Stories of Value

Sheila Powenski

MBA ‘09

VENTURE:

Cofounder,
MedXCycle LLC

LOCATION:

South Bend, Indiana

UNDERGRADUATE EDUCATION:

Duke University B.S.,
Mechanical Engineering

For Startup, No Time to Waste

MBA student Sheila Powenski is the force behind MedXCycle LLC, a startup company that collects donated surplus medical supplies and sells them at a fraction of their original prices to healthcare providers in underprivileged countries. Powenski and her team succeeded in last year's Social Venture Competition and have benefitted from startup funding and mentoring from established entrepreneurs.

MedXCycle hopes to expand the purchasing power of hospitals and clinics in the developing world and will return a percentage of its income to donor organizations for charitable work in their own communities. As a bonus, the transactions will relieve landfills by keeping out discarded medical supplies -- everything from bandages, syringes, surgical instruments and latex gloves to larger equipment such as incubators, beds and IV stands -- at least until after they've been put to good use.

Powenski says a lot of medical waste is generated through the use of kits that contain the items most commonly used in certain procedures. As much as 40 percent of the supplies in some kits is trashed, either because health regulations prevent restocking items or because labor costs are prohibitive. U.S. hospitals still pay stiff disposal costs to get rid of an estimated 4.8 billion pounds of medical waste each year.

"We want to expand because of the possibility that's out there and how many lives can be improved," says MedXCycle co-founder Anita Allen. "It creates a sense of urgency for us to get out there and do this as quickly as we can."