OAKLAND, N.J., June 25, 2012 /PRNewswire/ -- Collagen Matrix, Inc., Oakland, New Jersey, celebrated its 15th year anniversary with its nearly 100 employees, stockholders and guests at a gala event held at The Tides Estate in North Haledon, New Jersey. The event provided an opportunity to reflect on the accomplishments over the past 15 years and to renew the commitment to the future increased growth and prosperity of the company.
Dr. Shu-Tung Li, Ph.D., President, and Chief Executive Officer, founded the medical device development and manufacturing company in 1997 based on sound technology drawing from his ten-year academic career and thirty-year industrial experience in healthcare as the foundation on which to build Collagen Matrix. Dr. Li faced the challenge of building a start-up medical device company with minimal resources. In an effort to preserve shareholder equity, Dr. Li began writing grant proposals to raise funds for research to support the business. Due to his innovative concepts and expertise in grant writing, Dr. Li was awarded $8 million in grant money over a six year period that culminated in the development of medical devices that could be sold to generate revenue.
Today, Collagen Matrix is a highly profitable company selling over 30 medical devices in more than forty countries worldwide and enjoys revenue of over $30 million. The Company's technology is protected by many U.S. patents. Collagen Matrix has marketing, private label and distribution agreements with medical device industry leaders for global distribution. The continuous innovation and launching of new products each year from 2001 to present earned Collagen Matrix the 16th place on the 2009 New Jersey's Fifty Fastest Growing Companies list.
In 2010 Collagen Matrix expanded its operations in October by the addition of a 28,000 sq. ft. facility at 15 Thornton Road, Oakland, New Jersey, which serves at the comp