Opening up new market opportunities for Irish medtech companies

The Med In Ireland business event in October saw Enterprise Ireland sign a strategic partnership with AdventHealth, a leading US healthcare provider headquartered in Florida, to allow Irish companies direct access to key market leaders in the US.

As a result, Irish medtech companies will have access to clinicians and key decision-makers in a major health network, which will provide valuable insights into the products and services that are required to meet market demand in the future.

Founded in 1908 by pioneering Seventh-day Adventists who believed in whole-person health, AdventHealth has grown into one of the largest non-profit hospitals in the United States, caring for more than two million patient visits per year in metro Orlando, Florida, alone.

AdventHealth operates more than 50 hospitals and hundreds of care centres in nearly a dozen states, making it one of the largest faith-based healthcare systems in the United States.

AdventHealth Orlando is a designated statutory teaching hospital and trains physicians from around the world on the newest technology and procedures.

The system provides a wide range of health services, including many nationally and internationally recognised programmes in cardiology, cancer, women’s medicine, neuroscience, diabetes, orthopaedics, paediatrics, transplant and advanced surgical programmes.

The AdventHealth Research Institute has more than 250 investigators and more than 500 clinical trials in progress. AdventHealth Orlando is also home to the Translational Research Institute for Metabolism & Diabetes and the Nicholson Center for Surgical Advancement.

Initiative

The partnership is a market-led initiative, co-ordinated by Enterprise Ireland to allow AdventHealth to connect with companies across sectors including medical devices, diagnostics, healthcare services, and software and information technologies.

AdventHealth is seeking companies focused on improving outcomes, lowering costs, and improving quality of care and will work with Enterprise Ireland and its clients to develop and commercialise new medical technologies, secure joint ventures and provide platforms to integrate with US healthcare companies.

“This partnership between AdventHealth and Enterprise Ireland will give Irish medical technologies and healthcare companies the opportunity to supply innovative products and services to one of the leading healthcare providers in the US,” said Minister of State for Trade, Employment and Business Pat Breen.

“Having a world-class healthcare provider such as AdventHealth enter into this strategic alliance is a great endorsement of what Ireland has to offer in healthcare provision and medical technology.”

Daryl Tol, president and chief executive of AdventHealth’s Central Florida Division, said: “As a national organisation focused on providing world-class healthcare, AdventHealth has partnered with US businesses of all sizes to find solutions to our greatest opportunities.

“Working with Enterprise Ireland allows us to search for healthcare innovators on a global scale and find the most innovative solutions to improve our patients’ health and wellbeing.”

Among the principal benefits of the agreement will be the insights into the US healthcare system which Irish medtech firms will be able to avail of, according to Enterprise Ireland executive director Stephen Creaner.

“The agreement will prove very beneficial to Irish companies looking to gain a deeper understanding and access to the US health system. AdventHealth is a global leader in best practice of improving patient experiences and we are delighted to officially enter into this strategic alliance which will ultimately improve the efficiency of bringing new Irish technologies, products and services to benefit patients in the US, while further confirming Ireland’s status as a global leader in healthcare solutions.”