Category: Community
THE ACTUATOR’S EIGHT PROMISING MEDTECH COMPANIES
[vc_row][vc_column][vc_column_text]The Actuator, Australia’s venture-backed national accelerator for medical technologies today announced their second cohort of promising medtech seed ventures.
Supported by Australian Industry Growth Centre, MTPConnect and a plethora of ecosystem partners, The Actuator’s second cohort of companies will be put through their paces in a rigorous industry-led 15-month technology and entrepreneurial skill development accelerator program. Along with training, mentoring and connectivity to local and global networks, the program will provide up to $200,000 seed investment, and up to $2.5 million further funding through partners, Artesian.
After an intense selection and due diligence process, eight high-impact medtech startups were selected to participate in the 2018 Round 2 Actuator Accelerator program.
The second round of applications was extremely competitive and the quality of applications was exceptionally high, with 70 early-stage startups seeking to accelerate the commercialisation of their medtech innovations.
Capitalising on the Nation’s existing research, service and product development strengths, The Actuator will bring in the very best of Australia’s medtech and innovation system to prepare teams for clinical trials, advanced manufacturing and at-scale technology development.
The 8 successful participants are:
- TerraBlue XT – Medical grade, non-invasive, fully automated wearable system backed by an IoT/AI platform to predict, detect and manage epilepsy, scalable to other chronic neurological disorders.
- Curatek – A wireless disposable patch that continuously monitors respiratory rate to aid early warning of patient deterioration
- Stelect – A single use, novel catheter design for accurate stent selection the first time, every time.
- Augmented Bionics – Non-surgical ‘wearable’ alternative to cochlear implants.
- Rehabswift – A restorative brain-computer interface (BCI) to kick-start stroke recovery.
- Flomatrix – A novel catheter design aimed to reduce the current high PIVC failure rates
- Hexagon Innovation – Hexagon Innovation offers wearable technology that relieves worry about elderly people by detecting unusual events, falls or distress wherever they occur.
- Lenexa Medical – pressure injury (PI) prevention and detection in the operating theatre empowering clinicians to deliver targeted wound care interventions.
“Our mission is to support our home-grown talent within their local innovation ecosystems, and build incredible successes. We are eager to support such innovative and dynamic medtech startups, emerge out of Australia,” says Dr Buzz Palmer, CEO of The Actuator.
“The Actuator is an exciting initiative set to expedite technology transfer and research translation. MTPConnect congratulates the successful participants of the second round and we look forward to tracking the impact of these medical technologies.
“MTPConnect funded the Actuator in the 2016 round of our Project Fund Program, which was developed to bring together all players in the sector, to drive collaboration and commercialisation; overcoming identified constraints and barriers in the sector,” says Dr Daniel Grant CEO of MTPConnect.
The Victorian Government helped The Actuator to establish its headquarters in Melbourne and Minister for Innovation and the Digital Economy Philip Dalidakis said its programs were providing invaluable support to startups in a key sector.
“The Actuator is helping nurture innovative medtech startups as they take the next step in turning their great ideas and research into commercial success stories,” Mr Dalidakis said.[/vc_column_text][/vc_column][/vc_row]
BRIDGETECH PROGRAM ANNOUNCES PARTNERS AND 2018 COHORT
[vc_row][vc_column][vc_column_text]Applications for the BridgeTech Program have been running over the past few months, and have so far received over 120 expressions of interest from researchers, business development professionals, entrepreneurs, medical professionals and more.
The BridgeTech Program is convened and administered by QUT and involves a consortium of partners who are delivering a program to train researchers and entrepreneurs on the scientific, legal, financial, clinical, regulatory and reimbursement disciplines related to taking medical technology to market.
This highly selective program is now enrolling 77 participants from around Australia, including:
- 14 participants from New South Wales
- 25 participants from Queensland
- 8 participants from South Australia
- 23 participants from Victoria
- 7 participants from Western Australia
Further to the announcement of the selection of the 2018 participants, The BridgeTech Program also announced the consortium partners who will be contributing to the design and networking opportunities of the program.
