The Role of New Markets Advisors in Healthcare Case Study in Medical Devices.

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Presentation transcript:

The Role of New Markets Advisors in Healthcare Case Study in Medical Devices

General challenges facing medical device companies 2Copyright 2016 New Markets Advisors New excise tax on medical devices Lack of patient adherence and engagement Emerging preference for non-invasive and wearable devices Need to integrate with mobile apps and provider interfaces Demands from many different stakeholders Lengthy approval processes and high hardware development costs

The challenge 3Copyright 2016 New Markets Advisors The Client: DeviceCo Leading medical device manufacturer with billions of dollars in annual revenue Market presence in nearly 100 countries and over 20,000 employees worldwide The Challenge: DeviceCo had assembled a team to develop a new device or related offering that could bring in at least $5 million in new annual revenue within 2 years DeviceCo needed assistance identifying and evaluating opportunities, creating a business plan in support of promising opportunities, and identifying potential partners to help bring the opportunity to market

The approach 4Copyright 2016 New Markets Advisors Searching for new revenue streams: The first phase of the project involved researching existing offerings in three target fields and identifying marketplace gaps and opportunities to play For the second phase, New Markets developed several value propositions to help DeviceCo determine how it wanted to address the needs of different stakeholders - New Markets also built a criteria screen to help determine how various opportunities could fill market voids while playing to DeviceCo’s strengths In the third phase of the project, New Markets helped design a comprehensive solution that encompassed a suite of components that could aid multiple key stakeholders, reduce healthcare costs, and improve outcomes In the final stage of the project, New Markets identified acquisition targets and potential partners to help bring the solution to market Promising startups?

The results 5Copyright 2016 New Markets Advisors Macro-level impact: New Markets helped DeviceCo recognize the value in pursuing service-oriented opportunities New Markets helped shift DeviceCo’s focus from isolated opportunity areas to a comprehensive solution that could create more value for stakeholders and provide higher revenues Project-level impact: New Markets helped identify the most promising opportunity areas from a large range of potential New Markets helped create a business plan to garner support for the opportunity from senior leaders New Markets generated detailed financial projections to show the potential for the proposed solution, as well as cost estimates for a pilot launch and full-scale launch