Jarvis Medical Technologies, (JMT) located in Newark, New Jersey, is a leading designer of innovative technology for medical applications. The company is renowned for the development of advanced injection systems. The systems are used to inject local and general anesthetics, drugs for pain treatment, and other injectable drugs for treatments such as chemotherapy for cancer. It has spent much money and effort in developing proprietary technology and considers itself a product leader with a strong differentiation position. It employs 20 personnel, including systems and medical engineers with PhDs in their area of expertise. It currently has 21 patents registered. JMT has no manufacturing facilities. Instead, the company outsources its production to various manufacturing rms under a licensing agreement. Under this agreement, JMT provides the technical specications of the products to registered manufacturers. Manufacturers are selected to manufacture specic products from order, depending on the type of product and where the product will be distributed. JMT has licensing agreements with over 30 manufacturers worldwide. JMT purchases the manufactured product back from the licensed company on a cost-plus basis. JMT then takes responsibility for transportation of the product to its global distribution network. This network involves a partnership with leading healthcare product distributors and solution providers. The partners play an important role in marketing and promoting JMT's products and securing orders. They also secure feedback from their customers and gather intelligence to support product development. These customers include medical clinics, hospitals, long term care facilities and hospices. In 2021, the company recorded revenues of $8.6m, a net loss of $870,000, and a net asset value of $5.7m. The company's net earnings have been at a loss in the last three years, though cash ow was neutral last year. In the rst nine months of 2022, JMT was virtually breakeven. As a result, the board of directors were looking for a renewed global strategy