Last week, iuvo BioScience celebrated our second anniversary. At times, the two years seem to have flown by in an instant – memories of closing the deal, the Day One presentations in Erie, PA, and Rush, NY, the countless client calls and visits are all as fresh in my mind as if they happened yesterday. On the other hand, the amount of hard work the entire organization has put into making this a vibrant, growing endeavor makes me wonder “Has it really only been two years since we began this journey?” A dear friend of mine (and a member of our Board of Directors) calls these “dog years”…referring to the amount of learning and growth that has occurred and feeling like each year is more like seven.
To commemorate our second anniversary, we took a moment to celebrate all the successes we have achieved over the last two years…and say thank you to our employees. In addition, we launched our “Reinvent…Together” initiative, which is intended to launch us into our third year with a renewed level of focus and commitment to sustainable growth.
Our first year was primarily focused on stabilizing the business – ensuring clients they would continue to enjoy the same level of excellence in science and service they have been accustomed to – and broadening our industry visibility. Our second year was centered on business growth…and a renewed focus on our PRO™ (Partner Research Organization) business.
After careful consideration and analysis, we divested our ethylene oxide sterilization business in a strategic move to increase our focus and bolster our ability to invest further in our laboratory / R&D services business. Given that sterilization was core to this business for almost 4 decades (the original company name was STS – Sterilization Technical Services), this change to the business model was profound but necessary to ensure we could invest and grow our pre-clinical, biocompatibility, CMC and consulting services for our pharmaceutical and medical device clients.
So, as we sit today – post-Erie divestiture, lab business growing nicely, industry presence increasing every day, new clients continuing to join the iuvo network – it is important that we recognize the hard work that has gotten us to where we are today as well as map out a path for sustainable growth for years to come. Our business development organization is busy bringing in new work and our operations team is working diligently to expand our capabilities and offerings. At the same time,we must also continue to improve our systems and find efficiencies in our processes…in a word, we need to “Reinvent” our business and how we do our work.
We will accept no compromises on our mission to exceed our clients’ expectations - to bring exquisite science to each project, to provide the flexibility and responsiveness our clients need, to maintain our high standard of regulatory compliance, to continuously improve to better serve our customers – while at the same time finding ways to improve our operational efficiency.
The goals we have set for our company are significant...but Together we will succeed in Reinventing our business and setting the stage for long-term growth and success.
Until next time…be well and make a difference.