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What skills does a HealthTech company need to be successful? Darren Spevick - Eventum Partners

As with any company and in any sector, you can have a great and innovative product, but if it poorly marketed and nobody actually wants to buy it, the company will not survive.

We are observing that for many health tech companies they have focused so much time and energy on the technology platform, but struggle to implement and execute a commercial strategy.

Why is this? I suggest it could be because they have not done enough market research; they do not have a clear or realistic business model; do they have a B2B or B2C solution? Do they aim to sell to the NHS (if so which part of the NHS) or via commercial partners? Have they clearly identified who is going to pay for their solution? Can they demonstrate proper outcomes and benefits of their solution – e.g., Will it save the “healthcare system” money, and or what are the benefits to the patient?

In my opinion, the leadership team, via the CEO, Chief Commercial Officer, Chairman etc should be asking these questions in parallel to the development of the technology, and have all the answers before launch. If they don’t have these skills, they should invest ASAP in employing someone on an interim or permanent basis to do so, otherwise there is real risk that they will run out of money and will not survive.

By Darren Spevick – Managing Partner | Eventum Partners

Eventum Partners are the leading provider of interim, permanent & NED executive recruitment solutions to the health tech sector.

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