Health Innovation Series drives NSW Government MedTech strategy

Congratulations to NSW Government who announced their medical technology development strategy 2018 yesterday, with the aim of advancing the MedTech ecosystem for innovation and positioning NSW as a premier destination for medical technological development.

The Hon. Bradley Hazzard MP, Minister for Health, and Minister for Medical Research said in the report; ‘the strategy recognises the extraordinary opportunities that innovative medical devices and technologies offer, not only to improve patient and health system outcomes, but in building businesses, creating jobs and attracting investment in NSW.’

According to the report, the strategy aims to boost competitiveness, create 28,000 jobs and add 18 billion dollars in gross domestic product by 2025.

Hon. Hazzard acknowledged in his speech the impetus for the strategy – the Health Innovation Series boardroom lunches, hosted by specialist advisors to the health industry William Buck, HWL Ebsworth and Westpac.

Since 2016, the Health Innovation Series has brought together innovators, business leaders, industry bodies and government to drive collaboration and initiatives that would benefit the health industry. These events provided a platform for thought leadership and networking to make a positive difference and address ongoing health challenges in Australia.

Mark Calvetti, Director of Corporate Advisory and member of the William Buck Health Services Group who attended the announcement, says the key strategies and initiatives will improve collaboration and the MedTech business environment.

“Congratulations to The Hon. Brad Hazzard and The Hon. Niall Blair for their proactive approach to overcoming the issues and challenges currently facing the MedTech industry in NSW,” Mark says.

“I am proud the Health Innovation Series has successfully achieved its goal to facilitate learning and advance the interests of both our health clients and the wider MedTech community,” Mark says.

“In particular, I am excited about the ‘MedTech Connect’ initiative, outlined in the strategy. It will enable networking, facilitate connections and collaboration among the MedTech industry and other key industry sectors, including SMEs,” he says.

“As specialist advisors to the middle market, we advocated for a strategy that bridged the gap between the SME market and enhanced collaboration between government, nongovernment, as well as small and large enterprise.”

“This strategy will help support the SME sector and overcome our main concerns raised during the Health Innovation Series, including funding and assisting the innovators right through to commercialisation,” he says.

Calvetti said further robust discussions regarding the strategy would continue.
ENDS

 

To read more about the health Innovation series:

Innovation in Health Roundtable
Health industry lacking incentive to innovate?
Saving the medical innovation funding crisis
How technology is changing the healthcare sector