Gratitude to our colleagues in this MedTech industry!

Departments - MedTech MindSet

Pushing forward in volatile times…

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PHOTO ©ROBERT KNESCHKE | ADOBE STOCK

Doing a monthly column about the business of MedTech is rewarding, interesting, and exciting for us because we love this industry. And, as M&A practitioners, we enjoy working with the risk- takers who push our industry forward on multiple levels to benefit the practitioners and patients we serve.

Working with emerging technology companies and small- and medium-sized MedTech entities to maximize their stakeholder value is stimulating and satisfying.

We have learned many things while working alongside passionate entrepreneurs and innovators.

We are impressed by how many of you are working so hard on your product(s) to potentially save your grandmother’s life or the life of a friend or even someone you’ve never met.

As we thank healthcare workers on the front line of the COVID-19 pandemic (and we should be forever grateful for their efforts), we want to also use this moment to thank you! We are grateful for you regardless of your title or position in your organization. Anyone who has created a new product, run an organization, sold or marketed a product that made a difference, or simply worked that extra shift to ensure clinicians have what they need to save patients’ lives, we thank you!

We are grateful for your work and we are proud of your responsiveness to the volatility of this industry through upsides and downturns.

Unfortunately, this pandemic is creating almost unmanageable upside requirements for some while reducing business volume for others. Businesses related to critical care and respiratory products are racing every day to meet the new requirements to provide tools to those on the front lines.

If your business is related to elective procedures (some of which would become life threatening if not performed), you’re experiencing a downturn unlike any you may have seen in your time in the MedTech Industry.

Whether your company’s products are aiding current clinical needs to help COVID-19 patients or if you’re trying to find a way to hang on to your business as your revenue has been pushed out to later dates; we salute you!

In the former scenario, you and your colleagues are sacrificing your time and working every angle and every shift possible to meet the crushing demand. In the latter scenario, you and your colleagues are sacrificing revenues to allow pandemic priorities to take the lead. It can’t be easy but you’re doing it without complaint as you know these steps are also necessary to help frontline clinician heroes and clear the path for urgent patient priorities.

Whether you’re in the upswing demand or the downside drop, we appreciate you pushing through the volatility to continue to meet the spirit of what this MedTech Industry offers – rewards that money can never define while addressing clinical needs that benefit humankind. We sincerely hope that our family members never need your products. However, we are grateful that you are there in case they do.

And may you receive the accolades of grateful nations around the world!

MedWorld Advisors
https://medworldadvisors.com

About the authors: CEO Florence Joffroy-Black is a long-time medtech M&A and marketing expert. She can be reached at florencejblack@medworldadvisors.com. Managing Director Dave Sheppard is a former medical OEM Fortune 500 executive. He can be reached at davesheppard@medworldadvisors.com.