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

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Presentation on theme: "“Entrepreneurship in the Bio- Medical Equipment Industry” Bio-Medical Engineering National Student Conference Shimon Eckhouse June 18, 2009."— Presentation transcript:

1 “Entrepreneurship in the Bio- Medical Equipment Industry” Bio-Medical Engineering National 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 From: A Study of Waist Circumference, Cardiovascular Disease, and Diabetes Mellitus in Primary Care Patients in 63 Countries. Circulation Oct 2007 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).

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 2 nd generation skin treatment products Epidermis Dermis Subdermal Fat & Collagen Lasers Intense Pulsed Light

9 PhotoDerm VL ESC’s 1 st IPL product PB /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 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 elōs TM – Technology Evolution 3 rd Generation Technology Epidermis Dermis Subdermal Fat & Collagen Lasers Intense Pulsed Light elōs TM Conducted RF Light

14 eLight – Skin Rejuvenation and Skin Tightening R hand treated L 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 In 2005 Syneron reached a valuation of ~$1B and sales of $54M

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

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

20 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

21 High accuracy tracking inside the body for radiation oncology

22 Navotek’s System

23 System Installed on a Radiation Therapy LINAC

24 NanoCyte Nature’s Drug Delivery 10  m

25 Anemone Cultivation Facility Experimental Unit

26 Insulin / Diabetes Changes in glucose levels in response to insulin administration

27 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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