South Australian medical device manufacturers will form an alliance to commmericalise the state’s medical device resources and to find new international markets.
The MedDev Alliance will be sponsored by a $750,000 State Government investment and will include manufacturers focused on the development of medical devices, led by market-leading companies such as Ellex and Austofix.
Manufacturing and Innovation Minister Kyam Maher said the funding will be provided over a three year period and will boost the state’s presence in the globally growing sector.
“The ageing population in Australia and many other countries is resulting in increased demand for medical devices that will improve the quality of life for people as they age,” he said.
“While Australia has a relatively small share of the international medical devices market, we are renowned for specialisation in medical device inventions.”
He said South Australia had a global specialisation in ophthalmic (eye) laser and imaging technology, with Ellex successfully utilising research from the University of South Australia.
“It therefore makes sense for the State Government to support a sector where we have a competitive advantage, where our capability in developing and commercialising medical devices is growing, and where we can maximise the economic opportunities for the state,” the Minister added.
“This is a great opportunity to develop closer links in the medical device industry to enable manufacturers to find new domestic and global markets, and to boost their profitability. It also presents a great opportunity to increase the availability of skilled jobs in South Australia, as well as promoting the state as a centre of excellence to domestic and international markets.”
According to him, the first year of the Alliance will focus on analysing the domestic and international markets to identify opportunities for South Australian medical device manufacturers.
“Research will also be undertaken to identify those medical device companies that are interested in collaborating, and have the potential to increase their export growth,” Mr Maher said.
“The Alliance will also develop an Intellectual Property framework to ensure companies within the Alliance are protected.”