2015 has embodied a true kumbaya moment in healthcare.
Propelled by converging technologies and spurred on by the triple aim in healthcare, medtech companies have recognized the business value of collaboration. Throughout the year, they have struck interesting partnerships within and outside the medtech industry to achieve jointly what can’t be accomplished alone.
Of course one can argue that the medtech industry was borne out of collaboration between the medtech manufacturer and the physician eager to find better ways to treat patients. But the collaboration the industry is presently witnessing is of a different tenor and scope altogether.
“[Past collaboration generally [has been] within the ecosystem of medtech,” says Stacy Enxing Seng, former president of Covidien’s vascular business and a current board member of several healthcare companies. “Given the significant shifts occurring because of the Internet of Things, longitudinal data capture, consumerization of medicine and a clear shift from the concept of clinical distinction to economic value, I think ‘collaboration’ is now moving medtech players to consider new capabilities and new partners.”