August 2, 2007
World Product Centre LLC has announced an agreement under which it will begin to offer medical device makers worldwide licensing and lease agreements in a new, million-square-foot permanent exhibition and conference complex to be located in midtown New York City.
The project is attempting to make New York City the prime center of commerce and innovation for the $260 billion global market for medical devices and diagnostics.
World Product Centre LLC has signed a letter of intent with Gary Barnett’s Extell Development Company to occupy a specially designed building that Extell will construct to WPC’s specifications at 11th Avenue and West 34th Street. If all goes as planned, construction for the building will commence at the beginning of 2009 and be completed by 2012, WPC said.
The World Product Centre is designed from the ground up to reflect the real-world needs of today’s doctors, hospital administrators, and purchasing agents in sourcing, selecting, and integrating the latest advances in medical technology into their patient care facilities. The letter of intent allows WPC to begin signing lease/licensing agreements with medical device manufacturers around the world to establish their presence in the unique facility, where the health care community will for the first time be able to see, test and determine the interoperability of a complete range of medical equipment, across all specialties, in one place, at any time.
WPC will bring tens of thousands of doctors, hospital administrators, and purchasers annually to New York City to learn about, interact with and buy the world’s most sophisticated medical equipment.