When likening Silicon Valley to other regions around the world, the Gold Coast doesn’t necessarily jump straight to mind – but for Precise Light Surgical, the Australian destination offers the perfect base for its Asia–Pacific headquarters.
Redefining surgery to improve outcomes through less invasive measures, Precise Light Surgical CEO Richard Nash tells The CEO Magazine the sunshine city is an ideal business hub for its Asia–Pacific expansion.
"When we were doing our due diligence in looking for an APAC location, the Gold Coast had some unique value-add benefits to our company, particularly linked to the laser expertise at Griffith University," he says. "Second to that is the major hospitals that are located here onsite in the Gold Coast Health and Knowledge Precinct (GCHKP), the big public and private hospitals. For us as a medical device company, that is extremely important."
The US-founded venture was founded in 2008 by Gerald Mitchell and Ken Arnold with the focus around technology, patients and doctors.
In the past 13 years, the company has revolutionised the field of medical laser equipment with its patented O-Pel laser – a low energy solution that provides a safer and more efficient way for surgeons to cut tissue.
"Our technology is a surgical laser resection solution, which is driven through the O-Pel Scalpel," Nash explains. "We have a unique mechanism of action when it comes to tissue cutting, which has been termed pressure-induced tissue resection – so instead of prolonged heat, we send very short pulses of light to the tissue, and instead of burning and peeling, the tissues ejects in nanoparticles.
"You can precisely select the tissue to be cut, sparing collateral damage to nerves and blood vessels with better patient recovery, less bleeding, less scarring and lower costs.
"In many respects, the technology de-risks current surgical practice and opens up the possibility for procedures to be undertaken in day surgeries and offices in the USA.
"This is a real game-changer in surgery."
Just as Silicon Valley is a melting pot of innovation, Nash believes the Gold Coast mirrors these same forward-thinking qualities.
"The similarities are the growing entrepreneurial mindset, particularly from a digital technology perspective and the culture is similar with individuals valuing access to a beautiful lifestyle outside of the office," he says. "However, Silicon Valley still offers greater resources to grow and scale innovative technology, particularly from a financing perspective."
While the business is headquartered in the famed US region, its international head office is being established in Queensland to further continue its journey of providing a bright future for medical advancement.
Within the next five years, the CEO hopes to have built a thriving Asia-Pacific base that will further boost the local economy.
"It’s great to be able to work with top hospitals and clinicians here locally on the Gold Coast to generate data on our device, which is going to really help us with adoption of our technology globally," Nash explains. "We hope to build a successful international HQ on the Gold Coast with local APAC manufacturers and significant employment."
Why the Gold Coast is an ideal Asia–Pacific base
The Precise Light Surgical CEO shares exactly why the US-based tech business is establishing its Asia–Pacific headquarters in Australia’s sunshine city.
"The Gold Coast has great resources, particularly the GCHKP," Nash says. "When you combine this with access into other reputable universities in South-East Queensland and Brisbane (only an hour’s drive away), you really have all the resources necessary to build and commercialise technology."
"We need to be able to attract talent and we can do that on the Gold Coast, particularly in the health and knowledge precinct," he says.
"It’s actually very easy to work between the two time zones, as Gold Coasters are naturally morning people, and there is reasonable crossover of business hours," Nash says.
Recognising the potential of the region, City of Gold Coast works closely with businesses looking to expand to the Gold Coast. Through the City’s Investment Attraction Program, Precise Lighting Surgical accessed financial support and local assistance available under the program.
Discover how businesses relocating to the Gold Coast could be entitled to a cash boost.