Moving stateside: How to grow your business across the pond

Paul Benton, managing director, international, ABHI explains how the ABHI US Accelerator is supporting companies to grow their business across the pond.

The Association of British HealthTech Industries (ABHI) is a UK industry association for health technology (HealthTech). With 300 members, daily activities see the association support companies on a number of critical issues, such as regulation, market access and government policy. Our industry is dominated by Small and Medium Sized Enterprises (SMEs), who have strong relationships with the UK’s National Health Service (NHS), the world’s largest single payer health system. Partnered to this, the UK has a powerful reputation for academic excellence, with strong research and development links. As many of these businesses have achieved success in the UK, they are now looking for the right level of support to export their products and services to key strategic markets around the globe, with the US right at the top of this list.

Taking a state-by-state approach, ABHI has gradually expanded its programme across the US, leading a number of trade missions in recent years to develop a network of connections within local health systems that include clinical heads and c-suite leadership teams. Alongside that, ABHI has cultivated relationships with Chambers of Commerce, key business groups and leading technology companies. This led in 2017 to the establishment of a physical presence at The Dell Medical School in Texas, where we believe is the ideal location for HealthTech companies to be based.

The Texas attitude to innovation is very open, with a real willingness to collaborate. With regional headquarters of some of the country’s largest healthcare providers located in the state, it makes sense to not only sell products, but conduct further research and development, and develop strategies for the clinical ecosystem that companies will find themselves in. It also acts as the perfect springboard for accessing the wider US.

Building on the significant network developed in Texas, ABHI has expanded its operations across the US - enabling deep connections to a network of institutions and hospital groups. At present, 16 UK companies are taking advantage of ABHI’s offer, which provides a platform for businesses to strengthen and grow their US activities by utilising ABHI’s advice, expertise and connections. From that initial cohort of 16 companies, 25 businesses have already pledged to use the programme in 2020, with this number expected to reach 30 by the end of the year.

Members of the programme benefit from the full use of ABHI’s dedicated workspace and office at the Dell Medical School in Austin, which provides access to their facilities and the support of senior faculty. The programme has already led to over 25 international research collaborations and new business generated for UK industry.

As Paul Benton, managing director, international, ABHI details: “When we first launched the initiative two years ago, the majority of our work was focused on Texas and its tremendous HealthTech capabilities. Building on these foundations, our expanded offer now delivers a springboard to other states, with numerous activities planned across the wider US over the coming year.”

Companies will also benefit from a nationwide programme of missions to key strategic regions, enabling more personal and lasting ties with the networks ABHI has cultivated over the years.

One company already committed to the 2020 cohort, is Bristol-based P3 Medical. Their sales manager Adrian Javes said: “As an SME looking to enter the American market for the first time, the ABHI US Accelerator has been integral to negotiating the complexities of GPO’s and hospital systems. The trade missions have been a fantastic opportunity to pitch our products to a level of hospital management that we would never be able to gain access to.”

Benton concludes: “Through the ABHI US Accelerator, this nationwide programme enables companies to de-risk their market entry and drive operations within the US. Added to this comes the support from a cohort of in-market experts and access to ABHI’s highly developed US network. It is truly a comprehensive offer and one that I am delighted to see that companies are taking advantage of.”