MedDev SA Alliance
A new State Government initiative, MedDev SA Alliance, is aimed at boosting the presence and profitability of South Australian medical technology companies in both domestic and international markets.
Established in June 2015, the Alliance will help to further energise South Australia’s medical device resources. It will do so by collaborating with medical device manufacturers, the State Government, Federal Government and other key industry groups including TechInSA, HealthInSA and the Medical Device Partnering Program at Flinders University.
Led by CEO Richard Barrett who brings two decades’ experience in the manufacturing sector, as well as extensive experience in international market strategy and business development to the role, the Alliance will operate primarily with an advanced manufacturing agenda, focusing on long term economic development outcomes. Accordingly, this private/public partnership is supported by the Government of South Australia via the Department of State Development.
“The three key focuses of the Alliance (helping South Australian companies get access to new markets, accessing capital and negotiating policy and regulation areas) aim to advance key MedTech programmes through the connection of research, investment and advanced manufacturing capabilities,” said Mr Barrett, CEO, MedDev SA Alliance.
MedDev SA’s approach will be to assist with the commercialization and scale up of high potential opportunities by providing guidance in the following key areas:
– Technology research
– Public policy
– Industry regulation
– Training and Development
– Business planning and development
– Intellectual property
– Manufacturing capability
– Investment (private)
– Grants (Public)
Strengthening the Medical Device Sector in South Australia
South Australia is already recognised for its expertise and world-class manufacturing potential in the medical devices field. The Alliance aims to build on this competitive advantage to maximise growth opportunities and to further advance the significant economic multiplier effect accruing from the sector.
“Whilst Australia has a relatively small share of the international medical device market, there is an opportunity to leverage our unique capabilities in this area for greater export growth,” said Mr Barrett. “The key to an energised and growing sector is in collaboration to achieve critical mass, while working to further raise the international profile of the state’s capabilities.”
Supported by an SA Government investment of $750,000 over three years as part of the state’s cluster program, the MedDev SA Alliance currently includes leading manufacturers such as Ellex and Austofix. Industry engagement will be undertaken early in the process to identify other medical device companies with both the potential and aspirations for growth that can benefit from, as well as contribute to, collaborative leverage of capabilities.
An ageing population both in Australia and overseas has seen growing global demand for medical devices and technologies. The MedDev SA Alliance is a great vehicle for South Australian manufacturers to not only grow in existing markets but also find new markets to boost revenue and scale.
The benefits of the Alliance also extend further. Creating additional opportunities for South Australian medical device companies will in turn create more skilled labour opportunities within the state too.
The MedDev SA Alliance will be centrally located at Thebarton based at the Business Incubator.
For further information visit the MedDev SA website.