This past year has been truly interesting with a slew of collaborations in the medical device industry. The growth of healthcare and the introduction of innovative technologies have resulted in major partnerships in medtech sector, allowing companies to achieve what they could not have on their own. There has been a significant shift in the sector driven by longitudinal data capture, focus on economic value over clinical distinction, growth of the Internet of Things, and the consumerization of medicine.
Here’s a look at some of the major types of collaborations that made 2015 a great year.
- Medtronic Data Collaboration with Samsung and IBM: The growth of value based healthcare has made data the backbone of clinical decision support and this has led to a number of data collaborations in the medtech industry. Medtronic is one such example who partnered with IBM Watson Health to gain the mine of valuable information on diabetes insulin pumps and detect certain patterns in the data. Medtronic also expanded its alliance with Samsung to develop digital solutions for its neuromodulation implants.
- GE Healthcare’s Provider Collaboration: Hospital customers have become a major target for medtech companies so as to reduce the cost of healthcare. By signing a seven year agreement with the Temple University Health System, GE Healthcare will be able to provide high quality radiology equipment and also end up saving nearly US$40 million in the form of operational costs.
- Dexcom and Verily’s Product Collaboration: Looking to create cheaper, faster, disposable, and smaller continuous glucose monitoring systems and develop a platform for improved diabetes care, Dexcom has partnered with Verily.
- Edwards Lifesciences Signs Agreement with CareFusion to Tackle Interoperability Issues: Interoperability is key in achieving improved patient care and overall hospital efficiency. Looking to overcome this challenge, Edwards Lifesciences has signed an agreement with CareFusion wherein the latter’s Alaris infusion pump and the former’s hemodynamic monitoring systems will work side by side to ensure surgery patients are getting enough fluids.