AdvaMed Names Four MedTech Innovator Finalists to Compete for $335,000 in Prizes

AdvaMed 2016: The MedTech Conference, the leading event for medical technology professionals in North America, and MedTech Innovator has named Adient Medical, Catalia Health, Green Sun Medical, and SafeHeal as the four finalist companies in the annual global competition, which will conclude with two $25,000 JLABS awards, a $35,000 cash prize for execution, and the finals competition on October 19 for $250,000 in cash prizes.
 
Held in partnership with AdvaMed Accel, MedTech Innovator is the medtech industry’s global competition and virtual accelerator that identifies and accelerates the development of transformative innovations that benefit patients and deliver improved value to the health care system, including medical device, diagnostic, and digital health technologies.
 
“The MedTech Innovator finals at AdvaMed 2016 is the culmination of a year-long program, with six pitch sessions and three competitions held in seven cities around the globe, in an industry-wide collaboration of hundreds of companies to identify and move these transformative innovations forward,” said Paul Grand, CEO, MedTech Innovator. “On October 19, these four finalists will have an amazing opportunity to share their innovative technologies with the 2,500+ conference attendees, including many business development executives, venture capitalists and other industry influencers.”
 
The finalist companies have developed innovative medical technologies related to pulmonary embolism, scoliosis, ostomies, and improved patient engagement:
 
Adient Medical is developing the first absorbable Inferior Vena Cava filter for the prevention of pulmonary embolism.
Catalia Health’s digital medical technology, the Mabu Healthcare Coach, combines human psychology with artificial intelligence to improve health care outcomes and create patient engagement.
Green Sun Medical is developing a tech-enabled spinal brace for Adolescent Idiopathic Scoliosis patients that applies reduction forces dynamically, both allowing the patient to move and generate the constant corrective forces necessary to reverse deformity.
SafeHeal Medical’s Colovac is an innovative solution for the protection of digestive anastomosis, designed to reduce anastomotic complications and to prevent the need for diverting ostomies for patients undergoing colectomy.
 
“Initiatives like MedTech Innovator are crucial to maintaining a healthy ecosystem for early-stage medical technology companies,” said Ashley Wittorf, executive director, AdvaMed Accel. “The four finalists are prime examples of the inventive and entrepreneurial spirit that drives the medical technology industry and excellent representatives of the more than 500 companies that applied to participate in business development focused programming at AdvaMed 2016.”
 
MedTech Innovator 2016 began in February with the selection of 10 transformative technology themes identified in a MedTech Innovator/AdvaMed survey of 50 leading medtech companies. These industry-selected themes guided the selection of 20 semi-finalist companies in June from a pool of more than 430 applicants. The semi-finalists are currently participating in the MedTech Innovator virtual accelerator, a program designed to deliver strategic content and mentorship. The 2016 accelerator program will conclude with presentations by all 20 semi-finalists at AdvaMed 2016 in the Innovation Showcase on October 18 and 19, including the four finalists competing in the MedTech Innovator Finals. For more information on the road to the MedTech Innovator Finals, see medtechinnovator.org/2016finals.
 
The final round of the MedTech Innovator competition will be held during a plenary session at AdvaMed 2016 on Wednesday, October 19 at 7:30 a.m. The four finalists will make their presentations and be questioned by the judging panel, including Daniel Estes, vice chair, Mayo Clinic Ventures; Jennifer Kozak, vice president, new business development, Johnson & Johnson; Albert Lauritano, director, strategic technology partnerships, BD; and Tamara StClaire, chief innovation officer, Xerox Healthcare.  The winners will then be determined by a real-time live audience vote, with cash prizes of $200,000 for first place and $50,000 for second place, which are supported by Johnson & Johnson, the Cottrell Foundation, BD (Becton, Dickinson and Company), Enterprise Ireland, IDA and RCT Ventures.

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