Australian health innovators build partnerships with US Texas Medical Center

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The first Australian companies invited to one of the largest life science business accelerators in the US, the Texas Medical Center (TMC) accelerator program TMCx, have returned after completing a four-month stay.

TMC is the largest medical centre in the world and Houston’s biggest employer, with an extensive campus of 21 hospitals, 50 non-profit organisations and eight academic and research institutions. TMC concentrates its operations and research on genomics, regenerative medicine, innovation, clinical trials and health policies.

The first Australian intake into TMCx was phase one of the broader Bio-Bridge initiative – a partnership between TMC and Australia’s medical technology sector.

CNSDose, WardMM and Personify Care participated in the first Australian intake into TMCx, from February – May 2017, with support from the Health Informatics Society of Australia (HISA).

Dr Harris Eyre, CNSDose CMO, said TMCx is a world-class opportunity which is nestled within the world’s largest healthcare market, the US.

Alastair Walton, Austrade’s Houston-based consul-general and senior trade and investment commissioner said this is only stage one.

"Since opening the Houston office, we have continued to work closely with TMC to position Australia as a key partner in health innovation, research and clinical trials to develop this partnership," said Mr Walton.

"The partnership will develop a sustainable growth platform for Australian innovation in medical devices, diagnostics and digital health, and foster connectivity and collaboration with new customers and decision makers at some of the leading hospitals and medical institutions in the US," he added.

Australian participants gained insights from experts in every facet of exporting health-related technologies to the US, which included clinical trials, FDA regulations, HIPAA/HITECH compliance, hospital procurement, commercial pilots, IP, licensing, fundraising and marketing.

Through the program, the Australian participants also received free services from US market experts which included legal advice, business planning, regulatory counsel and access to the eight million patient encounters at TMC annually.

"We recommend Australian medtech companies seriously consider the TMC Bio-Bridge initiative," said AusBiotech CEO Glenn Cross.

"The contacts and expertise you will develop through this program will be invaluable in your efforts to enter and succeed in the largest healthcare market in the world," he added