Comprising medtech companies, universities and industry associations, consortium now has 20 partners including:
| Agilent Technologies | IDE Group | Stryker | |
| AusBiotech | Life Sciences Queensland | The Actuator | |
| Cochlear | Macquarie University | University of Melbourne | |
| Deakin University | Magnetica | University of New South Wales | |
| Flinders University | MTAA | University of Newcastle | |
| Gadens | Queensland University of Technology | University of Western Australia | |
| Hydrix | |||
| Siemens Healthcare | |||
Speaking on the importance of the partners, Professor Lyn Griffiths, Executive Director of QUT’s Institute of Health and Biomedical Innovation (IHBI) and Director of The BridgeTech Program, said that “through its consortium of partners, the BridgeTech Program is unique in its ability to incorporate industry expertise, create key collaboration opportunities and draw on the breadth of knowledge needed to design an effective course.”
The BridgeTech Program is also supported by MTPConnect – the Medical Technologies and Pharmaceuticals Industry Growth Centre – who are providing industry matched funding to run the program.
At the first event last week, held in Brisbane, at the Institute of Health and Biomedical Innovation QUT, The BridgeTech Program hosted Lusia Guthrie as the first speaker for the 2018 cohort.
In addressing BridgeTech participants, Mrs Guthrie spoke of her experience and interest in the development and commercialisation of breakthrough healthcare products that embrace automation, robotics and machine learning.
Having over 35 years of experience in various sectors of healthcare, Mrs Guthrie shares her breadth of knowledge on bringing innovative products to global markets, embracing the entire process from concept to product launch, including company formation and capital raising.
This seminar is just the first of a series of talks that will be held in different cities around Australia for the 2018 cohort. Following this, BridgeTech participants will attend a 3-day face-to-face training session to be held at Luna Park in Sydney in November where they will consolidate their learning and create key collaborative networks in order to facilitate their commercialisation pathway.
“Developing this important educational initiative in partnership with industry means that participants will be provided with relevant and specific commercialisation training, advice and networks to better assist the commercialisation of medical technology and medical devices in Australia,” Professor Griffiths said.
The BridgeTech Program is the sister program of The Bridge Program, which is now in its second successful year and focuses on the skills needed for the commercialisation of pharmaceuticals rather than medical devices.[/vc_column_text][/vc_column][/vc_row]
AUSTRALIAN HEALTHCARE PROFESSIONALS LEADING THE WAY IN ETHICAL COLLABORATION
[vc_row][vc_column][vc_column_text]MTAA was one of five organisations that led the development of the Australian Consensus Framework, which aims to increase ethical behaviour characterised by values and principles such as honesty, integrity, transparency, accountability and oversight.
It has been developed with input and collaboration from 50 healthcare entities who are now signatories to the Australian Consensus Framework, including professional health bodies, industry organisations, hospital and health services associations, universities, regulators, patient and advocacy groups and other related organisations.
At today’s 2018 APEC Business Ethics Forum in Tokyo, Australia won the prestigious Lighthouse award for its work on the Australian Consensus Framework and generally the work to promote ethical behavior.
The Australian Consensus Framework does not replace existing Codes of Practice, with the values and principles constituting the Australian Consensus Framework aligning with the more comprehensive Medical Technology Industry Code of Practice that is administered by MTAA.
This industry-specific Code of Practice is mandatory for members of MTAA and incorporates detailed, best-practice requirements to promote high standards of ethical behaviour. The MTAA Code includes specific and detailed requirements for ethical behaviour in relation to advertising and promotion of products; interaction with healthcare professionals; mandatory training on the Code for company representatives who interact with healthcare providers; and interactions with consumers.
“As the fifth largest contributor to national growth and in employing over 1.5 million Australians, it is important that the healthcare sector exhibits and practises high levels of trust to the standards expected by the community. Open collaboration, dialogue and communication across all players in the health care sector is key. The Australian Consensus Framework for ethical collaboration provides a platform for this engagement.
