- Texas Medical Technology partners with The Modoc Nation, based in Oklahoma.
- The joint venture gives birth to Modoc Medical Solutions LLC.
- Modoc Medical Solutions LLC to manufacture products in the Texas Medical Technology plant.
- The profits will be reinvested and deposited in the General Fund of the Modoc Nation.
- Creation of the Modoc Nation General Fund to help Amerindians.
Houston-based Texas Medical Technology has partnered with Oklahoma-based The Modoc Nation to provide employment opportunities.
Texas Medical Technology is a leading manufacturer and distributor of medical equipment and supplies. On the other hand, the Modoc Nation is a Native American tribe located in Ottawa County, Miami, Oklahoma.
As part of the agreement, Texas Medical Technology and Buffalo MTE of Modoc Nation formed Modoc Medical Solutions LLC, a joint venture under the rules of the United States Small Business Administration (SBA).
The reason for the partnership
In the United States, a US government survey finds that one-third of Native Americans live in abject poverty, with a median income of $ 23,000 per year. The data is a clear indicator of the strong income inequalities that exist within the group. In addition, the recent economic crisis has hurt Native Americans, calling for approaches to favor their economies.
Therefore, the private sector contributed to the development of Native Americans. This is why Texas Medical Technology has entered into a Modoc Nation joint venture to enrich community life.
Modoc Medical Solutions LLC will leverage the expertise and manufacturing capabilities of Texas Medical to manufacture products under its own brand. They will manufacture and assemble their products at the Houston plant, alongside Texas Medical Technology.
The profits generated by the joint venture will be reinvested in its operations and paid into the General Fund of the Modoc Nation. Ultimately, the Fund will benefit members of the nation through scholarships, direct payments, infrastructure improvements and community programs.
Speaking about the joint venture, Omri Shafran, Founder and CEO of Texas Medical Technology, said:
This endeavor with the Modoc Nation is part of our larger aspiration to give back to communities that are able to contribute if given the opportunity.
Also, a representative of the Modoc Nation, Norman “Bud” Cool said:
The resulting economic opportunities could really begin to transform our community of tribal nations and have a positive impact on future generations.
About Texas Medical Technology
Texas Medical Technology was created by three entrepreneurs from diverse backgrounds, Omri Shafran, Dimitri Menin and Jad Shraim. Notably, Omri Shafran and Dimitri Menin are Israeli, while Jad Shraim is of Palestinian origin.
The company has a 144,000 square foot factory in Houston that employs 550 workers from 53 countries, including refugees.