DAY ONE | TUESDAY, JANUARY 29
8:00 REGISTRATION & WELCOME COFFEE
8:45 CHAIRPERSON’S OPENING REMARKS
9:00 OPENING ICE BREAKER: TOOLS & TECHNIQUES FOR MONITORING INDUSTRY BUSINESS DEVELOPMENT TRENDS
Remaining competitive in the fluctuating medical device landscape requiresprofessionals to continually pursue effective methods for monitoring market expansion trends and key competitor acquisitions and strategic alliances. With a wide range of approaches to tracking market developments, it is imperative that executives identify the most relevant and timely resources. This interactive ice breaker commences the event with an opportunity for all delegates to move around the conference room and engage in brief, targeted conversations with the goal of sharing knowledge of specific platforms and tools for gathering intelligence to inform corporate strategy decisions.
David Leong, Corporate Strategy & Development Manager, ANALOGIC
9:30 IDENTIFYING PROMISING BUSINESS DEVELOPMENT OPPORTUNITIES: FOCUS ON HOME CARE DEVICES
Business development executives strive to remain abreast of opportunities that will not only guarantee safe investment return, but also fit current and upcoming patients’ needs. An area of rapid growth proving to capture payers’ interest and reimbursement approval is home based care, for which many manufacturers are developing cutting-edge products. With the increasing focus on patient-centered healthcare, forward-thinking leaders work towards securing a comprehensive understanding of this thriving market to ensure accurate product line and company valuation, in order to make sound business decisions resulting in maximized ROI.
- Home care devices’ expansion in the current market
- Forecasting the near future of home healthcare trends
- Criteria to identify propitious remote device products
- Determining a fit with corporate strategy & goals
Omar Halaby, Head of Strategic Market Insights, USA, SIEMENS HEALTHINEERS
10:15 COFFEE & NETWORKING BREAK
10:45 CHANGING REIMBURSEMENT & COMMERCIALIZATION MODELS’ IMPACT ON VENTURE STRATEGY
As payers continue to prioritize risk-based and value-based care models, business development executives strive to interpret varying reimbursement frameworks to ensure assets of interest match current healthcare network needs on both the public and private sides. In addition, continuously evolving healthcare coverage bills increase the challenge in determining whether a company or product pipeline will sustain reimbursement in the long term. Specific strategies developed towards the analysis of reimbursement potential is therefore of the utmost importance when considering a strategic venture.
Rhonda Fellows, Senior Director Market Access, Pricing & Professional Relations, JOHNSON & JOHNSON
11:30 EXAMINING EFFECTS OF TAX LAW CHANGES ON PROSPECT VALUATION AND M&A ACTIVITY ONE YEAR LATER
Although merger, acquisition, and strategic alliance activity has resumed a rapid pace after experiencing a level of deceleration due to caution regarding US tax law overhaul, industry members continue to face uncertainty surrounding the effects of the law on corporate valuations. In order to identify and pursue the most profitable growth opportunities, business development teams must secure a thorough understanding of the tax environment to calculate valuations, taking into account such factors as GILTI tax considerations. Additional clarification is needed in the practical application of new provisions, and how to update M&A evaluation strategy as well as model the impact of an acquisition accordingly.
- Practical review of 2017 tax law provisions
- Updated tax law on industry M&A: Impact analysis
- Strategic methods to update financial modeling
- Calculating accurate valuations accordingly
B. Chase Wink, Tax Partner
SKADDEN, ARPS, SLATE, MEAGHER & FLOM LLP AND AFFILIATES
12:15 LUNCHEON FOR ALL PARTICIPANTS
1:45 PANEL DISCUSSION: BRIDGING GAPS IN VALUATION FOR SUCCESSFUL DEAL NEGOTIATION
- Key components of a robust valuation model
- Determining factors to define company-specific value
- Demonstrating reasoning behind value
- Effective negotiation strategies
Erich Wolff, MEDTRONIC
Sean Freeman, NUVASIVE
Leah Brownlee, SQUIRE PATTON BOGGS
Eduardo Sarreta, GE
2:30 EXCHANGE GROUPS: DEBATING METHODS TO ACCURATELY CALCULATE ASSET VALUE IN AN OVERESTIMATED MARKET
With rapidly and significantly growing multiples across the medical technology manufacturing market, many transactions are conducted at prices higher than the relative value of the acquisition. The impact of overestimated valuation in both the public and private sectors has led to uncertainty regarding the most appropriate allocation of future investments. This peer-to-peer learning session allows participants to share perspectives on strategies to objectively calculate value, as well as the rationale behind investment determinations when moving into an acquisition at a high rate, enabling improved business development forecasting and price negotiation.
Rafael Torres, SVP Business Development & Strategy, VARIAN MEDICAL SYSTEMS
Michael Smith, Senior Director, Global Product Innovation & Clinical Affairs, STERIS | US ENDOSCOPY
3:15 COFFEE & NETWORKING BREAK
3:45 PANEL DISCUSSION: PROACTIVELY CONSIDERING COMPANY CULTURE TO ENSURE CORPORATE ALIGNMENT
While financial metrics continue to steer business development decision-making, industry members now recognize a critical need to expand considerations to include the asset’s perspective of innovation and management ideology. Acquisition or partnership establishment is regularly accompanied by a shifting and resettling of the on-boarded company’s priorities, attitudes regarding pace of innovation, and leadership, which can result in decelerated progress toward business development goals. Identifying key components of company culture in the potential acquisition or partner organization is necessary to proactively ensure that efficient alignment is ultimately achievable.
- Deciphering company culture key indicators
- Determining a fit with existing corporate culture
- Planning for impact of cultural changes
- Identifying further qualitative factors in valuation
Tom Williamson, BIOSTABLE SCIENCE & ENGINEERING
Scott Meyer, CARL ZEISS MEDITEC
Arvind Shresta, BD
4:30 EXCHANGE GROUPS: EXPLORING METHODS FOR ENGAGING WITH STARTUPS DURING PRODUCT DEVELOPMENT
The continuous demand for innovative products is driving creative arrangements between device corporations, with the goal of maximizing potential for solving healthcare problems, all while mitigating investment risk. Depending on company size, numerous opportunities exist for contracting with organizations of differing but complementary strengths. Business development professionals within large and mid-size corporations seek to engage with smaller, more agile businesses such as startups early in the product development process, and small companies at the forefront of innovation face unique challenges in efforts to prove innovative impact and to thereby gain access to capital through strategic alliances. By dividing into peer-to-peer learning groups based on company size, participants are given the opportunity to share practical strategies specifically applicable to unique business attributes and goals.
- Group 1: Large corporations:
Sean Freeman, NUVASIVE
- Group 2: Mid-size corporations:
William Nutt, ASPEN MEDICAL PRODUCTS
- Group 3: Small corporations:
Tom Williamson, BIOSTABLE SCIENCE & ENGINEERING
5:15 CLOSING REMARKS & DAY 1 CONCLUSION
6:15 CONTINUED NETWORKING: FACILITATED GROUP DINNERS
With the immense value in peer-to-peer experience sharing, we wish to provide attendees with an opportunity to contin¬ue networking after the first day of the conference. Q1 Productions will arrange dinner reservations at local restaurants close to the conference hotel for those interested in joining a group of fellow participants on Tuesday January 29th. Please note that dinner expenses must be covered by each participant individually.