“A key reform for the medical technology industry would be the implementation of a harmonised industry Code of Practice which all device manufacturers and suppliers are required to adhere to by law or regulation. The MTAA Code would be an appropriate basis for such a harmonised code,” said Ian Burgess, CEO of MTAA and a member of the Australian Consensus Framework Leadership Team.
Australian Federal Minister for Health, The Hon. Greg Hunt MP, praised the Australian health sector for developing the voluntary initiative.
“The new Australian Consensus Framework has come about from the hard work of a dedicated group of people in the health care industry who want to do things better. That work has been led by the Australian Orthopaedic Association, with representatives from the Medical Technology Association of Australia, Medicines Australia, Royal Australasian College of Surgeons and the Australian Healthcare & Hospitals Association, said Minister for Health, Greg Hunt MP.
Chair of the Australian Consensus Framework for Ethical Collaboration and CEO of the Australian Orthopaedic Association, Adrian Cosenza, said the Framework “has been designed in an environment where society’s trust in government, business and not-for-profit bodies globally, including in Australia, as measured by the respected Edelmen Trust Barometer, has been in steady decline in recent years. Unethical behaviour is one of the causes of this trust deficit.”
The launch of the Framework took place in Tokyo today (Friday 20 July) with addresses by the Federal Minister for Health the Hon. Greg Hunt MP and Australia’s Ambassador to Japan Richard Court as part of the 2018 APEC Business Ethics for SMEs Forum.[/vc_column_text][/vc_column][/vc_row]
AUSSIE INNOVATORS TO DRIVE BETTER HEALTH OUTCOMES
[vc_row][vc_column][vc_column_text]The four committees, made up of renowned Australians with extensive experience from sectors such as research, technology, innovation and healthcare, will support the Australian Advisory Board on Technology and Health Competitiveness.
In March 2018, we announced the establishment of the industry led Advisory Board that is partnering with the United States Council on Competitiveness (USCC).
Both groups are focusing on collaboration and promotion of Australian technology, innovation and healthcare to boost business opportunities and create better outcomes for patients.
The Advisory Board is co-chaired by Mr Charles Kiefel OAM, Distinguished Fellow of the Global Federation of Competiveness Councils, Dr Larry Marshall, CEO of CSIRO, and Dr Jane Wilson, Director of Sonic Healthcare Ltd.
The Advisory Board is establishing an Australia-US Chief Technology Officer Dialogue.
The Dialogue will connect Australian and US Technology leaders to discuss common challenges, opportunities, and promote business and research collaboration in areas including healthcare, advanced computing, finance and entrepreneurship.
The four committees will help shape the agenda and discussion of the Advisory Board with members contributing their time and expertise on a pro bono or honorary basis.
These efforts will create more opportunities for Australian firms and innovators to learn from leading innovators in the United States.[/vc_column_text][vc_separator][/vc_column][/vc_row][vc_row][vc_column][vc_column_text]
STRATEGIC COMMITTEES TO SUPPORT THE AUSTRALIAN ADVISORY BOARD ON TECHNOLOGY AND HEALTH COMPETITIVENESS.
Autonomy
- Professor Russell Boyce (Chair for Space Engineering at UNSW Canberra)
- Mr Ric Gros (METS Ignited, growth centre)
- Dr Nick Barnes (3D vision, Data61)
Healthcare
- Ms Sue MacLeman (Managing Director MTP Connect (MedTech and Pharma Growth Centre)
- Dr Rachel Swift (Principal Boston Consulting Group)
- Professor Karen Reynolds (Dean of Research, College of Science and Engineering, Flinders University and member of the Australian Medical Research Advisory Board)
- Mr Lucas Litewka (Director, USC Clinical Trials Centre)
Advanced computing
- Mr James Johnson (CEO, Geoscience Australia)
- Professor Andrew Dzurak (Director of the NSW node of the Australian National Fabrication Facility (ANFF) UNSW)
Financial systems, access to capital, and entrepreneurship
- Mr Sam Sicilia (Chief Investment Officer, HostPLUS)
- Dr Manny Pohl (Bond University)
[/vc_column_text][/vc_column][/vc_row]
MEDTECH INDUSTRY RESPONDS TO VOLUME DISCOUNT DEBATE
[vc_row][vc_column][vc_column_text]The segment focused on medical technology companies providing volume discounts to private hospitals when they choose to use the devices they make, such as pacemakers, for their patients. The 7.30 Report alleged, as a result of the volume discounts, that private hospitals were receiving between 5-50% off the value of the medical devices as either a repayment or in-kind.
