Colorado Companies to Watch spotlight: Tensentric
Snapshot: Tensentric’s engineers provide design, development and prototyping services for the medical device, in-vitro diagnostic and life sciences industries.
Leadership: Wade Lukianow is president and CEO. He and COO Jeff Gentry founded Tensentric in 2009.
Work force: Tensentric has grown from 10 employees in 2009 to 32 at the end of last year. It is projecting an increase to 38 employees this year.
Pivotal moment: Lukianow and Gentry founded the company after watching how, in this highly regulated environment, product development took too long and was prone to costly redesign. This problem plagued OEMs and contract designers alike. The two sought to provide a more satisfying client experience by implementing several novel "Phase Zero" techniques and refining processes. They sought to build a team comprised only of world-class, experienced people. Subsequently, Tensentric was awarded contracts with Top 20 medical device companies.
Business model: Tensentric develops products for clients on an outsourcing basis. Its competitive advantages, the company says, lie in the quality of its engineering and project-management staff.
Market: Tensentric’s clients are typically large multinational companies that directly market products to the life science market and for diagnosing, treating and monitoring patients. Tensentric also assists well-capitalized startup companies in their goals to rapidly introduce their products while meeting the industry’s significant regulatory constraints.
Growth curve: Tensentric’s revenues skyrocketed 297 percent in 2010 and rose another 31 percent last year. The company is projecting a 30 percent revenue increase this year.