Oslo Medtech Magazine 2012

The diamonds of the strong growth Norwegian medtech sector are entering the US health care market. Turn page and read more!

MAGAZINE CHECK OUT THE NEW NORWEGIAN TEST FACILITY BUILDING A CYBER HOSPITAL

The Medtech Gateway to Europe

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OSLO BUSINESS MEMO

Do you want to do business in Europe?

Welcome to Medtech Growth House, Oslo, Norway.

A HOUSE FOR GROWTH

PICTURE Above: The Oslo Medtech Growth House in idyllic Gaustad River Valley.

www.oslomedtech.no

SHARING: In the Medtech Growth House there are so far 10 Norwegian companies exploiting synergies, sharing services and working efficiently. The concept is developed by Oslo Medtech in cooperation with Oslo Innovation Center, and provides small startups with professional and service oriented environment and expertise.

Medtech Growth House encourages new cooperation and innovation projects, by stimulating the companies in the growth house are to help each other out, working together on common issues and share resources and network and cooperate with R&D.

Oslo Medtech Services: * Facilitate cooperation between research, health sector and industry * Stimulate and facilitate market driven innovation processes and development projects * Facilitate clinical trials and testing * Help the companies professionalize and develop internationally oriented business plans and strategies * Enhance the knowledge of International markets and help companies to reach the global market * Attract development and investment capital Interested to learn more about Oslo Medtech and Medtech Growth House?

Visit www.oslomedtech.no

BENEFITS: The medtech companies in the Growth House work effectively and above all – they have enjoyable days. The Medtech Growth House is located very close to Oslo University Hospital and the Intervention Centre, the University of Oslo and only 250 meters from DNV Nemko Presafe, the Medtech audit body in Norway. Both short

and long term contracts are offered. The companies experience great benefits from sitting closely to others working in the same field. On a regular basis there are a.o. seminars with high profiled industry leaders and lunch meetings where companies present their business and what is most important to them as they speak.

Medtech companies in the Growth House participate together with Oslo Medtech at the Annual MedTech Investing Conference in Minneapolis. At the conferences, they get the advantage of the network Oslo Medtech has built up in the United States. It is of great value to companies to meet potential partners. Conference participants have knowledge of recognition and access to the U.S. market, so they can improve and tailormake product development and documentation.

TESTING FACILITIES: Oslo Medtech is a rapidly growing national cluster, supporting and nourishing the business development of superior medical research, stimulating the development of a competitive Norwegian Medtech and eHealth industry.

Oslo Medtech offers a gateway to Europe for international startups by offering facilities for testing, verifications and clinical trials of Medtech and eHealth products, solutions and methods. Housing facilities are offered to international and Norwegian medtech companies in the Medtech Growth House, located in Oslo Innovation Center.

EDITOR'S LETTER

MAGAZINE

Published by Oslo Medtech www.oslomedtech.no *

Chairman: Carl Christian Gilhuus-Moe ccgmoe@neomed.net *

Editor-in-chief: Kathrine Myhre CEO Oslo Medtech +47 930 69 634 kathrine.myhre@ oslomedtech.no *

Cecilie Nordbø Marketing Communications Manager +47 930 31 593 cecilie.nordbo@ oslomedtech.no *

Tone Yrvum Innovation Project Manager + 47 46 44 00 45 tone.yrvum@ oslomedtech.no * Oslo Medtech GaustadallĂŠen 21 0349 Oslo Norway mail@oslomedtech.no A MAGAZINE PRODUCED BY

COVER PHOTO: Gorm K. Gaare

Building a medtech bridge Oslo Medtech together with US partners have for the last two years developed a medtech bridge between Minneapolis/USA and Oslo/Norway/Europe. Minneapolis represent the No. 1 medtech hub in the world, and is a solid foothold for Norwegian companies entering the US market.

The idea behind this bridge is to make it easier for US companies to develop and introduce new products and solutions to the European health care market, as well as for Norwegian companies entering the US health care market.

Since the startup in 2009, Oslo Medtech has developed into a cluster of 115 exciting businesses, educational- and research institutions, investment firms and health institutions. Oslo Medtech is a catalyst in the process of developing the industry, both in terms of innovation, commercialization and internationalization. Cooperation and knowledge transfer within the areas of R&D, industry expertise, and technology are initiated internationally to solve the challenges within health care.

