How does the internal medical device development process work at large medtechs?
Channel: DeviceTalks
Date: 19/03/2024

In the latest episode of MedtechWOMEN Talks, Rebecca Whitney, SVP, Global Spine President, ZimVie dives deep into what it takes to bring innovative medical solutions to market in a large medtech OEM, weighing the benefits of internal product development against strategic external partnerships.
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The episode shines a light on the diligent process behind medical device product development, taking into consideration global market nuances, regulatory challenges, and the balance between in-house innovations and external collaborations. Whitney underscores the value of rigorous review stages, which sometimes require difficult decisions like ceasing investment in long-term, costly projects.

Key Takeaways:
- Tough decisions, like halting a project, are necessary for the betterment of patient care and resource allocation.
- Product development incorporates feedback from patients, surgeons, and salesforces to ensure that solutions are practical and market-appropriate.
- Strategic external partnerships can optimize development by leveraging outside expertise, allowing large medtechs like ZimVie to focus on their core strengths.

Thank you to our season one sponsors Aptyx, Catalyze Healthcare, Confluent Medical Technologies, and Cretex Medical!

https://aptyx.com/ 
https://catalyzehealthcare.com/ 
https://confluentmedical.com/
https://www.cretexmedical.com 

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00:00 Introduction
04:44 How to set the strategic vision and drive execution
05:39 Collaboration and feedback loop between different stakeholders
06:41 Gathering real-world feedback from customers
07:29 The go/no-go decision throughout the product development cycle
09:49 Focus on motion preserving solutions in the spine space
10:32 Strategic direction and phase gate reviews in product development
11:55 Balancing clinical evidence and feedback loop in deciding whether to continue or kill an idea
13:52 Tailoring product development for global markets based on regulations and customer needs
15:50 How to decide between in-house development and external partnerships