To support the allegations, 7.30 Report spoke with a legal expert who said he believed the rebates provided to hospitals were, in his opinion, equivalent to “kickbacks”, and accused medtech innovators of being anti-competitive.
However, PulseLine understands the practice of rebates was considered by the Australian Competition and Consumer Commission (ACCC) in 2003, with the regulator being of the opinion that the conduct would not raise concerns under competition law.
The Medical Technology Association of Australia’s (MTAA) members abide by a Code of Practice which states that it “…ensures companies in the medtech industry conduct their arrangements with healthcare professionals in a transparent manner so decision-making on selection and use of products by doctors, or hospital purchasing departments, is based solely on the quality and suitability of the product, not on inducements (perceived or otherwise) paid to the doctor or any other decision-maker.”
While MTAA Code of Practice isn’t legislated, it has been used by the industry as a best practice guide for all medical technology companies to follow and has issued fines for breaches of the Code.
MTAA’s CEO, Ian Burgess, was interviewed by 7.30 Report, and said the industry opposed any action to constrain surgeon choice, whether it was being done by a private hospital or private health insurer.
“There should be one, and only one, consideration when deciding on which medical device to use and that is: which is in the best interest of the patient,” Mr Burgess said.
“MTAA rejects the characterisations made on the 7.30 Report of rebates being anti-competitive. The practice of providing rebates are in line with normal commercial arrangements that can apply across a number of markets in our economy”.
Mr Burgess confirmed MTAA does not have access to specific information about how suppliers and hospitals negotiate the supply of devices, and said he did not believe the association should be involved in individual discussions with medtech companies regarding their commercial arrangements.
The 7.30 Report story comes as public scrutiny continues over the rise in private health insurance premiums. In recent years the medtech industry has found itself the target of other special interest groups looking to shift the public’s focus away from their own practices as it relates to health insurance premium rises.
Just last year the medtech industry co-signed an Agreement with the Commonwealth Government that saw medtech innovators agree to cut their own prices by $1.1 billion, over four years, in order to have those cuts passed on as savings to Australians signed up for private health insurance.
PulseLine understands those cuts have already been credited with delivering the lowest premium increases for Australians in 17 years.[/vc_column_text][/vc_column][/vc_row]
DA VINCI ROBOTS ENTER HOSPITALS
Distributed by Healthcare Company Device Technologies, the purchase will be a huge win for Victoria’s hospital system, expanding the existing Epworth fleet of three third generation platforms to six fourth generation systems across four hospitals. This will be the second upgrade and expansion of Epworth’s da Vinci Surgery program since 2003, when they purchased the first da Vinci Standard system in Australia.
Robotic technology is becoming an increasingly common site in Epworth hospitals, ranging from surgical da Vinci robots in operating theatres to TUG transport robots reducing manual handling across the hospital.
The da Vinci Surgical systems are sophisticated technology platforms, designed to enhance minimally invasive operations. Their design allows surgeons, through 3D vision and wristed instrumentation with intuitive, sensitive motion controls, to reach difficult areas in the human body and carry out complex procedures through minor incisions.
Since 2003, the technology has grown in its application and is now utilised in Urological Surgery, Cardiothoracic Surgery, General Surgery, Gynaecological Surgery and ENT surgery. It was recently used by Dr Ben Dixon, who performed Australia’s first paediatric robotic surgery on six-year-old Freyja Christiansen earlier this year.
The introduction of six more fourth generation da Vinci systems into the Victorian healthcare system was made possible by donations to the Epworth Medical Foundation.
