RecMed has gained national attention because it’s 14 year old CEO turned down a $30 million buyout offer. This has surprised a lot of people, and most think he should have taken the money. This young CEO has different plans.
RecMed vending machines are very unique. They aren’t a normal vending machine because it doesn’t dispense M&M’s or a bag of chips. But instead, it sells first aid kits. The idea is that people at sporting events need first aid kits due to injuries. These medical vending machines are there to supply the items that they need fast.
What Exactly Are RecMed Vending Machines?
RecMed is a company that specializes in medical vending machines. The vending machine that it has produced is very innovative to the market. You can place a RecMed vending machine anywhere! The ideal location for a RecMed vending machine is at a water park, fairground, sporting event, or amusement park. But really anywhere where people can get injured is a great place to have one.
Not many people carry around band-aids or alcohol wipes waiting to get a cut or a wound. RecMed helps people who need first aid fast when they don’t have the supplies they need on hand.
RecMed’s founder saw a need in the marketplace for a medical vending machine. While he was at a baseball tournament he noticed that people needed a first aid kit. But there were none around, this got him thinking and in a few months he came up with the idea for RecMed. Having a RecMed vending machine where there is lot of people would be a good idea.
History of RecMed First Aid Kits
Not many kids can call themselves an inventor. Taylor Rosenthal can, though! At 14 years old he came up with the idea for RecMed. He has won numerous awards for his idea. So far Taylor has raised over 100k in startup money because investors saw how valuable RecMed could be.
Taylor was thrown into the national spotlight when he decided to reject a $30 million buyout offer. At the time he commented that he wanted to further develop the company because he knows that it can be worth much more. He wants to sell the company for more than $50 million.
When he first came up with RecMed. He thought about using a pop-up shop at baseball tournaments. But realized that wasn’t a good business model. Because he would have to pay someone to sit there for 8 hours. The overhead alone would kill the business. He decided that an automated vending machine would be the best way to supply people with on demand first aid kits.
How Do RecMed Vending Machines Work?
RecMed vending machines are similar to a Redbox in that it looks like a large box. RecMed has a touch screen where you can pay and choose which kind of first aid kit that you want to buy.
There are two options to pick from when you are buying from a RecMed.
- You can pick a prepackaged first aid kit, these kits come in small and large. The cost ranges between $5.99 and $14.99.
- Another option is to pick individual items like bandaids or tape. Which can cost anywhere from a couple of bucks to $20.
When Will RecMed Vending Machines Be Available?
RecMed has said they already have received a soft order of 100 vending machines from Six Flags amusement parks. This should mean that RecMed should be available very soon near you. There are other companies that are very interested in buying RecMed vending machines as well.
The cost of a RecMed vending machine is expected to be about $5,500 each. Not only will RecMed make money on selling their medical vending machines. But it will also make money on the restocking of their vending machines that they have already sold.
Taylor has said in interviews that he has a lot of BIG PLANS for RecMed. He has mentioned that he didn’t want to sell the company for anything less than $50 million and he plans to do this before he graduates high school. You should really watch this kid because he is going places. We hope that Taylor achieves all of the goals that he sets out for himself.