Ventura Medical Technologies, based in Barcelona, Spain developed a surgery kit in 2015 for treating pectus excavatum, one of the most common chest wall deformities. Ventura decided to explore their market potential in the USA. They teamed up with MedScaler to validate their value proposition through a Market Analysis.
There are a large number of patients affected by pectus excavatum worldwide that have been treated with painful, invasive techniques for more than 20 years. Ventura Medical Technologies has developed Pectus Up – an extra thoracic minimally invasive approach for treating pectus excavatum which reduces pain, medication, hospital stay and complications significantly. Considering the surgical intervention is performed outside the thoracic cage, it contributes to eliminate any damage to the internal organs, thus increasing patient’s safety. Ventura Medical Technologies is constantly seeking innovative products to fill the gaps identified by healthcare professionals.
What is your founding story? How did you come up with this innovation?
In 2010, after more than 30 years in the automotive industry with great know-how in manufacturing, the company decided to look out of the comfort zone into promising markets such as medical devices. Since its foundation, our mission was to provide innovative solutions within the healthcare field through the ideas of professionals. It was interesting to get involved with hospitals for the first time. After looking into several research projects led by healthcare professionals, we finally found an idea that fit perfectly because of our knowledge and industrial capabilities. Right after evaluating the idea from a pediatric surgeon, we started to manufacture prototypes with 3D printing in order to get a minimum viable product to validate the idea. Afterwards, it was only a matter of manufacturing a product according to the safety and quality standards for medical implants.
How is your company revolutionizing healthcare?
Ventura Medical Technologies is constantly seeking innovative products to fill the gaps identified by healthcare professionals. In order to do so, we are working side by side with them along the whole development.
Why are you interested in entering/exploring the US market?
After several years commercializing Pectus Up in more than 10 countries in Europe and Latin America, it was time for a bigger challenge which was the United States. We have been interested in the United States for its market potential and for being a reference in health innovation worldwide. The company has been working on it since the very beginning when both the product and the surgical technique were patented.
What is the next milestone for your company?
The next milestone for Ventura Medical Technologies is to launch our new innovative devices related to pediatric urology and otolaryngology by the end of 2020. Furthermore, we expect to get the approval to commercialize Pectus Up in many other countries where we are working.
What is the most valuable tip about innovating healthcare that every entrepreneur could learn from?
The healthcare sector is demanding because of its regulations; therefore, it is important to consult with an expert before approval. In addition, innovating in healthcare requires to work together with key opinion leaders in the sector who should constantly validate the development process from a medical point of view.