1 00:00:00,160 --> 00:00:01,920 Speaker 1: The health sector where a key we start up, mid 2 00:00:01,960 --> 00:00:04,560 Speaker 1: Solve has been going well in Australia. Their thing is 3 00:00:04,600 --> 00:00:07,520 Speaker 1: re manufacturing single use medical products. Right now. The good 4 00:00:07,520 --> 00:00:10,120 Speaker 1: news here is Farmacs finally accepted their products onto our 5 00:00:10,160 --> 00:00:12,760 Speaker 1: medical device list. Now all of a Hunt, CEO of 6 00:00:12,800 --> 00:00:15,240 Speaker 1: mid Solvers with us Oliver, very good morning to you. 7 00:00:16,640 --> 00:00:17,160 Speaker 2: Morning Rake. 8 00:00:17,239 --> 00:00:19,800 Speaker 1: Has it been an arduous journey with farmk. 9 00:00:21,079 --> 00:00:24,159 Speaker 2: Yeah, we've had our challenges, but it's great to be 10 00:00:24,200 --> 00:00:26,960 Speaker 2: on the list finally after operating in New Zealds for 11 00:00:27,160 --> 00:00:28,800 Speaker 2: coming up on eight years. 12 00:00:29,000 --> 00:00:30,920 Speaker 1: What do you re manufacture? Literally? 13 00:00:32,120 --> 00:00:35,800 Speaker 2: So we take products like deban thrombosis prevention sleeves that 14 00:00:35,840 --> 00:00:38,479 Speaker 2: go around your legs after or during surgery, cleaning them, 15 00:00:38,479 --> 00:00:40,199 Speaker 2: test them and then send them back to hospitals for 16 00:00:40,360 --> 00:00:42,559 Speaker 2: safe clinical reuse. And we can do that up to 17 00:00:42,680 --> 00:00:45,880 Speaker 2: fourteen times in New Zealand and at a significantly lower 18 00:00:45,880 --> 00:00:47,440 Speaker 2: price than the original products. 19 00:00:47,720 --> 00:00:50,000 Speaker 1: So what's been the problem in holding that up? When 20 00:00:50,040 --> 00:00:51,680 Speaker 1: you go to farmac and go look what I can do? 21 00:00:51,720 --> 00:00:55,600 Speaker 1: When they say what, Well, Pharmik. 22 00:00:55,240 --> 00:00:57,400 Speaker 2: Has gone about a process of contracting all of the 23 00:00:57,440 --> 00:00:59,560 Speaker 2: products in the health estimate it's about two hundred and 24 00:00:59,600 --> 00:01:02,160 Speaker 2: forty five of those and they've done that category by 25 00:01:02,200 --> 00:01:05,800 Speaker 2: category and haven't reopened those contracts once they were locked down. 26 00:01:06,200 --> 00:01:08,039 Speaker 2: So for many of those contracts, they were locked down 27 00:01:08,080 --> 00:01:10,720 Speaker 2: before we even existed, and there haven't been any avenues 28 00:01:10,760 --> 00:01:11,840 Speaker 2: through which we can enter that. 29 00:01:12,600 --> 00:01:15,240 Speaker 1: And so are you new in terms of this technology 30 00:01:15,280 --> 00:01:17,880 Speaker 1: to re manufacture? Therefore, this is going to revolutionize the 31 00:01:18,240 --> 00:01:21,720 Speaker 1: throwaway mentality in the health system and therefore the sooner 32 00:01:21,720 --> 00:01:23,920 Speaker 1: we get onto this the better. Or has this always 33 00:01:23,959 --> 00:01:26,440 Speaker 1: been available in you're just another version of what people 34 00:01:26,440 --> 00:01:27,360 Speaker 1: have been doing for ages. 35 00:01:29,000 --> 00:01:32,240 Speaker 2: We're very new in the global sense. It's been done 36 00:01:32,240 --> 00:01:34,800 Speaker 2: in America for a while, but we're really bringing it 37 00:01:34,840 --> 00:01:37,399 Speaker 2: to the rest of the world into Australia and New Zealand. 