Focus on the positive?

Ian Boland offers some thoughts on the recent unveiling of the MedTech strategy and HSBC’s acquisition of Silicon Valley Bank (UK).

It’s that time of year again where we all gather in Birmingham for the premier event for medical device manufacturing in the UK and Ireland – so welcome everyone reading this to the Med-Tech Innovation Expo!

I could spend the entirety of this column focusing on how great the show is, but you probably already know that by now if you’re reading this in Birmingham – and if you’re not, hopefully The opening paragraphs and show coverage in this issue will provide a timely reminder for you to attend in Hall 2 at the NEC on June 7-8.

But the focus of this column is going to be on two things. Shortly after the first issue of the year went to press the UK government’s Medical Technology Strategy was released – a first of its kind which may demonstrate that our industry has been slightly overlooked by successive governments, but it is a welcome change. It is being highlighted as an area that could help turbocharge the economy in the UK.

The second is a welcome move by the UK government to facilitate the takeover of Silicon Valley Bank (SVB) UK by HSBC under post-financial crisis regulations of the late 2000s.

Given the number of ventures that were willing to support SVB, helping the emergence of promising medtech start-ups that might not have made it otherwise, it’s good to know that an organization that has made a difference in technology Has shown a willingness to support smaller companies, it has the potential. Future secure. However, I believe there are still question marks in this sector in terms of the approach taken towards start-ups and any risks associated with them.

Still, the remaining vehicle for growth of companies bringing new innovations to market is something that should be celebrated, and we’re sure we’ll be keeping a close eye on any changes that result from this.

Coming back to the medical technology strategy, I think if you’re reading this and expecting a solution at this stage, you’re going to be a little disappointed.

I recently had the privilege of attending an event organized by the Urology Trade Association in Westminster, where I had some discussions with the participants about strategy. They seemed to welcome it broadly, but I asked what the solution was.

It’s hard to disagree with the objectives, there really is a lot of content – apart from the one odd instance where it read as a political manifesto.

Maybe this was a way to get people on the same page, and maybe we’ll unearth a nugget or two during the conference sessions at the Med-Tech Innovation Expo. I’m especially looking forward to Heather Hobson from the Office for Life Sciences to address attendees on The Life Sciences Vision, which provides progress updates on key themes of the Vision as well as the Government’s priorities for the sector Is.

The strategy starts a conversation about at least some possible solutions to address at least four priority areas:

• Flexibility and Continuity of Supply
• Innovative and Dynamic Market
• enable infrastructure
• specific market focused

It looks vague at the moment, but let’s hope that what follows is of substance.

The Med-Tech Innovation Expo will take place on 7-8 June at the NEC, Birmingham. Visit www.med-techexpo.com to register for free.