What We Do

A rigorous pursuit of customer insights.

Whether considering funding R&D for an internal program, positioning a product for launch, quantifying an evolving market’s size, seeking to accelerate sales by expanding to new market segments, or evaluating an acquisition, understanding customers’ clinical needs and economic incentives and constraints is critical. That’s where Health Advances excels.

Healthcare is our sole focus; therefore, Health Advances quickly and objectively integrates knowledge from a clinical, technical, and business perspective to create strategies that guide our clients’ most important decisions.

Health Advances expertise in medtech spans the range of product types and the breadth of settings in which devices are utilized.

How We Help Your Business

Pragmatic strategies for optimal positioning and realistic forecasts.

Our MedTech team has a deep working knowledge of the healthcare industry, customer, and market trends. This enables us to:

  • Efficiently evaluate market opportunities by developing a thorough understanding of a product’s most compelling value proposition(s) and its sales impact.
  • Provide insights into how the changing landscape of delivery, reimbursement, and regulatory issues affect market potential.
  • Determine which clinical applications to target with potent platform technologies.
  • Segment customers and understand adoption drivers by customer segment to optimize positioning and salesforce deployment.
  • Understand the role of economics in hospital and physician decision-making to build compelling economic arguments for products and develop persuasive selling tools.
  • Develop realistic sales forecasts based upon a rigorous understanding of unmet needs, patient referral patterns, various decision-makers and often dysfunctional economic incentives.
  • Identify the most promising international markets for rapid adoption of new technologies.
Examples

Susan Posner: “In response to changing decision-making dynamics in hospital product purchasing, Health Advances established our own OR Supervisor panel of experts. These professionals are often the ultimate drivers of purchase decisions, and they are extremely busy people so it is difficult for our competitors to reach them. This new 200-person panel adds to our existing group of hospital decision-makers and allows us to efficiently gain insights for our clients from this important group .”

Mark Speers: “Many of our clients are technically very strong and have developed core technology that can be directed at numerous clinical applications. This can be a burden more than a blessing. Working closely with these clients, our teams can quickly assess the alternative applications with a comprehensive view of clinical needs, provider economics, future competition, and regulatory hurdles. Somewhat counterintuitively, vertically integrating to pursue one application completely is often far more lucrative than developing several applications with various partners.”

Susan Posner: “Our client was facing changing market dynamics and needed to anticipate how growth and share for its product would evolve over the next three years. In addition, the Company was considering launching a next generation premium-priced product with the hope of gaining additional share. Ultimately, Health Advances developed of a rich understanding of the products’ revenue potentials and management optimized the cadence and pricing of the next generation product.”

Featured Areas

We have well-established methodologies for:

Medical devices
Market assessment and forecasting
Product strategy
Portfolio and platform prioritization
Customer segmentation
Business and corporate development
Pricing and reimbursement
Diligence and M&A

View our medtech case examples

Practice Leaders

Contact the Medtech Team

Recent News, Events & Publications

10.10.18

Tackling Exit Strategy at DeviceTalks Boston

Boston, MA

How can medical device executives best prepare their companies for lucrative sales? Susan A. Posner, Partner and Co-Leader of Health Advances MedTech Practice, moderated a dynamic panel session, “Getting to the Exit,” at DeviceTalks Boston.

Discussion topics ranged from how and when to develop an exit strategy, engage with potential acquirers, and challenging decisions executives face as companies mature.

The seasoned executive panel included Martha Shadan, President and Chief Executive Officer, Rotation Medical (acquired by Smith & Nephew plc in December 2017); Christopher von Jako, Chief Executive Officer, Dynatronics, Board Director, NinePoint Medical and nView Medical; and Jeffrey H. Burbank, Founder and Chief Executive Officer, NxStage.

09.24.18

Health Advances Featured in Diagnostics Investing Panel at The MedTech Conference (AdvaMed) 2018

Philadelphia, PA.

Mark Speers, Co-Founder and Managing Director, participated in a dynamic panel discussion, “Dx Investors: What the Future Holds.”

