Ecton Inc. is a small company that develops innovative solutions in the medical imaging market. The latest device they have developed is the first portable, highly compact, fully digital, echocardiography. Traditional echocardiographies are large pieces of equipment that offer zero mobility. This rendered emergency rooms powerless to the convenience mobility offers. For example, if a doctor needed to receive an image of a patents heart they would have to schedule and move a patient to the location of the echocardiography. In an emergency situation this limits the data doctors require to make an accurate prescription if the patient cannot be move to the machine. By miniaturizing this device Ecton has ushered in a revolution in the medical imaging arena. The next step for the company is to decide how they are going to introduce the product to the market. This study has put me in the driver’s seat and offered me a glimpse of what the CEO was faced with when making this decision. I will provide my opinion regarding the next steps Ecton should perform moving forward with their newly developed disruptive technology.
First of all we need to understand the type of technology this device represents. Is this a sustaining innovation? Or is this a completely new disruptive product? After fully understanding this aspect we can make better decisions regarding the future of the firm and its product. This device offers many benefits that current products do not. As explained earlier, this device is extremely portable, offering emergency rooms the flexibility and convenience they seek to provide patients with the best treatment possible. Likewise, this product will come in at a price point much lower than current echocardiographies, further separ...
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...tive culture could be lost due to this acquisition. Although there are some obstacles with this route, searching for an acquisition partner seems like the fastest and most logical approach.
If I were asked to run Ecton during this period, I would suggest they utilize option two and seek out an acquisition partner. The benefits clearly outweigh the negatives in the scenario. The immediate cash, employs, and, marketing power is what this innovative product requires to capitalize on the large sales this technology is capable of capturing. By staying independent the time lost trying to create new value streams and processes seems unnecessary if the option to avoid this while providing the optimal return on investment to the shareholders exists. Bottom line, maximize shareholder return and create an optimal environment where this budding technology can rapidly grow.
Medtronic (Minneapolis) and Edwards Lifesciences (Irvine, California) were not strangers in patent lawsuits. Edwards is specializing in the production of artificial heart valves and new hemodynamic monitoring technology, whereas Medtronic is specializing in the production of medical devices. In the past, the two companies have problems in patent infringement lawsuits over annuloplasty procedures and endovascular graft (1,2). However, currently another latest patent infringement lawsuit has been occurred and reported between Medtronic and Edwards Lifesciences. Edwards claimed that it has prior intellectual property rights on the new transcatheter aortic valve technology.
“US Markets for Heart Valves.” SAGE Sourcebook of Modern Biomedical Devices: Business Environments, 2007. 21 April 2011.
Gaughan, P. A., 2002. Mergers, Acquisitions, and Corporate restructuring. 3rd ed.New York: John Wiley & Sons, Inc.
...markets. This was accomplished by focusing on design and engineering. However, without strong sales, marketing and production resources, the company will not be able to secure these alternative markets. Since the product is nearly completed, Ecton should stay with their original plan. This would allow Ecton to take advantage of their position as the first to market when negotiating with a potential buyer. By selling the business now, Ecton could avoid the necessity of giving up additional equity to secure additional funding. This would give the original investors (which include the founders) the greatest return on their investment. Michael Cannon has already developed an exit strategy in his Phase III plan. This plan should be followed through. Since Ecton is close to perfecting their product the time is right to make the best deal possible for an acquisition.
Our goal was to maintain adequate fluid in the vascular space in order to maintain a blood pressure adequate for each patient while avoiding complications. During our evidenced-based research we obtained information on a Crit-Line Blood Monitoring System. We performed a work flow analysis prior to the implementation of this tool then created a redesign process to evaluate this piece of technology into our practice. We ran into a few obstacles in regard to a time line for training, and the overwhelming feeling of learning a new piece of technology when patient care was so demanding. We worked through the obstacles and utilized the technology towards achieving our goal. We tried to purchase more monitoring systems because it was evident it optimized fluid removal and reduced the frequency of adverse reactions. We ran into financial obstacles with money being tight as we close our fiscal year. It is in our plan to purchase more systems in fiscal year 2016. We need to give all Veterans the same opportunity to benefit from this technology with the ultimate goal of experiencing less symptomatic while achieving better outcomes. The staff had buy-in to this technology from day 1one and with the opportunity for them to learn at a steady pace they were better acclimated to the
The soft factors can make or break a successful change process, since new structures and strategies are difficult to build upon inappropriate cultures and values. These problems often come up in the dissatisfying results of spectacular mega-mergers. The lack of success and synergies in such mergers is often based in a clash of completely different cultures, values, and styles, which make it difficult to establish effective common systems and structuresBased on the case study, extensive research and annual reports of AT&T the writer has mapped AT&T in the different domains. AT&T should strive to attain a perfect circle as close to the centre as possible, which indicates total synergy, order and equilibrium. Where the circle is skewed drastic change is needed as it moves closer to the outer ring of chaos:
