MD&M WEST Conference 2023
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Dave Sheppard, co-founder and managing director, MedWorld Advisors (far right) led a panel about Growth Thru Innovation: Develop, Partner, or Acquire with Tom Wilmering, former Medtronic R&D executive and co-founder, Medical Device Innovations and Paul Findley, former Medtronic R&D executive and co-founder, Medical Device Innovations.
As we’ve been attending the MD&M West Conference since the 1990s, it’s been interesting to observe the growth of this event on multiple levels. This year’s event (held in February in Anaheim, California) was once again a successful gathering of engineering and supply chain professionals in the medical technology industry, with a focus on the contract device manufacturing organization (CDMO) and contract manufacturing organization (CMO) segments of the industry. MD&M West brought together more than 10,000 executives, managers, and technical experts from across various levels of medtech to network, learn, and share insights on the latest trends, challenges, and opportunities in the field.
We were grateful to sponsor a panel discussion: Growth thru Innovation: Develop, Partner, or Acquire. Featuring two former Medtronic R&D executives as panelists and Dave Sheppard (one of the authors of this column) as the moderator, the session discussed the advantages of innovating growth through (1) internal development; (2) strategic partnerships; (3) acquisition of key technology; and (4) a combination of all the above. (Note: please reach out to the authors if you’d like us to send you a summary slide of this presentation.)
In addition to the educational sessions, the main event for this specific conference is the large exhibit halls, where attendees had the opportunity to see the latest products and services from original equipment manufacturer (OEM) suppliers and manufacturing automation in the medtech industry. With networking activities (such as a booth pub crawl where beer’s flowing), the exhibit hall was a hub of activity allowing attendees to connect with key suppliers and possibly find new vendors for upcoming projects.
As many of the participants wandering exhibit floors and hallways were executives from investment banks and private equity, it’s no surprise that one of the key topics of discussion at the conference was mergers & acquisitions (M&A) in the medtech industry, specifically within the CDMO and CMO segments. Key conference sessions included presentations regarding the current state of M&A in the CDMO/CMO space. Discussion among M&A executives brought insights into the factors driving M&A growth in the sector, including increasing demand for medical devices, the need for more specialized contract manufacturing services by industry OEMs, and the amount of dry powder (investment cash) available by financial investment firms that focus on the medtech industry. There were so many M&A professionals in Anaheim that it was difficult to walk down an exhibit aisle without bumping into a private equity executive or M&A advisor. These dynamics were helpful for us as we were representing two seller clients at this event.
For supply chain executives, this event was successful in observing the latest trends in automation, material innovation, wearable components, micro molding, and much more. One simply had to discern whether an attendee was buying a product/technology (supply chain related) or a company (M&A related) before deciding whether the conversation was appropriate for their needs in Anaheim. Overall, if someone is looking to expand their network, learn about the latest advances in the industry, or explore potential business opportunities (including M&A), MD&M West was a must-attend event for anyone in our medtech CMO/CDMO industry.
ABOUT THE AUTHORS: CCEO Florence Joffroy-Black is a long-time MedTech M&A and marketing expert. She can be reached at florencejblack@medworldadvisors.com. Managing Director Dave Sheppard is a former medical OEM Fortune 500 executive and an experienced MedTech M&A professional. He can be reached at davesheppard@medworldadvisors.com. “Value = Strategic Fit + Timing® is a registered trademark of MedWorld Advisors.
To view this article on the Today’s Medical Developments website, click here.