Scott Garrett, Senior Operating Partner, Water Street Healthcare Partners and AdvaMedDx Board Chair Emeritus, moderated the discussion and fired several provocative questions to a seasoned panel including Steve Beuchaw, Executive Director, Morgan Stanley; Eric Lev, Partner, Ampersand Capital Partners: Brian Miller, Managing Partner and Co-Founder, Linden Capital Partners; and Ipsita Smolinski, Managing Director, Capitol Street. Topics ranged from the near- and long-term impacts of the Protecting Access to Medicare Act (PAMA) and other Federal policy initiatives on the diagnostics industry to value-based pricing and investment considerations in light of the historic high EBITDA multiples.

07.18: MedTech Strategist

Beware the Seductions of M&A

Mark Speers, Co-Founder and Managing Director

Co-Founder and Managing Director Mark Speers points out some of the potential missteps that device executives may not consider when caught up in the excitement of the M&A path.

09.11.17

Health Advances Partners with Boston Children’s Hospital to Launch Pediatric Device Challenge

Health Advances is proud to be a provider partner to the Boston Pediatric Device Strategic Partner Challenge! This Challenge addresses the critical need for pediatric device development, and we are thrilled to partner with the Boston Pediatric Device Consortium and the Innovation & Digital Health Accelerator at Boston Children’s Hospital to promote this exciting opportunity – see full press release here.

Health Advances will be providing quarterly business planning strategy support to (a) selected winner(s).

“Pediatric care is an underserved area in medical devices with promising opportunities for current and emerging innovators seeking to improve pediatric healthcare worldwide,” said Susan Posner, Partner and Co-Leader of the MedTech Practice at Health Advances. “Our Health Advances team is excited to be a part of this.”

We look forward to meeting applicants at the “Meet the Challenge Partners” Event on Tuesday, September 19.

Learn more about the Challenge and apply by October 13, 2017.

03.18.16

Health Advances Co-Authors Groundbreaking Study Documenting the da Vinci® Robot’s Positive Economic Value

Intuitive Surgical’s da Vinci® surgical robot has often been accused of adding unnecessary costs to the healthcare system.

The Company enlisted Health Advances to perform a rigorous and comprehensive study of the robot’s long-term economic impact to hospitals, payers and society when deployed to perform radical prostatectomies for prostate cancer patients. The resulting study, “A Multidimensional Analysis of Prostate Surgery Costs in the United States: Robotic-Assisted versus Retropubic Radical Prostatectomy,” was written in collaboration with leading researchers and clinicians at Mount Sinai Hospital in NYC and has been published in the well-respected Value in Health Journal. The study estimates that, when factoring in all the costs of a surgery, the robot usually saves hospitals money. In addition, payers and society benefit from treating fewer downstream complications and less lost days of employment. The Health Advances authors are Mike Davitian, Holly May, and Mark Speers.
Click here to read the article.

03.16: Value in Health Journal

A Multidimensional Analysis of Prostate Surgery Costs in the United States: Robotic-Assisted versus Retropubic Radical Prostatectomy

Mike Davitian, Associate; Holly May, Consultant; and Mark Speers, Partner

Intuitive Surgical’s da Vinci® surgical robot has often been accused of adding unnecessary costs to the healthcare system. The Company enlisted Health Advances to perform a rigorous and comprehensive study of the robot’s long-term economic impact to hospitals, payers and society when deployed to perform radical prostatectomies for prostate cancer patients. The resulting study, “A Multidimensional Analysis of Prostate Surgery Costs in the United States: Robotic-Assisted versus Retropubic Radical Prostatectomy,” was written in collaboration with leading researchers and clinicians at Mount Sinai Hospital in NYC and has been published in the well-respected Value in Health Journal. The study estimates that, when factoring in all the costs of a surgery, the robot usually saves hospitals money. In addition, payers and society benefit from treating fewer downstream complications and less lost days of employment.


“Health Advances has been a tremendous partner to Audax as we’ve looked at medical device transactions. The subject matter, expertise that they bring to the table, their ability to move quickly and decisively has been invaluable to us. And some of our medical products and medical technology deals have been most successful at our firm and that’s due in no small part to the efforts of Health Advances.”
Read the case study.

David J. Wong
Managing Director
Audax

“Health Advances has an in-depth understanding of how the healthcare arena works; they know many of the players in the industry. They can really peel back the onion, offering insights, differentiators, new ideas and angles of how to look at things: how that marketplace might work; how this new product/system might apply. They have such a broad range of knowledge, they’ll even help you find acquisition candidates you hadn’t thought of.”

Lawrence Kinet
Former CEO, Investor, and Director