Owner/President: Diane J. Seif Company:_ Regulatory/Clinical Consultants, Inc. (RXCCI) Address: 200 NE Mulberry, Suite 200 Lee’s Summit, MO 64086 E-mail: Web Site: RXCCI.COM Type of Business: Contract Research Organization Year Founded: 1998
RXCCI provides contract research support to drug and medical device companies worldwide to assist in research and development of new medicines and medical devices that improve patient health, safety and quality of life. We monitor clinical studies of new drugs and assist clients in making submissions to the FDA for approval. We also provide publishing, data management, training, professional writing, editing and quality control support. I founded RXCCI along with my husband Vince in February 1998.
Personal Wealth I believe that wealth is not necessarily a monetary part of life but a part of how one feels about contributing to the community and world. Our company provides assistance in getting drug products approved through regulatory processes. By doing this, we help saves lives and provide a better quality of life for patients with many types of diseases. Our wealth is shared with our associates because RxCCI is an ESOP company, one in which associates become owners in the company.
As a result of RXCCI’s success, I am confident that my husband and I will be able to afford to provide our daughter with a quality college education. We have also been able to invest funds in real estate and the stock market.
My work requires long hours and time away from home. However, because of the company’s success, my family and I take several vacations a year to stay close.
Financial success has enabled us to play a role in several charities and to significantly contribute to the finances of our church. As the primary owner of the company, my family enjoys greater financial security and my husband and I look forward to retirement confident that we will have the funds to enjoy these years.
Community Wealth RXCCI employs over 100 associates. From 2000 to 2002, our payroll totaled $11.3 million. During that time, we paid more than $1 million in corporate taxes and over $1 million in payroll taxes. We also paid over $450,000 in rent to local property owners and spent $3.9 million for travel booked with a local travel agency.
In addition to these financial contributions, our associates are active participants in United Way Day of Caring. Associates who travel save the free toiletries they get at hotels (soaps, shampoos, lotions, etc.) and contribute these to Lee’s Summit Social Services or to Hope House Shelter for Battered Women.
Social Wealth My husband and I are active participants in the United Way Program. I am on the United Way Board and serve as a chairman for the United Way New Account Development. We also support Lee’s Summit Social Services and the Hope House Shelter for Battered Women. I serve on the Lee’s Summit Chamber of Commerce Business Development Committee. I am very active in Lee’s Summit Education Foundation, Partner’s in Education for Lee’s Summit Schools and the advisory board for Commerce Bank. In addition, I am involved in Women Who Mean Business, the Women Lyceum and several task forces promoting women leadership, mentoring, and capital raising efforts.
I am also on the Lee’s Summit Community Foundation Board and serve as a Stephan Minister at our church.
Our company and its associates are involved in many other community activities on a year-round basis. Giving back to the community is a vital part of my everyday life.
Financing RXCCI has been self-financed with the help of a line of credit from Commerce Bank. We started with a small, $70,000 line of credit. Today our credit line is more than $1 million. It took time and teamwork with the bank to create the professional relationship that made this possible. We requested increases to the line as our business expanded.
Support Systems Commerce Bank has been a great supporter. Networking with former associates also helps. Our board of directors, composed of a CPA, pharmacist, Ph.D., venture capitalist, noted Ph.D. educator and prominent local minister—along with my husband and me—provide the backbone of support.
Greatest Challenge My greatest challenge is balancing my priorities among family, home and work. Incidentally, my husband sees this as his greatest challenge as well. Other challenges include seeking additional funds for acquisitions and expansion and finding the right people to continue our success.
Greatest Achievement Building the business from seven initial associates to more than 100 has been a big achievement. Further, we have been able to provide these associates ownership-sharing opportunities through our employee stock ownership plan.
A major source of satisfaction is pursuing medical research to develop new drugs for cancer, heart disease and a variety of other illnesses.
Founding and building RxCCI has been one of the greatest professional experiences of my life. I encourage other women thinking of starting a business to take the big step and get started.
