todd Paulsen, Vice President.
“Taking the time to ask this basic two-part question allows us a better insight into our customers that easily leads to our coating development process. Honesty is at the core of all Formacoat’s operations,” Paulsen explains. “In the unlikely event that the company cannot provide the exact coating that a customer needs, the team will be upfront and won’t try to sell something that’s not necessary.”
“There are times where after we have asked our questions, we’ve come to realize that their solution isn’t a coating solution, it’s a substrate solution or something else. There have been times we’ve made recommendations that don’t financially benefit us at all,” adds Paulsen.
“We really strive to try and understand why the customer is coming to us, what needs they have, and what fit is going to be right,” adds Brontë Gross. “The formula seems simple, but it’s incredible how many customers we get saying something like ‘No one else really understands what I need’. There’s a lot of active energy on our part to make sure that everyone is on the same page throughout our design and scaling processes.”
As the company moves from operations by hand to ones that are automated for large-scale manufacturing, those running the family business are keen to maintain the company’s culture and unique identity as it expands, sticking with what has made the company a success in the first place and continue providing solutions and services other companies can’t.
About Formacoat
Founded more than 25 years ago and headquartered in Chaska, Minnesota, Formacoat is a leading medical device contract manufacturer specializing in advanced coating technologies, coating application, process development, and manufacturing services. Through its expanding HydroMark™ platform, Formacoat partners with medical device OEMs and CMOs to improve device performance, accelerate commercialization, and deliver innovative coating solutions for minimally invasive medical devices. The company’s collaborative approach, technical expertise, and commitment to innovation provide customers with a trusted independent partner for coating technology and manufacturing excellence.
To learn more about the extensive coating solutions Formacoat offers for medical devices, download the document below.
