Digital health monitoring device.
Healthcare/ Software & ICT
Our client came to IMS after approximately 12 months of R&D on a wearable healthcare monitoring device that would assist people to monitor and manage their varicose veins.
We were tasked with the development of a commercialisation strategy for their new product and to also challenge any research gaps which needed to be addressed before the business was investor ready.
We worked with this client over a 9 month period. Initially, we suggested some additional market research with end user feedback on the product concept was required. We managed this research process, arranging interviews with different demographic groups as well as key influencers such as GPs and Consultants. This research assisted us to streamline our value proposition and gave us direction regarding the optimum route-to-market. Strategically, our client recognised the need for investment to globalise their patented technology. We therefore undertook a strategic analysis of the market where we identified 10-12 industry players who would potentially have an interest in our client’s technology. Mapping our client’s position in this new digital monitoring market was strategically important in the approaches they would make. We enjoyed a close working relationship with the company founders and led the development of a business plan and supported the preparation of investor-ready presentations to a number of global companies.
Our client is currently in discussions with two global healthcare companies and is optimistic that a strategic partnership will be agreed in the near future.
Together we will help you develop a product strategy that supports every stage of your product life-cycle .