08 Newland Medical Technologies
Business Opportunity Management Group #2
Case Summary
The case is about Newland Medical Technologies, founded by Sarah Foster She found a niche in medical equipment market, in the form of a requirement of better Stent in Urology. She developed a product named SRS (Stone removal Stent) after rigorous brainstorming with her friend. The case talks about various barriers faced during the business plan development and its execution by her.
Sarah Foster was a J&J employee working with hip implant design. When her division moved from Boston, she left the job. She found an opportunity for Stents in urology. In 1999 Foster and doctor Grainer started Brainstorming a sheath covered Stent.
During 2000-2001, they developed a Stent with a series of expansion bulbs along with its length, they named it SRS. 2001, she got patented her product and In gained FDA approval as well.
Two main customers are urologists and medical centers. Urologists determined the procedure and which device would be used. Purchasing of hospital is influenced by Center for Medicare and by Medicaid Services In the internet age, patients were becoming strong influencers.
Main competitors of SRS is market leaders in basket retrieval and ureteral stent devices. Revenue leader Boston Scientific had made many acquisitions. Unit leader ACMI was under restructuring and a change of leadership. Dornier MedTech and Siemens Medical Systems might have an early-stage interest in SRS as it worked with ESWL. In a sense, every stent competitor was a potential distributor or R&D partner.
In summer 2001, she completed business plan and named her company as “Newland Medical Technologies”. first phase she raised $600,000 from her In friends family, Dr. Grainer and her own savings. One third of this capital was exhausted in Patenting the product and other legal works. In 2002, she accepted into MBA at F.W
Case Summary
The case is about Newland Medical Technologies, founded by Sarah Foster She found a niche in medical equipment market, in the form of a requirement of better Stent in Urology. She developed a product named SRS (Stone removal Stent) after rigorous brainstorming with her friend. The case talks about various barriers faced during the business plan development and its execution by her.
Sarah Foster was a J&J employee working with hip implant design. When her division moved from Boston, she left the job. She found an opportunity for Stents in urology. In 1999 Foster and doctor Grainer started Brainstorming a sheath covered Stent.
During 2000-2001, they developed a Stent with a series of expansion bulbs along with its length, they named it SRS. 2001, she got patented her product and In gained FDA approval as well.
Two main customers are urologists and medical centers. Urologists determined the procedure and which device would be used. Purchasing of hospital is influenced by Center for Medicare and by Medicaid Services In the internet age, patients were becoming strong influencers.
Main competitors of SRS is market leaders in basket retrieval and ureteral stent devices. Revenue leader Boston Scientific had made many acquisitions. Unit leader ACMI was under restructuring and a change of leadership. Dornier MedTech and Siemens Medical Systems might have an early-stage interest in SRS as it worked with ESWL. In a sense, every stent competitor was a potential distributor or R&D partner.
In summer 2001, she completed business plan and named her company as “Newland Medical Technologies”. first phase she raised $600,000 from her In friends family, Dr. Grainer and her own savings. One third of this capital was exhausted in Patenting the product and other legal works. In 2002, she accepted into MBA at F.W