Resetting the Vision for Medical Devices: How You and Your Company Can Thrive in the Emerging Global Healthcare Market - Tom Loarie, Mercator MedSystems
Tom Loarie, Mercator MedSystems - Speaker at the marcus evans Medical Device Manufacturing Summit Spring 2012, held in Las Vegas, NV, delivered his presentation entitled Resetting the Vision for Medical Devices: How You and Your Company Can Thrive in the Emerging Global Healthcare Market
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Resetting the Vision for Medical Devices: How You and Your Company Can Thrive in the Emerging Global Healthcare Market - Tom Loarie, Mercator MedSystems
2. Globalization
of the
Medical Technology Industry
gy y
2012 Medical Device Manufacturing and R&D Summit
Thomas M. Loarie, Executive Chairman
Mercator MedSystems, Inc.
5. Career Events 1968-2012
•Drug Device
AHSC •Division President Di iti
•Diagnositics
•eHealth
•Sales/Mktg •Ventures •IPO
R&D
•R&D •Financial Mkts
•China
1960 1970 1980 1990 2000 2010
Honeywell International •ADVAMED
Mfg Engineer •Manufacturing •Govt Policy
g
•Logistics
6. Key Events in MedTech 1960-2012
Cuts in Funding to AeroDefense •Health Reform
•ACOs
•M&A Hospitals
•TEFRA
•Kessler FDA
•DRGs
M&A
•M&A
•FDA A t
FDA Act i
•Segmentation
•Marketing
Globalization
1960 1970 1980 1990 2000 2010
•The Great
Social •GoldStandard Recession
Security •Emergence of •FDA Modernization Act •Implosion of
Act of Multi-National
Multi National •CMS takes front seat
CMS Venture Capital
1965
7. Key Events 1960-2012
•For Profit Hospitals
House Calls Hospital •HMOs •Segmentation
•Doc in the Box
Hospitals
•Hospitals
M&A
1960 1970 1980 1990 2000 2010
23. So what to Do
• Change creates great opportunity
• Affordability matters now more than ever – Focus on Value
• Healthcare purchase decisions now driven by value
• Better care or physician profit is simply not enough
• Fee for service model is coming to a close
• Hospital managers have more say than physician employees
• Hospital value analysis committees rule the day
• Make sure you develop cost effectively – Focus on Capital Efficiency
• Healthcare venture has veered off course
• Funds grew large
• Led to complex investments with greater capital and risk
• Though exciting ideas, time & money required high exit valuations
• With lower valuations, purchase prices are generally l
l l ti h i ll lower
• Capital efficiency provides optionality
P. 23