Oslo Medtech can now offer introduction to clinical test facilities that can do both animal and human studies. US companies are also welcome to rent office space in the new Medtech Growth House at the Oslo Innovation Centre.

Kathrine Myhre

kathrine.myhre@oslomedtech.no

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Professor Dr. Med. Erik Fosse:The Intervention Centre at Oslo University Hospital helps developing and verifying cutting edge medical technologies.

THE NORWEGIAN MEDTECH GATEWAY

PICTURE Below this page and right page: Professor Dr. Med. Erik Fosse

www.oslomedtech.no

THE NEW GATEWAY: For many multinational medtech companies, Europe has for long been a preferred launch pad for new products. Attractive European legislation allows for faster and simpler procedures for approval of medical devices saving the companies huge cost.

Now, Professor Dr. Med. Erik Fosse at Oslo University Hospital is ready to open the doors and welcome American medtech companies to his extraordinary test facility at the Oslo University HospitalOslo.

“The Intervention Centre was established already in 1996, mainly due to capacity issues our service offerings have not been actively marketed before now”,

Dr. Fosse says. The 60-years old Norwegian surgeon is highly dedicated to his work whether it is to build top modern test facilities for the medtech industry or saving the lives of civil war victims. “Although we have not promoted the Intervention Centre to any extent, we have long experience as development- and test facility for medical devices from a number of manufacturers ranging from small Norwegian start-ups to international companies like GE, Phillips and Siemens” Dr. Fosse explains.

UNSURPASSED R&D QUALITY: According to Dr. Fosse; “the Intervention Centre was established to create a link between clinical practice, applied-, and basic research in the fields pertaining to minimally invasive and image guided therapy. And because it was organized as an independent center within the hospital from the start, it has been possible to conduct cross-functional research in a unique way”. The results achieved by the center are astonishing.

“Since the establishment, the Center has published more than 400 scientific articles andmore than 25 Ph.D and 50 M.Sc candidates have

earned their degrees through research at the Intervention Centre”, Dr. Fosse continues.

Dr. Fosse is also immensely proud of his staff. “The intervention Centre has a cross-disciplinary staff of 45 employees including doctors, nurses, radiographers, physicists and engineers.. In addition, a large number of medical staff from most departments in the hospital works at a less regular basis at the Centre”, he says. There is also a highly international culture at the Center. “Our employees come from 15 different countries and bring leading medical and technological expertise from all around the world”, Dr. Fosse explains.

PEOPLE & PIGS IN A UNIQUE FACILITY: The Intervention Center offers advanced surgical facilities approved both for human and animal studies. Through collaboration with the Veterinary College located in close vicinity, the animals can be transported and observed in the college’s advanced postoperative department. Dr Fosse points to the Intervention Center’s extensive experience. “Since 1996, we have conducted roughly 10.000 human and 1.000 animal procedures at the center”, he says.

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GORM K. GAARE

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Another unique feature of the intervention center is the architectural structure. In three suites, advanced imaging equipment is integrated in an operation room environment. “In 2008 all advanced imaging equipment was renewed, Dr. Fosse explains. The combined surgical and radiological suite is equipped with the Siemens Zeego system, based on robotic technology and containing new advances in imaging and functionality. “Our MRI suite was completely rebuilt into a dual room suite where a 3T MRI-device was installed in one room beside a state of the art OR”, Dr. Fosse says. “The two rooms are separated by a sliding door, allowing surgery with standard equipment and intermittent MRI imaging”.

oping and testing their products in Oslo.

In fact, Erik Fosse finds Oslo Medtech such a valuable partner that he joined the Board of Directors where he act as the vice chairman.

“There is an increasing call for more information than clinical outcome when new methods are introduced in clinical practice. Today information of patient experience, as well as total costs and cost utility, is required for determining the consequences of the new method.

Through close collaboration with the clinical departments the Intervention Centre is able to providing such information”, concludes Dr. Erik Fosse.

