NUI Galway and Enterprise Ireland Host Business Symposium on Winning Business in the US Medical Device Market
Tuesday, 12 June, 2012: Industry leaders from household-name American medical devices giants such as Boston Scientific, Medtronic and Stryker are in NUI Galway later this week to address a major symposium for Irish companies.
The event on Friday 15 June, organised by Enterprise Ireland and NUI Galway, will provide first-hand advice on ‘Winning Business in the US Medical Device Market’ from US industry experts while over 80 individual buyer meetings have also organised between the US representatives and the Irish companies in attendance.
Boston Scientific, Medtronic, Terumo, Stryker, Arsenal Medical, Sapheon and MedCelerate are among the US companies presenting at the event. Irish companies, Aerogen and Vistamed, will also give their insights into how they successfully sell into the US market.
In Ireland, the medical technology sector 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. With fifty percent of the Irish medical technology company base now composed by indigenous firms, the importance of the US - the largest medical technology market in the world – is critical to their success.
Speaking in advance of the event, Dr Emer Mulligan, Head of the JE Cairnes School of Business and Economics at NUI Galway, said: “In terms of innovation, research and development, Ireland has a proven pedigree in the med tech sector. However, there are many business aspects to cracking the US market - from procurement, to personnel, to legal issues, regulation and business culture - that must be appreciated. At this unique event, we hope to provide these invaluable business insights that will ultimately open doors in the US and enhance the success of Irish companies”
Gerry Murphy, Enterprise Ireland’s Americas Director, added: “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.”
Notes to Editors
For further information visit www.enterprise-ireland.com/USMedicalDevice or contact:
Ruth Hynes, Press & Information Executive, NUI Galway/OÉ Gaillimh
T: +353 91 495695 / email@example.com
Ciara Concannon, Press Manager, Enterprise Ireland
T: +353 1 7272284 / firstname.lastname@example.org
Presentation and panel discussions at the event include:
- ‘Expectations of international suppliers and navigating the negotiation process with large US Med Tech’
- Differences between Irish and US styles of business and how Irish companies adapt win sales in the US Medical Device market’
- ‘Current developments and trends in the Endovascular sector’
- ‘International competition in the market – what other international Medical Device clusters are doing in the US Medical Device market’
- ‘Recent personal experience of purchasing B2B from Irish Medical Device suppliers’
- ‘Insights into legal issues between Ireland and the US in relation to Life Sciences’
- ‘Regulatory, FDA and reimbursement issues for Irish companies’
- ‘How Irish start-ups can be successful it in the US’
- ‘Lessons from Irish Medical Device companies’ success stories’
Two Irish Medical Device companies share their experience and insights about succeeding in the US market
John Power – CEO of Aerogen
Paddy Mulholland – Managing Director of VistaMed
Marie O’Malley: Director of supply chain management at Medtronic Cardiovascular; Jim Barry: CEO of Arsenal Medical and former SVP new Technologies at Boston Scientific; Ken McDonnell: Global Business Development Director at Terumo; Art Rosenthal: Director of Cappella & g EyeCue and former CTO of Boston Scientific & Labcoat; Greg Davis: CEO of MedCelerate and advisor at Sapheon; David Cassak: Editor and Managing Director at Elsevier; publishers of IN VIVO and Start Up magazines; Senior executive from Stryker; John Power: CEO, Aerogen; Paddy Mulholland: CEO, Vistamed; Tom Maher: Partner at Byrne Wallace and former General Counsel for Elan and Amarin; Dr James Cunningham: Director of the Institute for Business, Social Sciences and Public Policy, NUI Galway.