Tom Sommer, Massmedic “Els clústers es basen en construir sobre les fortaleses preexistents”

1. THE MEDICAL DEVICE
INDUSTRY IN
MASSACHUSETTS
ACCIÓ Delegation Briefing
March 21, 2012 – Ames Hotel – Boston, Mass.

2. In the beginning….
Prof. Porter’s Cluster Theory “Building on Strength”
 1995 – State Task
Force on
Competiveness
 Study on the
economic impact of
the medtech
industry in Mass.
 Industry Executives
Form MassMEDIC

3. “Creating a Meeting Place”
 Common Issues & Challenges
 FDA – CMS
 Financing
 Commitment to Innovation
 Product Development
 Manufacturing Questions
 Workers
 Partners

4. MassMEDIC Launched – May,
1996
“To create a positive
environment and
united voice for the
Massachusetts
medical device
industry.
To implement
collaborative
initiatives which make
Massachusetts the
medical device
research,
development and
manufacturing capital
of the world.”

5. Massachusetts & Medical Devices
–
We’re Number 2!
 > 250 OEMs
 > 1,000 FDA-registered facilities
 80,000 jobs – direct & indirect
 >$13 B in annual sales
 # 2 in VC investment
 Top Tier in Value-Added Production
 #1 medical device patents (per capita)
 Exports - #1 commodity exported from Mass. -
- 10% of all US medtech exports

6. Why Massachusetts?

7. Wide Range of Medical
Products

8. Massachusetts’ MedTech Leaders

9. A Vibrant Start-up Community
 Spin-outs from
Companies/Universities/Teaching Hospitals
 Support System
 Technology Licensing Offices
 Entrepreneurial Culture
 Range of specialties
 Weak early-stage financing environment
 Acquisition Target – Company Develops

10. MassMEDIC Today
 > 350 Members
 1-2 Meetings per
Month
 Largest state medical
technology
association in the
U.S.
 Buy-in of all major
players in the
medtech cluster –
OEMs – Suppliers –
Teaching Hospitals –
Universities –

11. MassMEDIC’s Three Objectives
 Access
 Advocacy
 Emerging Company Support

12. Access to….
 Information
 Meetings/Seminars/Reports
 Suppliers
 On-line Suppliers Director
 Industry Leaders
 MedTech Leaders Forum
 Policy Makers
 Capitol Hill Fly-In/FDA Update/State House Visits
 Each Other
 Networking!

13. International Partnerships
 Global Industry –
MassMEDIC Priority
 MEDICA
 Trade Shows –
Europe – Asia
 MOUs
 Conferences
 NIMAC

14. Advocacy
Federal Affairs Working Group Top Priorities
 FDA Reform
 CMS –
Reimbursement
Issues
 Capitol Hill Fly-In
 Congressional
Delegation Briefing

15. Advocacy
State Affairs Working Group Top Priorities
 Business Climate
Issues
 Tax Credit for
Medical Device
Companies
 Gift Ban Law
 Payment Reform

16. Worker Training
 Needs Assessment
 Regulatory Knowledge
 FDA 101
 WPI
 Northeastern University/Regis College
 EN 14285 Training

17. Emerging Company Support
 Continue Cluster
Growth
 Financing – Corporate
Governance –
Regulatory –
Compensation – Hiring
– Real Estate –
Partnerships
 Investors Conference
 Recognition of
Innovation

18. Emerging Company Support

19. Early Stage Community
 Large & Growing
 No support system for Medtech Start-ups
 Financing
 Venture Capital Fund?
 “Harness the expertise of the established
medical device community to support early
stage companies”

20. How to Support Early-Stage
Companies ?
EDRC MedTech IGNITE
 Executive-in-  Connect –
Residence Springboard
 Help all medtech Initiative UCSD @
start-up companies San Diego
 No Filter  Select Companies
 Unsustainable –  Coaching
Failed  Prepared for
Investors

21. MedTech IGNITE Today
Investor Ready Companies Support Services
 Exposure to
Potential Investors
 Information on
regulatory &
reimbursement
challenges
 Referrals to Experts

22. Results
 “Touched” over 65 companies in three years
 Provided coaching for 12 companies
 Facilitated investor interaction
 Web Resources
 Supported team-building
 Brought IGNITE to the four corners of the state
 Initiating Physician/Entrepreneur Partnerships

23. Investors Conference
 25 early stage
companies
 10-minute
presentations
 VC/Angel Investors
 Introduction to the
Community
 Financings!

24. Challenges Ahead
 MedTech Industry Under Assault
 Provide the best information to our members
 Financing for Early Stage Companies
 Public Policies that Encourage Growth

25. Moltes Gràcies
Thomas J. Sommer
President
Massachusetts Medical Device Industry Council
(MassMEDIC)
715 Albany Street, TW1
Boston, MA 02118 USA
+1 617 414 1340
sommer@massmedic.com
www.massmedic.com