Mass. medical device sector doubled in last 20 years
PHOTO/COURTESY
Medical device companies in the state such as Hologic, which produces medical devices such as this 3D mammography machine, have more than doubled in the last 20 years.
The number of medical device companies in Massachusetts has more than doubled over the past 20 years, industry officials announced at an annual conference Wednesday attended by Gov. Charlie Baker.
According to MassMEDIC President and CEO Tom Sommer, Massachusetts-headquartered initial public offerings in the last five years raised an average of more than $51 million, above the US average of $46 million. The numbers were gathered by Evaluate MedTech.
“In 2015, Massachusetts venture financing was at the highest level since 2012 however a significant trend is clear—there are fewer rounds, but bigger rounds,” Sommer said in a statement. “The future of the medical device industry is strong and local companies are creating innovative solutions to the most complex medical problems.”
Deborah DiSanzo, general manager of IBM Watson Health, discussed the future of big data for medical devices. "Data is a natural output from medical devices ranging from imaging systems and monitoring platforms to new medical IoT [Internet of Things] technologies like sensor-infused wireless beds and scales," she said. "Cognitive computing systems like Watson provide an incredible opportunity to connect medical device data to other types of data, such as data from clinical studies and wearable technologies, to surface insights that help medical professionals improve and save lives around the world.”
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