Just how does a medical or surgical
device get to market?
Ideally, the conscientious doctor, whose
longstanding involvement at the forefront of clinical innovation leaves
him well-placed to articulate an innovative idea, is also a
swashbuckling capitalist at heart.
In reality, however, being at the vanguard of
patient care innovation generally precludes mastering the arts of
- protecting and perfecting intellectual
property
- attracting capital at favorable terms
- finding grant monies if available
- developing an R&D network for prototyping
- estimating market potential
- developing a channel strategy
- navigating the FDA 510(k) process
- negotiating a successful sale of the product
idea or company to a big device player
That last part is especially tricky. The
device "big boys" play hardball. They know that the
physician innovator is likely not to be the hardest-nosed
businessperson. They know that the physician can be bought cheaply
by putting the inventor's name on the product and flying the surgeon
around the world to launch the idea. Name and some travel in lieu
of cash: this mightn't be the worst state of affairs if
the purchasing device manufacturer were to forego the profits in favor
of a medical charity. But, as we all know, they don't. They
keep those profits.
Fundamentally, this isn't fair. If
there are to be profits, those profits should be more equitably divided.
This is not to say the device manufacturer have no place; they certainly
do, and are often an excellent exit strategy. But the innovating
physician needs better advice throughout the entire process of taking an
idea to market.
Fortunately for the physician with an idea who
isn't also a swashbuckling star capitalist, now there is help: The
Clinincubator. For Physicians, By Physicians™
The Clinincubator (Clinical Device Incubator) is
an Aries Medical Holdings company. Aries is a New York City-based
medical device incubator firm, providing turn-key solutions to
innovating physicians.
Aries Medical Holdings was founded by Robert L.
Jones, MD MBA formerly VP of Perioperative Services and Professor of
Anesthesiology at New York Presbyterian/Weill Cornell Medical Center.
Aries has a special emphasis on surgical devices, but its methodologies
and services are applicable to all physicians.
A sister company,
US Surgery Statistics
provides annual surgical volumes in the US across 5,400
procedures to assist in preparing market size estimates.
