Lenstec Inc., a manufacturer of medical devices for ophthalmic surgery, has offices in Florida and the United Kingdom, as well as a 30,000 square foot manufacturing facility in Barbados. Manufacturing in Barbados allows Lenstec to develop and manufacture high quality products closer to their target markets, where standards could be more closely monitored and shipping done efficiently.
The company currently distributes its products in more than 50 countries and, to date has three U.S. Food and Drug Administration (FDA) approved lenses being sold in the United States. “When selling to certain territories, the distinction of being located in Barbados proved advantageous and a business distinguisher for international markets trying to discern the quality and caliber of our product. Especially when selling to European markets, and now the U.S., the value of our product can be seen as higher when compared to similarly manufactured products sourced internationally.” (Ian Hickling – President of Manufacturing, Lenstec Corporation)
Lenstec credits the business climate in Barbados with much of its success. The company cites this, as well as the island’s ideal suitability for high value, light weight, low volume shipments, a competitive cost structure, a business friendly government and an excellent quality of life, among the key reasons why Barbados continues to be its location of choice.
The government agency, ‘Invest Barbados’, provides business advice and a one-stop shop for referring questions about doing business in Barbados. Government departments are easy to access and attentive to the needs of exporting companies. Their assistance has made expanding in Barbados an easier task and has helped Lenstec position itself to successfully do business globally.
Even more noteworthy, is the country’s intelligent workforce. As unorthodox as this type of business may be within the Caribbean context, the company was able to source trained personnel in technical and scientific fields such as microbiology, research and development, as well as engineering, IT programming and quality assurance. Lenstec currently has a staff of 215.
This drives home the importance of a country’s reputation within the international community with regard to its political and economic stability, international business policies and the education of its people. These are key factors that new, emerging businesses are in search of when considering a host country in which to set up.
Lenstec (Barbados) Inc
Tel: +1 246 4206795Fax: +1 246 4206797
Cell: +1 246 2662070