Last month, 100 representatives from over 40 Enterprise Ireland client companies gathered in the J.E. Cairnes School of Business & Economics, NUI Galway for a one-day seminar on winning business in the US medical device market. In attendance were a number of US-based senior executives from medical device giants such as Boston Scientific, Medtronic and Stryker.
The Enterprise Ireland office in Boston invited ten guest speakers from companies such as Boston Scientific, Medtronic, Terumo, Stryker, Arsenal Medical, Sapheon and MedCelerate to discuss the procurement process, regulatory approval, reimbursement and other key issues that must be understood in order to successfully export into the US medical device market.
The Enterprise Ireland event June also involved over 80 individual buyer meetings between client companies and the US-based senior executives, while John Power, CEO of Aerogen and Paddy Mulholland, Managing Director of VistaMed shared their experiences about successfully winning business in the US medical device market as an Irish company.
Speaking at the event, Gerry Murphy, Executive Director of Enterprise Ireland said “the US Med Device sector is undoubtedly the most important med device sector worldwide, valued at $127 Billion per annum and expected to reach over $151 Billion by 2015. This is a really practical way for Irish medical device companies to learn from US experts and proven Irish companies about how best to be successful in the world’s main market. Apart from the strategy and technical mentoring on offer, this event provides an opportunity for these Irish firms to meet executives and buyers in individual meetings. We expect business partnerships to begin at this event that will ultimately lead to increased exports.”
The medical technology sector continues to be a key success story for Ireland and is a very important contributor to the economy. The industry now employs over 25,000 people in over 250 companies, with exports of over €7.2 billion per annum which continues to grow year-on-year. In addition to the rich landscape of world leading multinational companies, Ireland has fostered the growth of a highly dynamic, vibrant and innovative indigenous company base. Indeed, with fifty percent of the Irish medical technology company base now composed by indigenous firms, the sector has never been in a stronger position to achieve success in the United States– the largest medical technology market in the world. The Enterprise Ireland office in Boston works with a wide-range of Irish medical technology companies looking to export to the US market.
Back row from left to right: Eddie Goodwin, Manager Boston Office and VP Medical Technologies & Pharma at Enterprise Ireland; Dr. James Barry, Executive VP and COO at Arsenal Medical; Dr. Arthur Rosenthal, CEO at gEyeCue Medical Systems and recently appointed Enterprise Ireland Start-Up Ambassador and Dr. James Cunningham, Director of the Institute for Business, Social Sciences and Public Policy at NUI Galway.
Middle row from left to right: Marie O’Malley, Senior Director of Supply Management at Medtronic CardioVascular; Ken McDonnell, Global Business Development Director at Terumo Medical; Greg Davis, Founder & CEO at MedCelerate Consulting Group; Thomas Byrne at Director of Health Economics and Reimbursement, Boston Scientific Corporation and Gerry Murphy, Executive Director at Enterprise Ireland.
Front row from left to right: David Cassak, Managing Director Medical Devices at Windhover Information – Elsevier Business Intelligence; Ryder L. Russell, Director Research & Development/Director Divisional Quality Assurance at Stryker Corporation; Dr. James J. Browne, President at NUI Galway; Paddy Mulholland; Managing Director at VistaMed and Dr. Emer Mulligan, Head of School at J.E. Cairnes School of Business & Economics, NUI Galway.