New state-based pilot to back home-grown medtech innovation

MedTech & Diagnostics: In a bid to enhance opportunities for local medtech manufacturers to sell to health services, a connected program is set to be established in Victoria. This initiative builds on the foundations laid by the Australian Medtech Manufacturing Centre.

The the Australian Medtech Manufacturing Alliance (AMMA) is a collaboration among key industry bodies, including BioMelbourne Network, AusBiotech, MTPConnect, and the Australian Manufacturing Technology Institute Limited (AMTIL), alongside the Industry Capability Network Victoria. Seed funding for the initiative has been provided by the Victorian Government.

Aiming to create a unified voice for the industry, the Alliance will advocate for Victorian SME medtech manufacturers, tackling pivotal issues that impact the sector. Among its primary objectives is to address procurement challenges, thereby increasing the share of locally-made medtech products within the Australian healthcare system. This ambitious goal leverages the diverse range of high-quality medtech offerings available from local manufacturers.

Karen Parr, CEO of BioMelbourne Network and the Alliance lead, emphasised, “Australia is home to world-class medtech innovators and manufacturers. Increasing awareness of these companies and growing local content in health will support Australian health services to continue to deliver world-leading care and strengthen our country’s sovereign capabilities.

“The Victorian pilot aims to demonstrate the potential of this ambitious and important solutions-focused Alliance and work as a stepping stone to empower the national agenda.”

Natalie Hutchins, Victoria’s Minister for Jobs and Industry, remarked, “Victoria is the national leader for medtech innovation. A thriving and sustainable medtech sector is essential to ensuring Victoria can continue to deliver world-leading health care now and into the future.”

The initiative will also co-develop an SME capability uplift program to help local companies identify and navigate contestable market opportunities. Notably, unlike other sectors such as defence, there is currently no statewide or national mechanism to assist local medtech manufacturers in selling to the Australian health system.

In contrast, other international jurisdictions have established clear pathways to support local medtech manufacturers in securing customers within their home markets. For early-stage Australian medtech companies, often exporting to more established health markets, having a domestic customer base is a crucial validation point.

By fostering a connected voice and creating pathways that unlock the ‘pull’ mechanism from Australia’s healthcare system, the Alliance aims to benefit patients with Australian-made products while also stimulating future investment in medical science innovation.

The Alliance extends an invitation to established Victorian medtech companies engaged in local or global sales of medtech products, as well as contract manufacturing and development firms, to participate. It will collaborate with all peak bodies dedicated to the growth of the sector to amplify ongoing efforts to support SMEs in expanding both locally and internationally.

In reimagining healthcare, Health Industry Hub^TM is the ONLY one-stop-hub uniting the diversity of Pharma, MedTech, Diagnostics & Biotech sectors to inspire meaningful change. The exclusive leadership and influencer podcasts and vodcasts offer unparalleled insights and add immense value to our breaking news coverage.

The Health Industry Hub^TM content is copyright protected. Access is available under individual user licenses. Please click here to subscribe and visit T&Cs here.