For the last 5 years Medical Device companies have worried about the impact of the new Medical Device Regulations on their business, and what would happen May 26th, 2020, when the new law would be implemented within the EU. Then, when COVID hit, and implementation of the law was delayed with a year, companies got Read More …
Category: Market Selection
GB5D and SciMed Partners Announce Agreement to Collaborate
GB5D helps Companies Expand beyond Their Domestic Market The World Just Got a Little Bit Smaller SciMed Partners and GB5D have agreed to cooperate in order to better help foreign life sciences, medtech, and healthcare technology companies with US market entry. With several hundred years of combined biotech, medtech, life sciences, healthcare technology and international business Read More …
Skip Domestic. Commercialize in a Foreign Market first?
Over he last few months, several companies that had not commercialized their products in their domestic markets asked me about entering one or another foreign market. Normally, I tell them that’s probably not a good idea. The reasons behind my statement are straightforward. Entering a foreign market is more difficult than addressing your Read More …
Milken NTE101: Mentoring Businesses Successful Domestically but New to Export.
The Milken Institute’s California Center recently launched a program called New to Export 101. The Milken NTE101 program aims to help local manufacturers who have a domestic market but are new to export. I volunteer as a Mentor. Any local manufacturer with an established domestic market and New to Export can apply to the program, Read More …
Should US MedTech companies be concerned about the new EU Medical Device Regulations?
The EU market has always been attractive for US MedTech companies. Obtaining approval to sell into the EU market has in the past always been easier than getting approval to sell in the US. That may soon change in view of the new EU Medical Device Regulations. For a long time, US manufacturers preferred to Read More …
Assess and Protect against Product Liability Claims when Entering a Foreign Market
When you enter a Foreign Market you will probably face a Product Liability regime different than the one in your home country (Similar But Still Separate and Distinct). Chances are your company is not intimately familiar with the risks in the market you plan to enter. Our experience has shown that “the unknown” can often Read More …
Hurdles facing European MedTech companies wanting to enter the US Medical Device market.
Last week I visited the Medica show in Dusseldorf, Germany, the world’s biggest medical devices trade fair. 120,000 professional visitors from over 130 different countries met with more than 5,000 companies. I spend four days meeting with European MedTech companies that didn’t have a presence in the US market. I wanted to know why they Read More …
Invest in a Strategic International Business Development Plan. Consider Regulatory Restrictions
As your company contemplates expanding its market into foreign countries, sometimes regulatory restrictions play an important role. Think about a company selling supplements, or mechanical components for the aerospace industry. In such an environment, investing in a Strategic International Business Development Plan may mean the difference between certain failure and success. Regulatory Restrictions It may very well Read More …
Considering Global Growth? Get Expert Help
A Washington Post article written by UPS, Considering Global Growth? Try domestic expansion first, suggests that companies interested in growth dive deeper into domestic markets first. The article quotes Robert Eberhardt, assistant professor of management at Santa Clara University’s Leavey School of Business, who said “The research is fairly clear that, generally speaking, companies do Read More …
International Business Negotiations, Impact of National Culture
In a global economy, making deals, creating value and resolving conflict often requires International Business Negotiations. Chances are, several people within your organization have contact with international partners, suppliers or customers. They regularly conduct International Business Negotiations and should be aware of the impact of National Cultures. After the signing the contract, negotiations do not end. Instead negotiations continue, as the Read More …