For the past decade (actually, more like 12 years), we have been identifying and tracking medical technology startups. These are companies that we identified sometimes only a week or two after their company registrations were filed (and, invariably within the preceding two years) who started businesses to develop and commercialize a technology falling in the field of “medtech”.
We view medical technology (medtech) as principally medical devices and equipment, but also all technologies that are directly competitive with or complementary to technologies represented by therapeutic or diagnostic medical devices/equipment.
This a fairly broad definition, but we feel it is appropriate because it considers not only the nature of the technology itself but any de facto competition to that technology.
Let’s say you are a manufacturer of coronary stents. Is your competition only other manufacturers of coronary stents? How about angioplasty devices? How about drug-eluting balloon angioplasty? How about atherectomy? How about robotic, percutaneous or traditional coronary artery bypass grafts? And while we’re at it, how about a drug that reduces atherosclerotic plaque to a level obviating the need to even consider interventional cardiology or cardiovascular surgery (“Other than that, Mrs. Lincoln, how did you enjoy the play?”)? Can you really ignore the big picture?
So, we pretty aggressively identified and categorized new medtech companies. We do this because these companies are inherently of interest to any of our clients (small, medium or large), they reflect important medtech trends and developments and, eventually, these will be (or already are) our customers.
Below is a table detailing the clinical and technology focus (multiple categories may apply to individual companies) in the Medtech Startups Database:
|Blood, organ, tissue||68|
|Critical care, patient monitoring||14|
|Interventional radiology, vascular surgery||108|
Source: MedMarket Diligence, LLC