The medical device tax, the implementation of the Affordable Care Act and vanishing venture capital funding, were all topics that caused a great deal of anxiety for many in the space.
Forget thriving in the space. Many just wanted to survive. Yet earlier this month, thriving in the medical device industry was the focus of the Southeastern Medical Device Association's annual conference held in Atlanta. In fact, the title of the conference was "Thriving During Healthcare Reform."
With the landscape more clearly defined, medical device firms seemed ready to move onto the next phase. Even venture capitalists flirted with the idea of getting more involved with med-tech. But entrepreneurs have to be more savvy. Just take it from one investor that spoke at the conference.
"We're looking for those medical device entrepreneurs that understand all of the implications that their device would have in the ecosystem," said Tom Hawes, MD, managing director, Bluecross BlueShield Venture Fund/Sandbox industries during an investor panel at the conference.
In my estimation it's good to see medical device firms thinking positive and making the best out of a tough situation.