Med tech has the reputation of being incremental. Of being populated by small companies, with little investment and tiny revenues or, perhaps worse, giant conglomerates with minuscule ambitions for novel products addressing large markets.
But big ideas seem to be popping up more and more in med tech--everywhere from the deal fodder for postmerger Medtronic ($MDT) or innovation-hungry Royal Philips ($PHG), to lofty series A rounds for novel tech aimed at solving major problems, to aspiring IPO candidates that successfully draw in $100+ million.
Optimistic industry observers see med tech as preparing to conjure up an innovation and financial renaissance similar to what biotech has experienced for about the last three and a half years, after largely languishing for a decade. And it's becoming clear that for some major and growing medical problems, like stroke, obesity and even diabetes, med tech could eventually play a more crucial role than therapeutics.
In fact, biotech enthusiasm is spilling over into med tech. And the long biotech upswing is serving as an inspiration--and a source of cash--for the long-neglected sector that some see as lining up for a major leap of its own. The deep pockets and rapid-fire innovation in information technology is also benefiting med tech as it incorporates more of that sector's advances and attracts some of its major corporate players and investors.
We see it every day--all day long. But we need your help to ferret out the best, most timely examples of med tech innovation. Who has ambition and the potential to make a real leap forward, while being wildly appealing to physicians, patients and payers across a global healthcare environment that is increasingly value-based?
Please send us your picks for medical device and diagnostics companies that are early, but already firing on all cylinders, with exceptional science, market potential, financing, backers and partnering in play.
As always, the nominees should meet the following criteria:
Companies must be privately held, not publicly traded.
Companies should be working on treatments for human diseases.
Executives must be available for interviews and agree to keep their status in our selection process confidential until the final list is announced.
International or emerging markets contenders are particularly welcome.
The deadline for submission is August 15.
Here is the nomination form.