SPEEDING UP WITH OSLO MEDTECH: Dr. Fosse also acknowledges the role of the Oslo Medtech industry cluster. “The intervention Center has had close collaboration with Oslo Medtech since it was founded in 2009. The help from Oslo Medtech has been an The Oslo Medtech test facility: important factor for the Inven- High capacity: >1 00 surgeries (humans or antion Centers’ rapid expansion“ imals) and 1 200 imaging/surgical procedures Dr. Fosse admits. Oslo Medtech annually is an extensive cluster that cur- Prototype testing and simulation experiments rently counts 115 members. The - Non-GLP preclinical studies - Clinical studies cluster offers plenty of interest- Office space for short-term rentals ing collaboration opportunities - Hotel facilities onsite as well access to important serExpersise (service) in CE-marking vices such as CRO, industrial designers and regulatory exPlease contact Kathrine Myhre, CEO of Oslo pertise. Oslo Medtech serves as a Medtech for more information: one-stop-shop for medtech kathrine.myhre@oslomedtech.com companies who consider devel+ 47 930 69 634

www.oslomedtech.no

OSLO UNIVERSITY HOSPITAL: The Intervention Centre is a department in the Oslo Univerity hospital. The hospital is the result of a merge of the four public hospitals in Oslo: Rikshospitalet, Ullevål hospital, Radiumhospitalet and Aker hospital in 2010. With 20 000 employees and an annual budget of approximately 3.5 billion US dollars, the hospitals is one of the largest in northern Europe. It is a leading hospital in cancer treatment,

transplant surgery, pediatric medicine and surgery, neuro and cardiac surgery and medicine.

Oslo University hospital is involved in development and clinical trials of pharmachological products and medical technology, and has been the core arena for the establishment of two important industrial clusters: Oslo Cancer cluster and Oslo Medtech cluster.

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MedtechWatch

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SIMULATION, GAME & HEALTH

Oslo Medtech has launched a new focus area by forming a new game, simulation and health group with the objective of stimulate innovation and development of new products, services and solutions that meets an unmet ‘medical’ need.

The purpose is to stimulate both the companies and the healthcare sector to take in use game, simulation and robotics technology in the development of new products, services and solutions for the health care sector, says Kathrine Myhre, CEO of Oslo Medtech.

Examples of areas of use can be cognitive training, physical training & activity, social activity – or Simulation and training in the acute situation, ‘hospital world’ and for Operating Theatres.

Egil Utheim, founder and CEO of Mektron AS, will lead the gaming group and act as a coordinator.

- There are not any natural meeting places where game designers meets health professionals, somebody has to make it happen. Oslo Medtech is the perfect matchmaker and arena for this, says Utheim.

Read more: www.oslomedtech.no

www.oslomedtech.no

NEW EUROPEAN R&D FUNDING

Oslo Medtech is focusing on how the Medtech sector can use R&D as a driving force in development and commercialization process. Research shows that it is those companies that have the best absorptive capacity and is clever in taking in use R&D and new knowledge, which also are successful in the long run.

In July, EU will announce the last R&D funding package within the Health program under the Seventh Framework Program for Research.

As of today, approximately 4000 Norwegian researchers participate in 1060 different EU funded research projects.

- R&D in the EU programs can open the doors to international markets, and the networking part of it is very important and valuable. It enables the companies to gain expertise on an international level, and to test them inter-

nationally, says special advisor Tom Skyrud in The Research Council of Norway.

Read more: www.oslomedtech.no

LISENCING OF CANCER BIOMARKERS

Oxford Gene Technology (OGT), provider of innovative clinical genetics and diagnostic solutions to advance molecular medicine, has entered into an exclusive licensing agreement with Oslo Medtech-member Inven2, the technology transfer office at Oslo University Hospital (OUS) and University of Oslo (UiO), for 12 highly promising colorectal cancer tissue biomarkers.

The exclusive license allows OGT to commercialise any resulting test developed using these biomarkers and to sublicense the markers to other parties. The DNA methylation biomarkers were developed in the laboratory of Professor Ragnhild A. Lothe, in the department of Cancer Prevention, the Norwegian Radium Hospital, part of the Oslo University Hospital.

OGT has validated the results obtained in Professor Lothe's laboratory showing sensitivity of 93% and specificity of 90% when using tissue biopsies. Further work investigating the efficacy of these biomarkers in blood and faecal samples is ongoing.

Read more: www.oslomedtech.no

BUILDING A CYBERHOSPITAL

The use of game technology in the health sector is rapidly growing. An increasing number of health institutions see the benefits of exploring game technology as a way to increase efficiency, provide better services, train staff and reduce costs.

About a year ago at Oslo Medtechs meeting on Health and Gamification, the Østfold Hospital Trust CEO Just Ebbesen challenged his organization, the Norwegian ICT sector and in particular the Norwegian game sector to come up with innovative solutions to create a new digital arena based on game technology, designed to enable the hospital organization to be well prepared and ready to run the new five billion NOK hospital as efficient as possible.

