Lottie McMahon
International Manager, ABHI
From medical devices to diagnostic tools and digital health solutions, healthtech is an industry that continues to flourish through the development of patient-focused products and services.
The UK has a rich history of life science innovation, with many thousands of small and medium-sized healthtech companies operating across the country.
Expanding the reach of healthtech solutions
Being able to export healthtech solutions is a burning ambition for innovators; and the US is, for many, top of that list. It is, by some way, the largest market for healthtech in the world, and by being able to bring high-quality healthtech to patients in the US, companies are not only able to extend the benefits of their innovations to more people but can grow as a business in the process.
However, because of its status as a destination market, entry into the US is incredibly competitive. Without a clear strategy and support, progress can be time-consuming and costly, especially for small businesses. Helping UK companies throughout this process was therefore the genesis for the ABHI US Accelerator in 2017, and six years on, the initiative continues to go from strength to strength.
Without a clear strategy and support,
progress can be time-consuming and
costly, especially for small businesses.
Connecting UK businesses to help more patients
Taking a state-by-state approach, ABHI has gradually expanded its offer across the country. In the process, it developed a network of connections within local health systems — including clinical heads and senior leadership teams — and cultivated strong relationships with Chambers of Commerce and key business groups. The programme is underpinned by a network of mentors — experts in their respective fields that can be called upon for advice and support.
Over 150 companies have gone through the ABHI US Accelerator programme; international research collaborations that have been undertaken alongside new business generated for UK industry. Ultimately, this is benefiting patients on both sides of the Atlantic and enabling high-quality businesses to grow.
It provides a compelling offer for companies looking to enter and upscale their activities in the US; not only by giving them a helping hand but by providing a tailored service to grow sustainably. We are recruiting our 2024 cohort, which will be the seventh cohort into the programme. We have planned visits to hospital groups and meetings with clinical and supply chain leaders — to support their healthcare improvement initiatives. It is an enormous privilege to be able to support UK companies bring proven healthtech to different markets, and we look forward to further strengthening this international collaboration in the years ahead.