Because this is a different type of acquisition, some aspects of the integration process will need to be rethought and she should certainly consider additional steps or a new system altogether for this challenging situation. She must work on reassuring Evergreen managers that she will stay true to the Evergreen Way by allowing them the autonomy they need to provide a unique experience. The issue here is the cultures are different, unlike previous acquisitions were the cultures have been aligned and the businesses have shared similar values. “The chances for success are further hampered if the corporate cultures of the companies are very different. When a company is acquired, the decision is typically based on product or market synergies, but cultural differences are often ignored. It 's a mistake to assume that personnel issues are easily overcome.” Usually, Evergreen’s careful research process ensures a smooth transition: likeminded managers from different stores learning about advanced systems but still able to control the day to day life in their store. However, acquiring Arugula and the use of slotting allowances which allow suppliers to pay to gain self space and make it difficult for local, smaller businesses, seem to be taking Evergreen away from its original vision. Norton must be sure to protect her managers and employees and continue providing them with the tools they
...at healthcare services start focusing on preventing disease rather than attempting to cure them.Funding is a chronic issue, and if a financial solution is not unearthed then there is no way that healthcare services will be able to capitalize on the opportunities afforded to us due to advances in both research and technology. With the prospect of Electronic Patient Records looming, healthcare systems worldwide need to ensure that they don’t allow healthcare to become impersonal, whilst simultaneously taking full advantage of these revolutionising technologies.We can finally conclude therefore, that although the opportunites discussed could have unforetold advantages for healthcare services, each comes with a correlating challenge whether it be funding or the will to change. Healthcare services need to face these challenges with fortitude in order to overcome them.
...th management to determine whether to spin off or integrate, and make a clear move toward that choice. Whichever the choice, the decision must be made, and management must be aware that regardless of their personal feelings, they must communicate it to everyone in their department.
Ost, D. (2011, November 7). 10 Ways Mobile Medical Computing Puts the Care Back in Healthcare. Forbes. Retrieved May 26, 2014, from http://www.forbes.com/sites/dell/2011/11/07/10-ways-mobile-medical-computing-puts-the-care-back-in-healthcare/
This made me question is there better ways out there that are more effective, more efficient, and can save the lives of many more all while being able to keep the care providers safer and more effective in other places of cardiac arrest care.
Modern pacemakers weigh less than an ounce, and they are only slightly larger than the size of a wristwatch face. In addition, they do not only have the ability to pace heartbeats through electric currents, but also monitor the heart's natural electrical activity. Current pacemaker devices include single-chamber pacemakers, multi-chamber pacemakers, biventricular pacemakers, rate responsive units capable of pacing, cardioversion and defibrillation. Moreover, due to many complaints about having to do a surgery on battery replacement which could increase the infection rate, on April 2015, multiple firms announced a new pacemaker called 'Micra' that could be inserted via a leg catheter rather than an invasive surgery. Once implanted, the device's tips contact the muscle and stabilise heartbeats. This device is about the size and shape of a pill, much smaller than the size of a conventional pacemaker and weighs much lighter. Additionally, 'Micra' has a battery longevity of 12 years and it is also leadless which is a major advantage to reduce device-related infections along with increasing the overall effectiveness of
To create a more life-like reality, it is necessary to consolidate into the simulation conditions as many characteristics found in the real life environment as feasible. One of these pieces is the transfer of diagnostic data In this descriptive study a highly cost-effective information center which gives the real-time performance of lab values, electrocardiograms, and radiologic studies in a way that is utmost alike to which exists in every Emergency Departments. This information center provides for a further practical copied patient conflict. It helps members smooth experiences included in radiographic analysis utilizing an interface located in the hospital. It also promotes continuous course of events by streamlining the performance of laboratory and electrocardiographic information. Employing this information service has enabled us to improve the effectiveness of our synopses, enhance member fulfillment, and give some extra work at interpreting information as it would be seen in the hospital.9
Medical technology encompasses a wide range of health care products that are used to diagnose, monitor, and treat diseases (Chandra & Skinner, 2012). Medical technology may include medical devices, vaccinations, pharmaceuticals, information technology, biotech, and healthcare services. Such technologies are intended to improve the quality of health care; while also containing cost, through earlier diagnosis, less invasive treatment options, reductions in hospital stays, and rehabilitation times. One of the leading theories is that medical technology is growing faster than expected and wit its advancement, it has become a major contributor of health care expenditure in America.
We as future health care providers need to learn and adequate all the new technology and utilized these tools to assist us in providing evidence based care to our patients. We need to learn to manage our patients with the tools and not letting the tools to overtaken our ability to care for the patients. It can be very challenging to not be occupied and distracted by the technology that surrounds us whiling providing care to our patients. however, if we can utilize these tools sufficiently and adequately, we can make a great difference in people’s lives and have great patient’s