Saving lives is a deeply noble profession, and also one of great innovation and invention. A living and breathing example of this innovation is Medovate Ltd, recognised in this issue of Global Health and Pharma magazine as 2020’s Leading Innovators in Medical Device Development – United Kingdom. We take a closer look at the firm following this latest success to find out more about what it offers, and how its innovations are saving lives up and down the country.
Medovate is a dedicated medical device development vehicle for the NHS, and specialises in supporting, developing, and taking to market some of the great ideas for medical technologies from NHS doctors, nurses, and clinicians to help improve patient care. With its unique business model, Medovate provides the crucial financial support required by early stage innovations. By providing funding along with its expertise at a crucial point in development, Medovate can help speed development of promising innovations through clinical trials and regulatory approval phases so that they can become products which are ready for markets around the world as quickly as possible. The efficiency and effectiveness of this business model has been proven successful by Medovate, launching the first product to market, SAFIRA®: SAFer Injection for Regional Anaesthesia, just over two years since it was founded.
Since its inception, Medovate’s vision has been to realise the potential of innovations arising from within the NHS and beyond, in a bid to improve patient care. Through innovation, excellence, quality, and transparency, the firm has been able to accomplish its mission by bringing together a team of medical technology specialists. The team has the required expertise and experience in developing business cases, protecting intellectual property, prototyping, testing, fundraising, and navigating the regulatory pathway to product launch. Members of the specialist team include engineers, regulatory professionals, and commercial professionals who can really help the NHS and clinicians take their technologies to market in a world that sorely needs them.
The company culture at Medovate is very much one of professionalism, collaboration, determination, and enthusiasm to support the protection and development of NHS-created innovation. Medovate’s culture does require high levels of commitment and input from the staff, but it is always tempered by an appreciation of what the team achieves, and successes are always acknowledged and celebrated on a team level, rather than on an individual level. The relatively small team of eleven staff all know that their input is vital, and each member of the team has the necessary professional qualifications, accreditations, and proven backgrounds to ensure that any medical technology or healthcare innovation is in safe hands. Staff are also encouraged and supported to focus on their own personal development, so that the team maintains a high level of knowledge and practice in all areas.
Given the achievements made in just a short few years, the word “dynamic” is seldom more applicable than it is here. In just a couple of years, Medovate has managed to secure FDA approval for its first new device, and successfully appointed distributors covering over 40% of the US market, and launched a new medical device during a global pandemic which has real potential benefits for clinicians and patients with COVID-19. Commercial partners have also been secured across Europe and Australasia, and there are plans to roll out the products and innovations that Medovate delivers on a global scale when the time is right to do so. Discussions are underway to commercialise other innovative devices from the NHS for airway management and gastroenterology surgery are at an advanced stage.
Ultimately, Medovate is doing work that is absolutely crucial, now more than ever before. At a time when medical innovation and protecting the knowledge and insight of the NHS is more important than at any other time, this title is a real testament to the achievements that the firm has made in supporting the NHS. For clinicians, doctors, and nurses to realise the potential of the innovations they create is outstanding, and that is what Medovate delivers on a daily basis, as well as benefitting the NHS and healthcare systems around the world.
Contact Tracey Eke at www.medovate.co.uk