Med-Tech Innovation Industry News
INDUSTRY NEWS
Venture capital is coming our way Respondents to a survey conducted by the US National Venture Capital Association (
www.nvca.org) indicated that investors plan to shift focus towards Europe and Asia. Overall, 42% of respondents’ companies expect to decrease investment in US medical device companies. European markets can expect to benefit from this decreasing investment: 36% of respondents indicated plans to increase investment in life science companies in Europe and 44% planned to increase investment in Asia. The survey, “Vital Signs: The Crisis in Investment in US Medical Innovation and the Imperative of FDA Reform,” was conducted online and drew responses from 156 NVCA member firms investing in healthcare sectors. Almost all of the respondents indicated that FDA reform,
Med-tech business is set fair
Results of the MedTech Barometer survey, conducted by Simon-Kucher & Partners, show that 2011 is expected to be a good business year for medtech. More than 40% of respondents believe this year will be better or much better than 2010, and expect short-term revenues and profits to slightly increase to 8% and 6%, respectively.
Respondents from more than 70 international medical technology companies also shed light on current challenges in Europe. Of respondents, 59% expect general market prices to be worse or much worse than 2010 due mainly to commercial aggressiveness and expansion of purchasing pooling practices. Less than 20% of respondents consider regulatory issues to be a high challenge. Full results of the survey are available from the company.
www.simon-kucher.com
Join forces and prosper
The Association of British Healthcare Industries and Medilink UK have signed a formal concordat to support joint working to achieve maximum impact for the medical technology industry. The UK industry comprises nearly 4,500 companies employing 55,000 people and producing a turnover of £13 billion. ABHI and Medilink UK will now work closely to develop policy on NHS purchasing and on UK uptake of medical technology, and will take a coordinated approach to international trade to improve support for small and medium-sized enterprises (SMEs). Tony Davis of Medilink UK, pictured on the right with Peter Ellingworth Chief Executive of ABHI, said, “It’s a natural fit for our two organisations to work closely for the betterment of UK healthcare and industry. The statistics and anecdotes we gather from day-to-day work with SMEs support the crucial work ABHI is doing to raise the profile of the medical technology industry within Government.”
www.medilinkwm.co.uk;
www.abhi.org.uk
08 ¦ November/December 2011
that is, better predictability and increased efficiency, would have a positive impact on their investment in the US. If the situation is left unaddressed, the survey warned that the US leadership position in medical innovation will be in danger. Read the full story at
www.cardiobusiness.com
Enterprise Ireland fosters multi-million deals
Enterprise Ireland’s Med in Ireland Expo in Dublin on 27 October welcomed 250 med-tech and healthcare companies from
31 countries. During the event, more than 930 commercial meetings were scheduled between 80 Irish medical technology companies and potential business partners from the USA, Japan, China, Europe, the Middle East and South America.
Opening the event, Richard Bruton TD Minister for Jobs, Enterprise & Innovation said, “This event presents tremendous opportunities for the sector – €55 million in new business was generated for participating Irish companies from previous Med in Ireland events.” Minister Bruton also presented the inaugural Clinical Innovation Award on behalf of Enterprise Ireland & Cleveland Clinic, USA, to Dr Niall Davis, a surgeon working in the Mid-Western Regional Hospital, Limerick. Dr Davis has developed a new technique to ensure safer and more effective positioning of urinary catheters.
Presenting the award Minister Bruton said, “In addition to €15,000 to develop the commercial feasibility of this clinical innovation, Dr Davis will have the opportunity to work with Enterprise Ireland and Cleveland Clinic to develop his idea into a marketable product. The commercialisation of publicly funded research is a critical activity in our bid to increase economic growth and this is one of many projects designed to transform the output of State funded research into exportable products and services.”
www.enterprise-ireland.com/en
www.med-techinnovation.com
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