The Client is a company specializing in ultrasonic sensor and imaging components, primarily for industrial applications. The company wants to expand their technology into the development of medical device products for OEM distribution; however they do not have internal expertise in this medical business environment. Currently, much of the funding for the research and development these medical device products comes through grants.

• The client wanted to increase their chances of being awarded significant grant dollars by submitting clear, concise and compelling grant applications.
• The client sought help in creating the business development, marketing and regulatory elements of a business plan that would be included with the grant applications.

The Anson Group Solution

The Anson Group proposed a project that would identify, characterize and quantitate the key elements of a business plan that would be included in grant applications. This project included:

• A review of the current medical literature for the therapeutic categories
• A market research plan to characterize the primary target markets
  • Determine current "standard of care" criteria
  • Quantify the primary target audiences and estimate the number of procedures/year/practice
  • Determine equipment purchasing patterns for the targeted medical professionals
  • Estimate market penetration rates
• Initial discussions with a potential, international OEM distribution partner

Key Accomplishments (6 months after project initiation)

• The Anson Group provided comprehensive business plans that were integrated into grant applications.
• The client has been awarded two substantial grants that allow them to pursue the development of their technology into medical device products.

How the Anson Group has benefited the client:

• After being awarded the funding grants, Anson moved forward to assist the client with the development of a strategic partnership between the client, a major international distribution partner and a major medical center.
• Anson continues to work with the client on a strategic plan to develop an organization (Management, R&D, Regulatory/Clinical, Operations) that will effectively support these new medical product opportunities without compromising their basic industrial business applications.