Declan Keane is a senior embryologist with 20 years experience in Ireland and abroad. Keane set up ReproMed clinic in Dublin in 2009 and has since opened a clinic in Kilkenny, with plans to open another in Limerick before the end of the year, and a second clinic in Dublin in early 2014.
What sets your business apart?
At ReproMed we look after small numbers of clients at our clinics in Dublin and Kilkenny and concentrate on the quality of our patient care. There have always been the same fertility problems out there but maybe the age of people presenting to fertility clinics has increased slightly. People tend to get married or try for a baby later in life. My team and I support patients through the physical and psychological issues associated with infertility.
There are more people coming forward looking for quality service provision and they’re shopping around. They’re using a number of parameters including cost, success rates, location and internet feedback.
These days internet feedback plays a key role in the decision making process for people looking to avail of our services.
What was the best piece of business advice you've ever received?
The best advice I received is to stay focused on your business growth and don't leave the passion for your business behind Let your core principles be the main drive for your business.
What's the biggest mistake you've made in business?
At times I have allowed distraction to cloud my vision. My problem is that I have too many visions and ideas for the business that it causes me to get distracted. Now at ReproMed, we have a strong focus on our business goals and maintaining the passion to achieve those goals for the next three years.
And your major success to date?
Getting the business off the ground in the first place and getting it where it is today. Infertility affects one in four Irish people and this figure rises when the impact on a patient's family, friends and colleagues is taken into account.
Since 1992, I have worked at the forefront of Irish reproductive health and was one of a team of specialists responsible for the introduction of intracytoplastic sperm injection, cryopreservation of semen and cryopreservation of embryos and oocytes to Irish clinical embryology. We began the business in 2009 in Dublin, have an additional clinic in Kilkenny and employ 10 people.
Whom do you most admire in business and why?
I really admire Michael Dempsey, a former managing director with pharmaceutical company Bristol Myers Squibb who now works with Fás. He is a business mentor that I have used and has given me solid, clear advice and clarity with regard to moving forward with the business.
Based on your experience in the downturn, are the banks in Ireland open for business to SMEs?
Yes, absolutely, the banks have been open to me and my business. While they have been cautious and used due diligence on proposals and what we're looking for, they have in general been very supportive of our business plans.
What one piece of advice would you give to the Government to help stimulate the economy?
The first thing would be to reduce their cost base and particularly bring the public service cost base under control. They need to create the right environment for small to medium businesses to flourish. That's the key to success.
What has been the biggest challenge you have had to face?
Coming back from the States in 2009 and starting up a fledgling business in a very competitive environment. I looked for niche markets that would best serve the fertility population through consumers of the services. We built it up on a modular basis; clinical services that were poorly serviced by existing service providers.
We looked at the niches markets on a calculated basis building up the services we provide, one by one. We now have international arms where we work with clinics in Spain, the Czech Republic, Japan and the US.
My other biggest challenge has been trying to strike the balance between my business and personal life.
How do you see the short- term future for your business?
I see an exciting future in the years ahead. We have had great client feedback and plans for a national network of regional clinics.
We hope to expand into the west of the country to allow more people to access the quality services we provide. It’s also important to continue to focus on the quality of the people who work for us to ensure the best service for clients.
What is your business worth and would you sell it?
I couldn't put a price on it but it's worth a lot to me personally and to the team. Like any good business, we would be open to offers depending on the terms and conditions.
In conversation with Áine McMahon
