Triple Ring Technologies, a provider of technology and product development services, has joined the Product Realization Group (PRG), a provider of one-stop outsourcing services for the diagnostic medical device community, as a senior partner.
In addition, Geetha Rao, Triple Ring’s vice president of strategy and risk management, has joined PRG’s board.
Triple Ring Technologies said that the new relationship allows it to offer a broader level of expertise and resources in the development of diagnostics, therapeutic, and imaging systems for medical device and life science companies.
Working together, the two organisations offer clients a coordinated, seamless transfer between phases of a developmental project, speeding time to market and reducing the chance for miscommunications between non-coordinated development teams during project handoffs.
As a result, medical device entrepreneurs will be able to work with a single entity on all aspects of a development project, from building a prototype and clinical proof of concept through the production of initial commercial units for pilot manufacturing.
Joe Heanue, president of Triple Ring, said: “The strategic partnership will provide significant leverage to companies who want to explore a virtual business model. Our goal is to help entrepreneurs get their company’s products to market quickly without investing the time and resources to build a development team and infrastructure from scratch. PRG is a strong partner that allows us to leverage our strengths further down the development path into other facets of product design and manufacturing.”
Michael Keer, CEO of PRG, said: “We’ve been looking for the company with the right capabilities to complement PRG’s strengths. Triple Ring brings the front end research and development know-how to complement the strong operations expertise already in the group, and they share both our approach to solving difficult technology problems as well as our core values.”
PRG is a combination of senior consultants and companies who have come together to offer services for businesses to optimise their product development and outsourced manufacturing processes.