OrthoWorx CEO: State funding to boost orthopedics industry
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The CEO of Warsaw-based OrthoWorx says a $30 million appropriation from the state’s new two-year budget has created excitement within the state’s orthopedic industry. The funding was provided to the not-for-profit in support of efforts to attract and retain talent in the Orthopedic Capital of the World in Kosciusko County.
“As you can imagine, there are a lot of communities that would love to have what we have, and so this is our opportunity to really further invest in this community,” said Bob Vitoux.
In an interview with Inside INdiana Business, Vitoux said the industry is facing many of the same challenges that others face when it comes to talent.
“The environment has changed for those that don’t have to be there standing in the operation every day making parts,” Vitoux said. “The virtual nature of the work environment that has been created over the last couple, three years, I think has certainly heightened the importance of making sure that we have things that that are going to attract this next generation.”
OrthoWorx was established in 2009 as a means to advance Indiana’s orthopedics industry. Vitoux says Kosciusko County area represents about half of the $60 billion global orthopedics market with companies such as DePuy Synthes, which dates back to the 1890s, as well as Zimmer Biomet, OrthoPediatrics and many other large and small businesses.
In 2022, the Northeast Indiana Regional Partnership estimated the industry accounts for more than 22,000 jobs in the region, and approximately $19 billion in revenue.
Vitoux said the organization is in the very early planning stages of how to allocate the $30 million appropriation from the state.
“We’ve had gatherings. We’ve done some visioning as to where we think some of the opportunities might lie,” he said. “We anticipate very rapidly gathering a working group that’s going to get at this and put together what we’re going to call our strategic investment plan that will lay out the framework of how we go about utilizing this this $30 million.”
Vitoux previously told the Indiana Capital Chronicle that the region needs to advance some of its community amenities and offerings to help attract new talent. He said that could include efforts on education, housing and childcare.
Vitoux credited members of the Indiana General Assembly, namely Rep. Craig Snow, R-Warsaw, and Sen. Ryan Mishler, R-Mishawaka, for their efforts in getting the appropriation included in the budget.
“They’ve heard our ask as it relates to some of the things that we need to do to make sure that our large orthopedic businesses represented here know that we’re committed to to the future,” he said. “I think that there has been a great deal of excitement in the air as word starts to just trickle through the community.”
Additionally, he said Indiana’s orthopedic industry has seen some pent up interia following the COVID-19 pandemic, which created many challenges in what he calls a largely recession-proof field.
“COVID was a very, very different animal; elected procedures, as we know, were challenged during the darkest days of COVID,” he said. “But we see that on the turnaround and elective procedures going back to where we historically have seen them. There’s excitement on the horizon for what that means.”
Vitoux said OrthoWorx expects to have a more concrete plan for allocating the $30 million later this year.