U.S. expenditures on drugs and other medical nondurables approached $100 billion in 2002, and spending on medical devices such as wheelchairs, eyeglasses, and hearing aids was about $16 billion. Worldwide drug sales are rising at a rate of 8%-10% a year, and medical device sales at 7% a year. In the international marketplace, U.S. firms account for more than 40% of the $120 billion market for medical devices and more than 30% of the $265 billion pharmaceutical market. Medical products is indeed a huge and lucrative business.
Every so often a product or design philosophy comes along which revolutionizes an industry. As the innovator, pioneer, and leader in the area of medical supplies technology, we have the potential to absolutely transform the structure and methods of the medical supply industry worldwide. HMT’s products can dramatically improve the quality of life for millions of patients throughout the world. The ingenuity, diversity, and marketability of our ideas and product lines have a unique history of growth.
HMT is much more than a stand-alone product company. We are a “system” company. We think in terms of systems and we design fully integrated systems to solve medical problems. We look at how the human body works, how biomedical and biomechanical systems function in the body, and how we can replicate them. We support the products we develop with defining medical and clinical models. Applying a computer analogy, we are both a “hardware” and a “software” company. Our medical models are the software which clinically support the hardware of all our medical devices.
While our Supply Division is already generating sales and attracting national and international attention, we believe that our Medical Division could possess even greater worldwide market potential. Our Medical Division includes four groups.
Medical Equipment Group
Two cutting edge medical device innovations will lead the success of the Medical Equipment Group.
We own exclusive manufacturing and marketing rights for a sophisticated physician-designed human spectrometer which accurately measures individual performance against individual potential. This is the first time in history that a device of this type has been constructed.
We have one consumer product patent pending and other products in the design stage.
This Executive Summary should not be construed in any way as a solicitation to invest. It is intended solely as an overview of our philosophy, values, goals, and objectives.