CHAIRMAN, CHIEF EXECUTIVE, EVENT MEDICAL
DAY JOB: Runs eVent, 40-person company in the foothills of Lake Forest that makes ventilators for intensive care units at hospitals. The price for the company’s product: about $15,000.
MAKING A DIFFERENCE: Firm typically makes about 1,000 ventilators a year, or fewer than 100 a month. Not a typical year, as product became one of most sought-after items in the world at onset of pandemic. Demand caused production to rise to 200 a month as of May. While their business is considered essential, those of its suppliers may not fit the list as determined by the state government.
NOTABLE: “We are one of the few companies that can make ICU ventilators in the U.S.,” Inoue told Business Journal, noting his company’s competitive advantage is that his machines are “more state of the art” compared to competitors and he prices it about half that of the competition. Another advantage is that he makes the machines user friendly so someone using it can adjust it as needed without the help of an aide. “Many caretakers where we sell are not educated like in the U.S.,” Inoue said. “We make it intuitive for users.”
QUOTABLE: Once the coronavirus began, the company saw demand from China explode to about 300 to 400 orders in the first 10 weeks this year alone. “We’ve been working on weekends,” Inoue said at end of March. “We have to crank up until we use up all the parts.”
FAST FACT: Inoue founded another ventilator maker, Newport Medical, in 1981; left in 2000. In 2006, he joined eVent Medical and bought it in 2012. Costa Mesa’s Newport Medical was bought by device giant Covidien in 2012, reportedly in the range of $100 million.