The lessons learned from another big hospital development, Akerhus University Hospital Trust (Ahus) in Lørenskog localized outside Oslo, were the main driving forces behind Just Ebbesens innovative thinking. Ahus ex-

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HELSE SØR-ØST COWI ARKITEKTGRUPPEN NYTT ØSTFOLDSYKEHUS

Østfold Hospital Trust will be the first hospital in Europe to use game technology to model and simulate the new hospital buildings and to train hospital staff in the various work processes and scenarios.

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perienced serious and expensive downtime problems which lasted several months after the new hospital first opened in 2008, and Østfold Hospital Trust will need to avoid doing the same mistakes.

- There are 300 000 potential users of the new hospital and our Game technology has the potential to increase operational efficiency. main goal is to provide excellent services to our patients. The transition to a new hospital is very challenging, and one of the most important tasks is to make critical situation in the emergency room where a group of sure our 5000 employees are able to perform at a 100 perplayers can prepare themselves to receive a seriously damcent level from day one. We believe that the costs of develaged patient, and practice how to cooperate in the best oping the digital learning platform will be significantly possible way to treat the patient. lower than the potential costs of downtime if the organizRead more: www.oslomedtech.no ation is not properly trained to run the new hospital.

- If this new digital gaming plattform can be put to use in other existing hospitals as well, the project profitability will be even higher. We believe there is a real need for this service, that the potential customers are willing to pay for it, and that this can be developed in to an important and growing market, says Project Manager for the Østfold Hospital innovation project “Gametechnology for Organizational Learning” Egil Utheim.

Most hospitals have their own training rooms and elearning facilities. However, learning based on simulation and game technology is innovative and new and more research will have to be done to learn more about its effects Oliver Trepte in Swedish based engineering consultancy and efficiency in learning situations. One of the most imcompany Hotswap describes the serious safety issues inportant aspects to succeed is to create games that are involved when developing software to medical devices, and teresting, motivating and engaging. Game research know the potential pitfalls for developers. how to facilitate this; the game designer has to create pos– You`ve got to tread carefully not to kill your budget, or itive emotions, relations, motivation and goal-oriented your patients, says Oliver Trepte achievements and learning outcomes (“serious gaming”).

Modern medical devices usually include software, and 20 year olds today have spent 10.000 hours playing games, the software often has impact on device safety. And any not by force but by free will. There is a reason for that, says unforeseen malfunctions in the software potentially can Utheim. have dramatic consequences.

The use of game technology in planning, training and One classic example is the Therac-25 radiation therapy practicing has the potential to increase the operational efmachine, produces by Atomic Agency of Canada Ltd. ficiency in several ways: by directly redusing damages to Between 1985 and 1987 it caused a series of accidents serithe patients and by introducing more cost efficient soluously injured or killed six patients, in which patients were tions to deliver health services. given massive overdoses of radiation. These accidents, For example, game technology enables hospital staff to caused by a software bug and system architecture safety learn where to find the various functions in the new hosdeficiency, have since become case studies in health inpital, all the different tools, by moving around in the digital formatics and software engineering. version of the hospital like avatars. All sorts of different Read more: www.oslomedtech.no scenarios can be played out and practiced, for example a

BE CAREFUL WITH SOFTWARE!

www.oslomedtech.no

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The last several years have been extremely good for Norwegian companies striving to enter the U.S. market. Norway has emerged as a model of success in transatlantic cooperation with the U.S., writes Van Hipp in this article.

NORWEGIAN SUCCESS IN THE U.S.

www.oslomedtech.no

Cooperation between the two nations in the areas of niche technologies is literally now in the billions ofdollars. Further, what is most impressive is the fact that the majority ofthese successful Norwegian companies have been small and medium sized business enterprises.

niche technologies lacking in America.

Norwegian companies who have been successful in recent years have capitalized on this technological advantage.

Secondly, Norwegian companies have been much quicker than other European companies in adapting and conforming to the American business model. NorweNorway’s success stems from several gians feel at home in the U.S. The fact factors. First, Norway is well-known by that many – if not most – Norwegian the U.S. government and American com- CEOs, have a cousin in North Dakota or mercial entities for its core competency Minnesota certainly makes a big differin energy/environmental, medical, deence! Seriously, though, Norwegian fense and agriculture/aquaculture techbusiness executives understand the old nologies. Norway’s science and adage, “When in Rome, do as the Roengineering in these sectors is known to mans do.” In short, the Norwegian comU.S. authorities. Much of it is the result of panies that have been successful in the Norway’s early use of simulation based U.S. market have been those who incormodeling in developing technologies, long before it became a standard for the U.S. government or U.S. industry. I will never forget years ago when one senior technology official in the Office of the Secretary of Defense identified Norway as one of only four countries in the world as having certain

porate an “American Business Development Plan” in their strategy.