In addition to increasing access to robotic surgery for patients, they will also turn Victoria into a hub for clinical research and robotic training, which will enable more surgeons to learn how to use these robots and apply their skills beyond the operating theatre.
“We were the first to bring da Vinci to this country, we fell behind a little in recent times and now we want to be back at the forefront in terms of technology, access, research and patient outcomes” Epworth said of the sale announcement.
Both Epworth Group Chief Executive, Dr Lachlan Henderson and Device Technologies General Manager for Robotic Surgery, Heath Priestly, said the landmark purchase was an important step forward for Victorian healthcare.
“Our significant investment in da Vinci Surgical technology is consistent with Epworth’s ongoing commitment to deliver quality innovative healthcare to patients in Victoria,” Dr Henderson said.
“Its 15 years since the first patient was treated for Prostate cancer with a da Vinci system at Epworth Hospital in Richmond. All this time later, and it feels like we are just beginning,” added Mr Priestly.
“These 6 new da Vinci systems, all with 4th generation technology, will open up a world of possibilities for clinicians and their patients.”
MEDTRONIC’S OMAR ISHRAK | VALUE-BASED HEALTHCARE
MEDTECH | Creating Local Jobs for a Healthier Australia
IMPACT OF MEDTECH 2018
[vc_row][vc_column][vc_column_text]The event, which has almost become an annual fixture for the industry, saw the who’s-who in Australian medtech rubbing shoulders with policy-makers, staffers, senators and members.
The evening was kicked off by MTAA board chairman, Gavin Fox-Smith, who welcomed more than 100 attendees to the private dining room. Throughout the evening Fox-Smith invited a number of patients and surgeons to the stage to share their amazing stories of how medical technology changed, and in some instances, saved their lives.
One of those asked to speak was Dianne Sloan, whose husband, Brian, suffered a devastating ischaemic stroke in April of this year. Brian’s surgeon said the stroke would normally have either killed him or left him in a vegetative state. But thanks to the Trevo thrombectomy performed by the surgeon, Brian was able to make an excellent recovery, leaving hospital shortly after, and returning to a fulfilling life with his wife and grandchildren.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_single_image image=”2077″ img_size=”full”][vc_separator][/vc_column][/vc_row][vc_row][vc_column width=”1/2″][vc_single_image image=”2076″ img_size=”full”][/vc_column][vc_column width=”1/2″][vc_single_image image=”2078″ img_size=”full”][/vc_column][/vc_row][vc_row][vc_column][vc_separator][vc_column_text]Lining the walls of the parliamentary private dining room were the various MTAA member companies’ displays, which showed off the very latest advancements in medical technology. PulseLine spotted Stryker’s Maurice Ben-Mayor giving a hands-on demonstration Stryker’s assisted surgery tool aka ‘Mako’ to Labor’s Shadow Minister Jason Clare.
After a busy Parliamentary sitting day, Shadow Treasurer Chris Bowen dropped by, and was seen chatting with the MTAA’s Ian Burgess and former NSW Deputy Premier John Watkins. Bowen was later joined by Shadow Communications Minister Michelle Rowland, and newly sworn-in Senator and former NSW Premier Kristina Keneally.
A big hit with MPs and Senator’s was Alcon’s Ophthalmology Surgery Virtual Reality Technology. PulseLine snapped photos of the Member for Bennelong John Alexander and Member for Makin Tony Zappia being guided through the experience by Robyn Chu and her team, as the Member for North Sydney Trent Zimmerman watched on.
The event was topped off with addresses from both Minister for Health Greg Hunt, and Shadow Minister for Health Catherine King.
It’s safe to say that this is definitely an event to put in your calendar for next year.[/vc_column_text][/vc_column][/vc_row][vc_row][vc_column][vc_single_image image=”2083″ img_size=”large”][/vc_column][/vc_row][vc_row][vc_column][vc_separator][vc_single_image image=”2084″ img_size=”large”][vc_separator][/vc_column][/vc_row]
