From
CRAIN'S DETROIT
BUSINESS October 1, 2001
Forty under
Forty
Robert Chioini, 37
Chairman, president and CEO
Rockwell Medical Technologies Inc.
Wixom
Biggest achievement: Taking the company public and continuing its
growth.
Current goal: Dominating the hemodialysis supply market through
acquisitions, proprietary products and internal expansion.
Robert Chioini is
an entrepreneur from the classic school.
He was working for
somebody else in the early 1990s when he decided he could deliver products more
creatively and efficiently than his employer.
So Chioini started
Rockwell Medical Technologies Inc. in 1995 to supply hemodialysis supplies and
equipment to clinics that treat people for kidney disease.
Rockwell Medical (Nasdaq: RMTI) reports $9 million in annual sales, and Chioini
says it can generate $100 million over the next three to five years.
To realize the
goal of being a national player in the business, Rockwell has opened
51,000-square-foot manufacturing plants in Michigan and Texas over the past
three months.
The Michigan State
University graduate created Rockwell Medical from savings from working in sales
for other medical suppliers. He brought aboard investors and clinicians when he
decided to move beyond distributing hemodialysis supplies to manufacturing
them, Chioini said.
The big
breakthrough for Rockwell Medical happened when the company perfected a powder
for mixing blood-purifying solutions rather than delivering liquid products in
55-gallon drums, he said.
The dry
concentrate saves space at clinics, he said. It also has eliminated bulky
55-gallon drums, allowing Rockwell Medical truck drivers to carry freight for
other companies as they return from deliveries.
Rockwell raised
capital through a $5 million initial public offering to take its innovation to
market.
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