Teaming with the right American partner makes a big difference for a foreign company in succeeding in the American market place. Over the years, I have observed that those Norwegian companies who have been the most successful in the U.S. understand that “biggest is not always best” when it comes to a teaming partner in America.

In fact, Norwegian companies that have been the most successful in the U.S. are those who have teamed with a smaller to medium-sized U.S. business. In such cases, the teaming relationship has been a “win-win” for both companies. For example, most European medical companies would not think of teaming with the University of North Dakota Medical School in Grand Forks, N.D., to pursue medical funding with the U.S. government or the medical industry. However, for many Norwegian medical companies, such a partner like the UND Medical School may be just the

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PICTURES Left page: Iacob Mathiesen, Otivio, Van Hipp, ADI, Kathrine Myhre, Oslo Medtech.

Right: Knut Fangberget ADI, Van Hipp, ADI

OSLO BUSINESS MEMO

Van Hipp is Chairman of American Defense International, Inc. (ADI), a Washington, D.C.-based consulting firm specializing in government affairs, business development and public relations.

Over the years, ADI has been instrumental in helping Norwegian companies secure over $2 billion in funding in the United States.

Mr. Hipp is also the former Deputy Assistant Secretary of the U.S. Army and currently serves on the Board of Directors of the Norwegian American Foundation.

www.oslomedtech.no

derstood this and actually worked with right kind of partner they need to sucwith Americans. American Government the U.S. Congress to develop the “Friends and business officials know they are getceed in the U.S. Plus, the fact that the UND Medical School has more Norwegian of Norway Caucus” in the US Congress to ting a good deal as Norwegians almost foster better business relations between Americans as part of both the student always “undersell” what they have, in our two nations. Much of the credit for body and faculty than just about any typical Nordic fashion. As one former medical school in America, doesn’t hurt. this goes to former Norwegian Ambassenior U.S. government scientist once sador to the United States, Tom Vraalsen. told me, “They [the Norwegians] could Further, the UND Medical School is ranked as one of the best medical schools Ambassador Vraalsen’s vision is now a have a cure for cancer and AIDS and reality. Today, the Friends of Norway in America focusing on rural health, would bury it on the back-shelf, downCaucus is comprised of approximately 55 playing its significance.” Needless to say, which is where more and more health members of the U.S. House and Senate. care dollars are being allocated today in this U.S. government scientist was a huge the U.S. This makes sense to a Norwegian Over the last 10 years, the Friends of proponent of the United States doing Norway Caucus has served as a great medical CEO who understands the need more and more with Norway. vehicle for both the Norwegian Governto “follow the money!”

In closing, it’s great to see Norwegian ment and Norwegian commercial inSuccessful Norwegian CEOs have unniche technologies succeed in the United terests to present new and exciting derstood in recent years the unique role States to fill critical unmet needs here in technologies to the United States. the United States Congress plays in the America. Those Norwegian companies Lastly, good old fashioned Norwegian American business process. The foundawho have been successful with the U.S. humility and sincerity goes a long way tion for this uniqueness actually rests in government have consistently seen that our Constitution. Historically, success transferred over to the the U.S. Congress has been U.S. commercial sector and with much more involved than increased business back home in The Friends of Norway Caucus has European Parliaments in both The U.S.-Norway busiserved as a great vehicle for both the Norway. funding and working with ness model in recent years has Norwegian Government and Norgovernment agencies and deseen much success.