38 00:01:37,520 --> 00:01:41,360 Speaker 1: Now how wide a product range can you do? 39 00:01:43,080 --> 00:01:46,080 Speaker 2: It's pretty substantial. I mean the label single use has 40 00:01:46,080 --> 00:01:48,080 Speaker 2: been applied to a huge number of products that were 41 00:01:48,080 --> 00:01:50,840 Speaker 2: originally reusable or in some form able to be used 42 00:01:50,920 --> 00:01:55,120 Speaker 2: multiple times. So it's an expanding impact field. 43 00:01:55,120 --> 00:01:56,520 Speaker 1: If you liked there was the other thing to go 44 00:01:56,560 --> 00:01:58,279 Speaker 1: to ask. So though there are more and more products, 45 00:01:58,320 --> 00:01:59,920 Speaker 1: the technology is advancing, et cetera. 46 00:02:01,240 --> 00:02:04,279 Speaker 2: Yeah, absolutely, and it's going to get bigger and bigger 47 00:02:04,280 --> 00:02:06,520 Speaker 2: as you start to see more complicated devices coming out 48 00:02:06,520 --> 00:02:08,880 Speaker 2: and robots and things like that as well. But you know, 49 00:02:08,919 --> 00:02:11,959 Speaker 2: obviously you have to be able to adopt it. But yeah, 50 00:02:12,000 --> 00:02:13,600 Speaker 2: I mean that's one of the benefits. But the other 51 00:02:13,639 --> 00:02:15,760 Speaker 2: thing is, you know, we're a process driven by people, 52 00:02:15,760 --> 00:02:17,920 Speaker 2: and we've been able to create a process that we 53 00:02:18,000 --> 00:02:21,320 Speaker 2: employed people facing barriers to employment in that which has 54 00:02:21,320 --> 00:02:23,840 Speaker 2: a tremendous benefit from and direct economic competents. 55 00:02:23,919 --> 00:02:28,200 Speaker 1: So you'll win win when win win plan sorry, three ones, 56 00:02:28,320 --> 00:02:29,520 Speaker 1: you'll win when win. 57 00:02:30,880 --> 00:02:33,400 Speaker 2: Absolutely good. Well, there's a lot of ones to be head. 58 00:02:33,400 --> 00:02:36,160 Speaker 1: There so many ones. Well I had three at last count. 59 00:02:36,400 --> 00:02:38,840 Speaker 1: So how many millions we talk? We're talking millions, tens 60 00:02:38,840 --> 00:02:41,760 Speaker 1: of millions, hundreds of million dollars and potential savings. 61 00:02:42,520 --> 00:02:44,920 Speaker 2: Well, when I started out, I worked backwards from what 62 00:02:44,919 --> 00:02:46,720 Speaker 2: could be done in America and I came up with 63 00:02:46,760 --> 00:02:48,760 Speaker 2: a number of one hundred million dollars in New Zealand 64 00:02:48,800 --> 00:02:50,560 Speaker 2: of the products that we use. But we're a long 65 00:02:50,600 --> 00:02:52,760 Speaker 2: way away from America, so we're paying more for our 66 00:02:52,800 --> 00:02:55,320 Speaker 2: devices and that is a fact. We're paying more than 67 00:02:55,320 --> 00:02:58,080 Speaker 2: out for our devices and Australia as well, So there's 68 00:02:58,240 --> 00:03:00,440 Speaker 2: great opportunity there. And if you can do it locally 69 00:03:00,480 --> 00:03:03,480 Speaker 2: and provide the jobs here, the good benefits to be had. 70 00:03:04,639 --> 00:03:06,720 Speaker 1: Great story, all well done. Appreciate it very much and 71 00:03:06,800 --> 00:03:09,560 Speaker 1: Glad Glad Farmax come to the party. Oliba Hunt He's 72 00:03:09,600 --> 00:03:12,200 Speaker 1: the CEO of mid Self. He's he's in chargeable, Win win, 73 00:03:12,240 --> 00:03:13,639 Speaker 1: win when win company. 74 00:03:14,240 --> 00:03:17,160 Speaker 2: For more from the mic Asking Breakfast, listen live to 75 00:03:17,240 --> 00:03:20,320 Speaker 2: news talks. It'd be from six am weekdays, or follow 76 00:03:20,360 --> 00:03:21,880 Speaker 2: the podcast on iHeartRadio.