Fred Lampropoulos, Merit Medical Chairman and CEO, has been named 2019 Entrepreneur of the Year by MountainWest Capital Network (MWCN), Utah’s first and largest business networking organization devoted to supporting entrepreneurial success. The prestigious award is given annually, honoring a Utah business executive who has built a successful Utah-based company, inspiring others in the process to join the risks and rewards of entrepreneurship.
“Fred clearly exemplifies the attributes of what an Entrepreneur of the Year should be,” said Scott Anderson, President and CEO of Zions Bank and a Merit Medical Board Member. “He sustains success as an entrepreneur, he reaches out to encourage and inspire the entrepreneurial spirit in others, and he gives back. . . to make our communities a better place to live and to work.”
Mr. Lampropoulos founded Merit Medical more than 30 years ago with a vision of becoming the world’s most customer-centric healthcare company. By listening to and understanding customers’ needs, Mr. Lampropoulos made Merit Medical unique in the medical device industry, innovating and delivering the tools physicians need to simplify and improve patient care.
“He is so committed to this organization. He is so committed to people,” said Justin Lampropoulos, EVP of Global Sales Marketing and Strategy at Merit Medical. “The organization started with this and today has grown into an organization that has six franchises.”
Those franchises support various areas of medicine, such as cardiac intervention, interventional oncology and spine, peripheral intervention, endoscopic procedures, cardiovascular and critical care, and more. Today Merit Medical is a leading manufacturer and marketer of proprietary disposable devices, holding over 800 patents and pending applications that represent thousands of inventions used in diagnostic, interventional, and therapeutic procedures worldwide.
Over the years, Mr. Lampropoulos has expanded Merit Medical’s presence to include facilities around the globe. In addition to the United States, Merit Medical can be found in The Netherlands, France, Ireland, China, Mexico, Brazil, Canada, Australia, Japan, and Singapore. Employing approximately 6,000 people, Merit Medical facilities operate with the common goal of improving the lives of people, families, and communities throughout the world.
“Fred is in every way a great human being,” said Nolan Karras, a Merit Medical Board Member. “In my mind he is worthy of being honored for his sense of optimism that lifts us all. That optimism has lifted a fledgling company in 1987 to a powerhouse of a company today with a great future.”
In addition to receiving the award, Mr. Lampropoulos shared his entrepreneurial insights and experiences and revealed what he believed was essential to his success. “The key in any business is not only having the vision. . . but it’s having the right people,” Mr. Lampropoulos said. “Our success is really the people in this room. You’re here, and I’m grateful.”
Fred Lampropoulos was celebrated earlier this week at the MWCN Entrepreneur of the Year annual award luncheon at the Little America Hotel in Salt Lake City.