Three questions with James Pastena of Precision Spine

Over the past 30 years, James Pastena has seen enormous changes in the medical technology business. Many of the spinal implant devices he currently sells from Precision Spine, his Parsippany-based company, could never have been used when he entered the business in the early 1980s.
Pastena’s career has taken him through various medical marketing and sales companies, working his way up from a sales representative to a market consultant, to his current role as president and CEO of Precision Spine.Precision Spine was founded earlier this year, when Pastena’s old company, Spinal USA, bought the Mississippi-based spinal implant device company, Precision Medical. Since then, Pastena said, company growth has been robust.
“We’re one of the companies that hasn’t shipped its manufacturing overseas at this time,” Pastena said.
Q. How has your industry changed since you began working in medical technology?
A. It has changed dramatically. They wouldn’t be doing some of these procedures when they started. Along with that, it’s become very competitive and you have to be very sharp and attentive to the market needs. The last thing has been a major change. The regulations have become enormous. It becomes somewhat debilitating to get technologies to the marketplace.
Q. How have you grown your company through the recession?
A. I’m proud to say we have done quite well. It’s the first time I’ve seen the entire market not grow for a year or so. That’s never been in the past. The economy has hit this market quite heavily. We’re very smart on what we do. I have a team of people that has built up large businesses. We have good relationships. The company was a sound company that just needed to be advanced in its quality. We’ve been able to double sales. It’s not been easy, but we’re proud of that.
Q. What effect does the affordable health care law have on medical technology?
A. Right now, the things that we’re starting to see is surgeons retiring early. They’re tired of fighting with insurance companies. At the same time, I can constantly hear from surgeons that Obamacare is coming between the patient and the doctor, so they’re starting to leave. We’re getting ready for some major impacts. They put a 2.3 percent medical device tax on our business gross sales. We don’t even know how it’s going to be paid. This is going to take money out of the business.