It is a sucwegian commercial interests to partments in developing recessful working model for present new and exciting technoloquirements for new transatlantic cooperation. gies to the United States. technologies. Norway has un-

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Product: VeriQ C Company: Medistim ASA Contact: http://www.medistim.com

VeriQ C is a new generation of intraoperative systems for quality assessment used during coronary artery bypass grafting (CABG). It combines state-of-art transit time blood flow measurements (TTFM) with a new ultrasound imaging modality. By using ultrasound imaging, it will become easier for the surgeon to plan, optimize and assess quality of the surgical procedure.

www.oslomedtech.no

http://medistim.com

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Product: Virtual reality simulation Company: SimSurgery AS Contact: arild@simsurgery.com

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Product: Sonitor RTLS S-Tag Company: Sonitor Technologies AS Contact: roby.peeters@sonitor.com

SimSurgery develops and provides simulators for training of surgical skills and procedures with a combination of advanced virtual reality simulation technology and comprehensive training and analysis tools, based on a flexible and intuitive platform for simulators in laparoscopy. The simulators are developed by SimSurgery and former Lapskill Medical, merged with SimSurgery.

The accurate and reliable positioning of Sonitor’s ultrasound based Real Time Locating System (RTLS) improves hospital workflows, patient safety and satisfaction. The S-Tag was designed with the healthcare worker in mind and features two buttons and a multi-color LED that enable the wearer to communicate requests or status remotely.

http://simsurgery.com

http://www.sonitor.com

HI-TECH MEDTECH Cutting edge Norwegian medical devices

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Product: Wireless cardiac sensor Company: WPR Medical as Contact: post@wprmedical.com

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Product: Cath-Tract™ Company: UroLogical AS Contact: jar@urological.no

Cath-Tract™ is a safe vesical access sheath that simplifies indwelling catheter care. It is a patented solution with valuable advantages. The Cath-Tract™ increases patient comfort, simplifies the procedure for care and reduces risk of infection. The patent rights and idea are owned

by Urological AS, founded in 2006 by a Norwegian urologist, surgeon and inventor.

http://curvus.com

http://urological.no

www.oslomedtech.no

Curvus wireless technology analyses ECG signals in real-time and detects irregular cardiac events, which instantly are transmitted to the physician.

Recordings are stored for later download and offline analysis facilitating a broader examination procedure. The Curvus System consists of a wireless sensor, a receiver and a data suite together with an underlying infrastructure.

OSLO BUSINESS MEMO

Q&A

LAST PAGE

Kermit Nash: Norway is ideally situated as an entry-point to the European market.

We asked Kermit Nash, an experienced and knowledgeable coming from the heart ofthe medtech industry about the Norwegian market and its medical device companies.

What is your advice for Norwegian companies thinking about entering the US market?

www.oslomedtech.no

- It is important to determine early on if there is a market for your product. Asking and answering important questions about the market early is critical when considering new markets. For example, when considering the technology, ‘does it meet an unmet need’; ‘is scalable’, ‘is there reimbursement’, ‘what is the regulatory requirements for clearance or approval’ and so on. Norwegian companies can partner with Oslo Medtech, the ideal resource for identifying the best sources to answer these questions. Having this type of resource is particularly important considering some challenges that exist in entering the US healthcare market.

Meet Kermit J. Nash, attorney at law at Gray Plant Mooty in medtech hub of Minneapolis. He has been working with Norwegian medtech companies on a regular basis for 1 2 years now, and is a key player in USA for Oslo Medtech.

In what ways can Norwegian companies partner in the U.S.?

- If you are considering an American partner, timing is essential. Large medical device companies are typically looking for technology that is scalable, has strong IPR and fits strategically with their existing distribution.

They want to see technology that fits in their existing markets or has novelty to develop new markets. If he value can be demonstrated during the early stages of development, a large device company has a number of ways that they may partner with emerging techno-

logies. Another important aspect is how long it will take to develop the technology, either due to the innovation cycle or more likely now, the amount of time it takes to obtain FDA clearance or approval. If the pathway to the market becomes clear, large companies will decide whether it can be efficiently distributed via existing channels. In short; novel technologies that meet an unmet/undermet need and which fits with the strategy is attractive.

- A partnership with an American company can be a great way to co-develop a technology and it is more likely to occur than a non-US company entering the U.S. market with a “stand-alone” technology. The trend is that larger device companies acquire companies or technologies to develop it further in the USA.

How would you see the opportunities for American companies considering partnering with Norwegian medtech companies?

Norway has world-class doctors, universities and product development facilities. Norwegian companies start to think about the European market early on, because they need to think about expanding outside their own market. As a result, Norway is ideally situated as an entry-point to the European market.

Products that obtain regulatory clearance in Norway give you direct access to the rest of Europe. More companies will be looking for strategic, entry points into the European market. Oslo Medtech has provided a comfortable and competitive “port” for U.S. companies that intend on accelerating their European strategy.