Balancing Organic VS. Inorganic Growth in Medical Device Business Development
This is a short video explaining the difference between organic and inorganic growth, pros and cons of each and when to leverage them. This video previews one topic that will be discussed at the Annual Medical Device Business Development Conference.
The panel will discuss best practices for internal and external growth, devoting resources to buy vs build opportunities, aligning company goals with organic/inorganic growth and metrics to measure success in ongoing expansion.
Speakers include:
- David Ribble, Director of Innovation, HILL-ROM
- Biren Mehta, Vice President, Business Development Cardio, Specialty Solutions Group, JOHNSON & JOHNSON
- Chris Lyons, Director, Global Business Development, Spine & Biologics, MEDTRONIC
- Eric Shelton, Director, Business Development, PHILLIPS-MEDISIZE
- John White, Vice President, Business Development, WRIGHT MEDICAL TECHNOLOGY
- Scott Meyer, Director, Strategic Business Development, CARL ZEISS MEDITEC
As medical device companies expand product portfolios and market reach, decisions must be made regarding the best approach for growth, whether it be through organic or inorganic opportunities. Depending on various factors including internal resources and external competition, corporate strategy teams can continue the development of an organization through business model transformation, product development, portfolio strategy, acquisitions and investments. Finding a balance in buy vs build options does not have a one-size-fits-all approach; however, medical device manufacturers must strengthen organic and inorganic expansion to ensure profitability and continued success.
