“We together with students from School of Medicine of Tan Tao University had very productive working sessions. The medical students have been well equipped with knowledge of medical industry. USM Healthcare will regularly organize meetings, share knowledge and give talented students specific topics to jointly research and develop more deeply and widely. “
It is the evaluation of Ms. Vo Xuan Boi Lam, Chairman of the Board of Management of USM Healthcare Factory JSC for a group of students from School of Medicine of Tan Tao University (TTU). The young talents have contributed their intellectual energy and effort into the research and assessment of the “made in Vietnam” medical products of USM Healthcare such as PTCA balloon catheter, coronary stent system.
The USM’s “opening” of high quality medical device market
To date, USM Healthcare is the first Vietnamese company to produce cardiovascular products such as PTCA balloon catheter, coronary stent system, and intravenous catheter with the motto Safety – Quality – Competitive Price.
USM’s current success is resulted from finding the solution to the sad situation that “Vietnam’s health sector is heavily dependent on imported medical supplies at the cost of billions of US dollars. Domestic companies are only able to produce medical gloves, hospital beds, injection needles….The market share is still dominated by foreign companies with very high price. Poor patients without health insurance cannot afford the treatment, “- Vo Xuan Boi Lam shared.
By the end of April 2017, USM Healthcare officially entered high-quality medical device market with production of balloons and stents with annual capacity of 30,000 stents and 50,000 balloons respectively. Its quality meets stringent American and European standards but the price is extremely reasonable. In the past, each patient with cardiovascular problems had to use a US-based coronary stent at the price of 44 million VND/stent, of which 36 million VND is covered by health insurance. At present, the patients only pay 30 million VND when using USM Healthcare’s products with the same quality. It helps to reduce costs, increase the chances of treatment for patients and ease the burden on health insurance fund of Vietnam.
USM Healthcare has identified Vietnam and neighboring countries such as Indonesia, Philippines, Myanmar as the key markets since people still have to buy expensive coronary stents. Prof. Thach Nguyen also has helped USM Healthcare’s products to enter the US medical device market.
Medical students from TTU involved in research projects with USM engineers
A group of TTU’s talented students with a passion for research in interventional cardiology have been selected to work with USM Healthcare’s engineers for several months.
Prof. Thach Nguyen, MD., the Acting Provost and Dean of School of Medicine of TTU, said: “In the US, large research centers are located close to the top universities to take advantage of brain power and infinite creativity of faculty and students”. Prof. Thach Nguyen asserted: “The success of the research cooperation strategy with USM Healthcare is the first milestone to mark the era of research and innovation at TTU. We have seen academic value associated with applied research. It is also the strategic vision of President Dang Thi Hoang Yen since the foundation of TTU.”
Regarding the reason for cooperating with Tan Tao University, Chairwoman of USM Healthcare said: “I was lucky to meet Prof. Thach Nguyen in 2013 in Chicago when I was studying at Harvard Business School in Boston. From a friend, I had the opportunity to meet Prof. Thach and presented to him the opening of a coronary stent production factory in Vietnam. He encouraged me and introduced me to meet some senior specialists who have studied and developed medical products in Vietnam and in the United States. After the factory finished its construction in 2016, I came to meet Professor, reported the results and expected Professor to give his advice and assistance. He has greatly supported us in every way, especially he has introduced the best students to work together with USM Healthcare’s engineers to study and produce US standard ballon and stents. “ Ms. Boi Lam said: “We are like close friends with the same thought: Contribute something for the country.”
Ms. Boi Lam also shared her assessment of the students involved in the project: “TTU students made me and our engineers surprised by their fluent, confident, persuasive presentations in English. Not many students from domestic universities can do it. For international integration, English fluency is a strength. In addition, progressive approach, creative thinking, diligence, learning will help you succeed. Besides, you are very lucky to be led by Prof. Thach Nguyen. With strong support and enthusiatic instruction of professors, students will grow up very soon. “
Ms. Boi Lam also affirmed her desire for a long-term collaboration with TTU and revealed the plan to “order” TTU’s medical students to continue to carry out research projects invested by USM Healthcare. Prof. Thach Nguyen will chair the implementation of the research projects in coordination with R&D Director of USM Healthcare. Since research and development is essential, so we do not hesitate to invest 10% of our revenue in R&D and our cooperation with TTU is considered a prudent choice.