Our Fortune 500 medtech client had an ambitious global growth plan. They wanted to determine how to add new value to existing medical devices. The group brought in our advisors to help decide if incorporating new antimicrobial biomaterials into their devices would add value. Further, if we determined that investment was the right choice, our client wanted us to advise on materials to consider.
While our client had identified potential options, we expanded the search. It was important that we take a broader view. We wanted to ensure they understood what additional existing or emerging biocompatible materials were under development. In our technology scouting efforts, we targeted emerging and commercially ready technologies that hadn’t been uncovered.
Narrowing our efforts, we focused on one biomaterial with exciting potential. We conducted additional research, contacted relevant technology providers, and assessed each provider considering our client’s needs. Using our insights, we validated our client’s decision to invest in a company that offered the capability they sought. Our work led to an acquisition.
Our client didn’t only expand its product offerings. They made their product available to the healthcare industry. In doing so, because the product reduces infection rates and lowers costs, they added value to hospitals, patients, and payers.
This biomaterial has received numerous accolades, including innovative product of the year and a Fast Company World Changing Idea finalist. Our client continues to expand the acquired technology into other product areas, reducing the risk of infection for patients.