ABHI has announced it is expanding its Innovation Hub to help support UK healthtech companies do business in the US.
Texas
Launched six months ago alongside the Dell Medical School at the University of Texas in Austin, ABHI’s Innovation Hub offers UK companies the chance to base themselves in Texas to grow their business. Companies are given access to Dell’s faculty and can take advantage of a network of clinical contacts, hospital systems, investors, and key business groups.
Due to the Hub’s success, ABHI has now announced it will be expanded to accommodate double the number of organisations.
Ruben Rathnasingham, assistant dean for Health Product Innovation at Dell Medical School, said: “The adoption and use of innovative technologies is the greatest enabler for delivering population health and value-based care. We are therefore delighted to be working with ABHI and the Innovation Hub members to deliver this. It is particularly pleasing to see just how successful this initiative has been, and I look forward to supporting more UK companies across Austin and the wider State.”
The Innovation Hub is a part of ABHI’s US Accelerator Programme, which also gives companies access to ABHI’s Texas trade missions, designed to develop partnerships across the state with clinical communities. More so, companies can also participate in the 'Texas Health Catalyst,' a programme designed by the Dell Medical School to foster health research and advance innovation.
Speaking about the partnership, ABHI international director, Paul Benton said: “We have had so much momentum with the Innovation Hub that we have decided to expand the scheme to enable more companies to benefit from it. Not only are we offering physical space and connections, but the support offered through our network of US-based mentors allows companies to tap into advice and expertise from a group of in-market specialists. It is a great opportunity and we are looking forward to welcoming more UK companies into the Hub over the coming months.”
One of the companies to join the Innovation Hub is medical device group P3 Medical. Commenting on the decision to join the Hub, Simon Talbot, P3 Medical’s managing director said:
“This is a great opportunity for us as a company. Being part of the Hub allows us to be in a world-class facility, within an ecosystem of clinicians, investors and mentors whilst we grow our American business.”
East Midlands Academic Health Science Network managing director, professor Mike Hannay added: “Innovation is essential to the future of healthcare around the world and we are committed to building relationships that enable better clinical outcomes and improved patient experiences. The Hub is a great opportunity to make this happen.”
Supporting the initiative, Richard Stone, chief executive, Medilink WM said: "The US market is highly prized, but challenging to enter - particularly for SMEs, and in a trading environment dominated by Brexit-related worries, Medilink wholeheartedly supports positive market access initiatives such as the ABHI Innovation Hub."