The Association of British HealthTech Industries (ABHI) is supporting its latest group of UK HealthTech innovators on its first US trade visit this year, under its flagship US Accelerator programme.
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Taking place from 20-27th April, the visit is bringing together a select group of UK pioneers to highlight the UK’s HealthTech industry and explore collaborative opportunities in Minnesota and Maryland.
The week-long visit introduces members to the companies from across these ecosystems, including hospital systems, accelerators, business chambers and professional service companies across Minneapolis and Baltimore – the largest cities in both states.
Throughout the week, the cohort of UK companies are showcasing a range of products and solutions to the US market. Meetings are taking place with senior leadership from some of the State’s largest hospital systems – including The Johns Hopkins Hospital and Mayo Clinic – group purchasing organisations (GPOs), distributors, investors and procurement teams.
In addition to hospital systems, the visit is offering an array of engagement opportunities with organisations such as The National Institutes of Health, Elevance Health and Medica. These partnerships facilitate networking opportunities, knowledge exchange and access to critical resources crucial for success in the US.
Paul Benton, managing director, International, ABHI said: “We are excited to kick off our 2024 programme with a visit to these wonderful states. Both regions are known for their welcoming ecosystem, supportive policies, access to talent and funding, and proximity to leading research institutions, making them an ideal location for UK companies to thrive and innovate. As our first stop, we are excited to bring a fresh cohort of UK innovators who are ready and eager to explore opportunities to collaborate.”
Maryland and Minnesota serve as strategic entry points into the US market for UK HealthTech companies looking to expand internationally. The states offer access to large and diverse healthcare markets, including hospitals, healthcare systems and research institutions, presenting ample opportunities for market expansion and growth.
Maryland, the first stop for the 2024 cohort, is home to research institutions such as Johns Hopkins University, the University of Maryland, and the National Institutes of Health.
Known as Medical Alley, Minnesota boasts the number one HealthTech cluster in the world. Housing more than 1,000 HealthTech companies, the state is home to the nation’s largest private health insurer, UnitedHealth, and top-ranked hospital, the Mayo Clinic.
The week-long visit – exclusive to members of the ABHI US Accelerator – provides a prime opportunity for members to explore the strengths and capabilities these regions boast in life sciences while forging meaningful partnerships with healthcare leaders, offering advice, mentorship and guidance to help build and de-risk their US market access strategy.
A total of 20 companies from the world of health technology are taking part in this year’s cohort. Together they constitute a diverse mix of medical device, diagnostics and digital health businesses, several of which are long-standing members of the programme, along with a host of new entrants.
The programme for the 2024 ABHI US Accelerator is sponsored by legal firm DAC Beachcroft (DACB), and legal and business consulting firm, Wilson Sonsini.