Coffee break with our partners:
Health Capital Helsinki is building the greatest health capital – and in doing that, collaborating with various impactful organisations. Meet our partners is an interview series introducing you to our Finnish and international partners. In this interview, Tim Damgaard Christensen, Kristina Jensen and Dave Olson tell us about MedTech Bridge.
When Nordic medtech and digital health companies are planning to enter the U.S markets, it’s vital for them to understand how healthcare is organised, managed and funded across the ocean. MedTech Bridge exists to connect Nordic medtech and digital health companies with the world’s largest health market, the U.S. MedTech Bridge has hubs and seasoned health business professionals currently located both in Copenhagen, Denmark, and Minneapolis, the U.S. Tim Damgaard Christensen, Kristina Jensen and Dave Olson work to offer connections and strategic and tactical advice and planning for companies seeking to enter the U.S. medtech market.Medtech Bridge also helps companies to navigate these wild waters by providing excellent webinars on topics such as reimbursement, regulatory strategy and market intelligence – and free of charge for all members. You can start by listening to the enclosed episode on reimbursement here.Interested in becoming a member? Sign up here!
What: MedTech Bridge serves as a catalyst for Nordic small to midsize enterprises (SMEs) and startups seeking to enter the U.S. medtech market. MedTech Bridge is perfectly positioned to serve as a fast-track connection to the #1 health tech cluster in the world, Minnesota’s Medical Alley.For who: Small to midsize enterprises (SMEs) and startups within medtech or digital health.
The quality of innovation developed in the Nordic region is very high.
Tim Damgaard Christensen
Tim has an engineering background, and a 20+ years long career in the MedTech industry within hardware and software development, project management, program management, and product development. Tim is based in the Danish hub in Copenhagen.tim@medtechbridge.org
Hello Tim, Kristina and Dave! Could you tell us more about MedTech Bridge?
Tim: I got introduced to the MedTech Bridge through my network and immediately found myself attracted to the value proposition, the team and the U.S.-based network. The biggest challenge for any Nordic health tech company – big or small – that wants to enter the U.S market, is awareness and understanding of how the U.S health tech market works, as this is very different from any country in the EU. At MedTech Bridge, we provide the most significant value when we demystify the U.S market entry, and make solid and concrete actions and connections in the U.S. for our member companies. When our members endorse our effort and show how MedTech Bridge has made a significant and real difference, we know we have done well.Kristina: We work with each member on their individual needs at any time to provide – as our slogan states – Faster. Wiser. US Entry through our connections and by providing strategic and tactical advice and planning.
What are the biggest challenges for Nordic health companies that want to enter the U.S market?
Dave: While understanding the regulatory requirements and gaining FDA approval is relatively straightforward, building a successful sales and reimbursement strategy requires more obscure knowledge and insight. The coordination of these three elements and starting earlier in the process with the funding necessary to do it properly, are certainly among the greatest challenges.Kristina: Getting your head around understanding the U.S. healthcare system – the regulations, the payment systems, decision making – which operates very differently compared to the Nordic healthcare systems. Raising enough capital early on to do all the proper work to build solid market-oriented strategies and documentation required.
Kristina Jensen
Kristina has 20+ years of executive leadership experience within Innovation management, R&D Marketing and Sales of medical devices and associated services in international settings. Kristina like Tim is based in the Danish hub in Copenhagen.
Dave Olson
Dave is an experienced MedTech executive and entrepreneur with broad knowledge of the Minnesota startup environment. He’s the founder of multiple early-stage initiatives, both free-standing and within greater MedTech organizations. Dave is an American based in Minneapolis and like many others in that area with Scandinavian ancestors.dave@medtechbridge.org
MedTech Bridge is perfectly positioned to serve as a fast-track connection to the #1 health tech cluster in the world, Minnesota’s Medical Alley.
What do we have in the Nordics that is especially valuable for the U.S?
Dave: The quality of innovation developed in the Nordic region is very high and the solutions are quite compelling. There are a lot of excellent programs that have high success potential. Our mission is to provide the guidance and connections necessary to help navigate and thrive in this hugely important market.Kristina: Thanks to our heritage in medtech combined with an innovative DNA, the Nordic medtech companies have a lot to offer and provide. Solutions developed in the Nordics that work with personal data seem to have a very strong foundation and advantage, thanks to the possibilities we have for that in the Nordics.
When do you feel you have really succeeded in your work?
Kristina: I am always thrilled when a company has gained new insights or made fruitful connections with a customer, service provider, investor etc. that have saved them time and enabled them to move on in their mission to better or more efficient healthcare.Dave: When we’ve helped advance the understanding our members have about how to best proceed on their journey, we’ve succeeded. We do this a lot and it’s very gratifying to see the growth of our members and their substantive forward progress. Health Capital Helsinki
