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“Entrepreneurship in the Bio-Medical Equipment Industry” Bio-Medical Engineering National Student Conference

“Entrepreneurship in the Bio-Medical Equipment Industry” Bio-Medical Engineering National Student Conference. Shimon Eckhouse June 18, 2009. Med tech business sector - mid 2009. Ageing population induces continuous growth of need for new solutions

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“Entrepreneurship in the Bio-Medical Equipment Industry” Bio-Medical Engineering National Student Conference

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  1. “Entrepreneurship in the Bio-Medical Equipment Industry”Bio-Medical EngineeringNational Student Conference Shimon Eckhouse June 18, 2009

  2. Med tech business sector - mid 2009 • Ageing population induces continuous growth of need for new solutions • Environmental and cultural trends create new healthcare problems • Healthcare business less sensitive to changing economic environment • Very multidisciplinary in its nature • Israel has unique advantages due to its strong defense technology infrastructure • Fed by fast progress in areas such as: • Computing • Material science • Biotechnology

  3. Example - Obesity Landscape • The US Centers for Disease Control & Prevention estimates that one-third (~133M) of all US adults are overweight or obese • The World Health Organization’s estimates that >70% of European adults (55-64 years of age) are obese or overweight • The overall obese population could rise to more than 700 million by 2015, with nearly 2.3 billion overweight globally • Aug 2006 study published in New England J of Med (527,265 patients) concluded that the risk of death at midlife (50) is higher by 20-40% for overweight people and by a factor of 2-3 for obese people without other risk factors • Due to cultural obsession with thinness & the societal & psychological associations of obesity, it has been estimated that: ~50% of American women and ~25% of American men are attempting to lose weight • Total size of US weight control market $46.3B in 2004, expected to grow to $61B in 2008 (Market Data, Orlando Fl) • Obesity is a complex, multi-factorial chronic disease with limited solutions available

  4. Age- and region-adjusted frequencies of CVD and diabetes mellitus across gender specific quintiles of WC in the overall study population of (A) men (n=69,409) and (B) women (n=98,750). From: A Study of Waist Circumference, Cardiovascular Disease, and Diabetes Mellitus in 168 000 Primary Care Patients in 63 Countries. Circulation Oct 2007

  5. Some Important Success Factors • Market Understanding • Winning Technology/Products • Business Model

  6. Personal experience in med tech in Israel

  7. ESC medical

  8. From Lasers to IPL ESC 2nd generation skin treatment products 1970 1980 1990 1994 Intense Pulsed Light Lasers Epidermis Dermis Subdermal Fat & Collagen

  9. PhotoDerm VL ESC’s 1st IPL product PB 000-7005 9/97

  10. ESC market share evolution-”organic growth and acquisitions

  11. ESC Medical funding history • ESC was founded in 1992, started sales of its first product in 1994 and reached profitability at the end of 1994 • Total investment in ESC until it became cash flow positive $2.25M • ESC went public on Nasdaq in January 1996. In 1997 ESC reached a valuation of ~$1B and sales of $110M • ESC completed 3 public offerings and raised a total of $220M

  12. Leadership in non-invasive aesthetic medicine

  13. From Lasers to elōsTM – Technology Evolution 3rd Generation Technology 1970 1980 1990 1995 2000 Intense Pulsed Light Lasers elōsTM Conducted RF Light Epidermis Dermis Subdermal Fat & Collagen

  14. eLight – Skin Rejuvenation and Skin Tightening R hand treatedL hand not treated

  15. ELOS Vela Treatment: skin tightening and skin rejuvenation Before Post 4 tx Post 8 tx

  16. Syneron funding history • Syneron was founded end of 2000, started sales of its first product in 2002 and reached profitability at the beginning of 2003 • Total investment in Syneron until it became cash flow positive $3.5M • Syneron went public on Nasdaq in August 2004. In 2005 Syneron reached a valuation of ~$1B and sales of $54M

  17. Aortic Stenosis 2-4% of Population > 65 age 1.5m Americans 65 Million People in US 3rd most Common CV disease 63% of valve Disease CV Disease Valve disease Aortic Stenosis Healthy Valve Stenotic Valve

  18. Tomorrow Minimal invasive $10-25,000 30 minute procedure 1-2 day hospital stay Fast recovery Surgical vs. Minimally invasive valve replacement Today Technique Open-heart surgery Procedure cost $25-50,000 Patient Impact 3+ hours of surgery 5-7 day hospital stay 2 month recovery Global 2007 aortic valve market ~$1B

  19. Ventor Exit • Ventor was acquired by Medtronic in February 2009 for $325M in cash • Total investment in the company until it was acquired ~$13M • Company founded in 2004

  20. High accuracy tracking inside the body for radiation oncology

  21. Navotek’s System

  22. System Installed on a Radiation Therapy LINAC

  23. 10mm NanoCyte Nature’s Drug Delivery

  24. Anemone Cultivation Facility Experimental Unit

  25. Insulin / Diabetes Changes in glucose levels in response to insulin administration

  26. Summary – Med Tech and the Israeli perspective • Growth opportunities (even today) • Highly qualified scientific and engineering work force • Advanced hospital system and highly qualified medical staff • More than 30 years of companies active in med tech (Elscint)

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