Precision Medical Products President & CEO Named Entrepreneur of the Year
Denver, Pa. - After an extensive search, the winner of the Life Sciences category of the Central and Eastern Pennsylvania Ernst & Young Entrepreneur of the Year Award has been identified. Douglas N. Yocom, president and chief executive officer of Precision Medical Products, Inc., in Denver, Pa. is the 2003 Life Sciences Entrepreneur of the Year.
At a gala held at the Harrisburg Hershey Marriott on June 25, Jeffrey Vrabel, partner at Ernst & Young's Central Pennsylvania practice, said "The 2003 award recipients exemplify the spirit and qualities of leadership, determination, and true entrepreneurial vision. The spirit of entrepreneurship is alive and well in Central and Eastern Pennsylvania."
Yocom credits his partners and employees for the company's success. "It is an honor to be recognized as Life Sciences Entrepreneur of the Year. It is also important to note that this recognition is shared with the many who make Precision Medical Products a successful business. Our company is grateful that Berks and Lancaster counties provide us with a world-class workforce that adds to the success of Precision Medical Products, Inc."
He was the controller of Arrow Precision Products, Inc. before he and T. Jerome Holleran, Robert I. Rhoads, Jr., and George W. Weaver bought the company. He knew the deal would require risk, creative thinking, and a lot of work. The entire operation would need to be moved to a new location, a new management team would have to be formed, and new hourly workers needed to be hired. After writing the proposal, developing a strategic business plan, and spearheading the financial arrangements, the deal was made. By focusing on the internal and external customers, and with a commitment to quality, Yocom now leads a rapidly growing medical-device manufacturer.
Precision Medical Products Inc. is the sole supplier of the smallpox bifurcated vaccinating needle to major pharmaceutical companies and the United States CDC. Precision Medical Products, Inc. supplied the CDC with its total stockpile requirements.
After September 11, 2001, federal government directives revised those plans, and the company purchased high-speed equipment to meet the demand to increase the U.S. stockpile. The company also redesigned the packaging of the needle to enhance sterility. The company continues to grow, and they are planning a summer 2003 groundbreaking for a new plant. With the general decline in the Pennsylvania manufacturing economy, new manufacturing facilities in this area are quite a success story and a testimony to the leadership of Precision Medical Products, Inc.
As a 2003 Central/ Eastern Pennsylvania's Ernst & Young Entrepreneur Of The Year winner, Yocom is eligible to participate in the National Entrepreneur Of The Year awards program, which is designed to honor outstanding owners of fast-growing companies and supporters of entrepreneurship in the U.S. The winners will be announced at a gala in Palm Springs, Ca. in November 2003.
Yocom extends his leadership commitment into the community as well. In May 2003, he received the Boy Scouts of America Silver Beaver Award for Distinguished Service to Youth. An Eagle Scout, he serves as a member of the executive board of the Hawk Mountain Council, Boy Scouts of America as well as its vice president of camping. He is also serves on the Board of Directors of Junior Achievement and is a 2003 Bronze Member of the Junior Achievement Society of Free Enterprise. He is a member of the advisory board of the College of Business at Bloomsburg University. Mr. Yocom serves on St. Paul's Lutheran Church Council and is Chairman of the Church's Finance Committee. He also co-chairs the Church's New Building Capital Campaign. He also served an active role in the Annual Fund Drive for The Hill School in Pottstown, Pa. and the Annual Fund Drive for the University of Richmond, Richmond, Virginia. He is past president of Amity Township Athletic Club, and served as the treasurer for the Amity Township Athletic Swimming Club. He was a member of the Daniel Boone School District Advisory Committee responsible for the development and the building of the Birdsboro Elementary School. He resides in Douglassville, Pa. with his wife and is the father of three grown sons.
