Tag Archive: product design development

  1. Medical Device Development Assistance and Manufacturing Incubators

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    The medical care industry is rapidly expanding due to the largest segment of the population aging and requiring medical assistance.  This has led to many companies working on developing new medical devices that will improve care and allow patients to get the treatment they need at reasonable and affordable prices.  Developing these new medical devices can be very expensive though, so manufacturing incubators and development centers backed by investors and venture capitalists have formed to assist in the process.

    Who is helping?

    For companies who are working on new innovative medical devices, there are many options available to get assistance for funding and product development.  Manufacturing incubators are one option for help.  These incubators can provide the cash and expertise to manage the process of developing and releasing new medical devices.  By working with these incubator groups, costly mistakes in development can be avoided as they have the experience in getting new medical device hardware to market.  One example is Bolt, a venture capital firm and manufacture incubator that is designed to help medical device startups with their early stage hardware and software development.

    Another option is working with a university development center.  One such development center is M2D2 – the Massachusetts Medical Device Development Center which is an UMass Lowell-UMass Worcester initiative that works with medical device developers to move medical device ideas from patent to production.  By working with M2D2 companies and entrepreneurs get access to state-of- the-art facilities and equipment that they may normally not be able to use.  They also provide access to experienced staffers who can provide guidance in prototyping and product development, and business feasibility among other areas.

    EnterpriseWorks is another university owned development center operated by the University of Illinois to help launch startup companies.  Its clients have been based in the biotechnology, chemical sciences, software development and materials sciences industries.  With a 43,000 SF incubator facility with labs, offices and common space, all the needs of startup entrepreneurs can be met.

    Northeastern University also has a student-led venture accelerator called IDEA that supports entrepreneurs in the Northeastern community.  Resources available include gap and prototype funding, as well as support from an entrepreneur in residence, and an investor network who are available to advise and finance ventures.  Clients they work with are from a variety of industries including software, food and beverage, and consumer products among many others.

    Techprint and Medical Device OEMS

    At Techprint we work with OEMS in the medical device market.  Medical device customers account for almost half of our business, giving us the experience and capabilities to provide custom products for all OEMS, both new startups and established manufacturers.  We have the in-house manufacturing equipment capable of building prototypes and all of the equipment for full-scale production.  From product concept development through the entire product lifecycle, we can provide the assistance you need to make it a success.  Contact us here for more information on the high quality products we can provide and the services we offer.

  2. What Does the Suspension of the Medical Device Tax Mean for the Industry?

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    The Patient Protection and Affordable Care Act implemented in 2013 included a medical device excise tax which imposed a 2.3% tax on domestic sales of medical devices. The tax, paid for by the manufacturers or importers, was expected to generate billions of dollars to support healthcare but the revenues fell short and the tax took its toll on manufacturers and the industry.
    tax
    The tax was suspended in December with the signing of the Consolidated Appropriations Act 2016 and a 2-year moratorium on the tax is in effect from January 1, 2016 to December 31, 2017. Now that the tax is on hold, how will the industry react?
    Research and consulting firm GlobalData took a look at this and believes that small and mid-sized companies will benefit greatly from the suspension. The tax was very costly to smaller companies who cut research and development efforts, laid off workers, and reduced plans for expansion. Funds companies would have invested into product development and innovation were redirected to pay the tax.
    Now that this issue is on hold, the industry is already seeing investments being put back into product portfolios and building businesses back up to pre-tax levels. Medical device companies in all sectors are looking to hire new workers to fill newly created jobs.
    The money manufacturers would have paid to the tax is now an investment in adding jobs, improving product research, and increasing sales. With additional money being directed to Research & Development, the industry and the consumer benefit. To develop life-saving medical technologies, companies require operating revenue to grow and advance new technologies.
    The positive reaction from industry leaders and government officials may lead to a permanent repeal of the tax once the suspension period is over. With additional funds available, we can expect to see medical device companies returning to the business of innovation and technological advancements that benefit us all. At Techprint, we are looking to take advantage of this by providing custom products for OEMS in the medical device market. Medical device customers account for 40% of our business so we are glad to see this tax suspended for our customers. Take a look at our website for our full capabilities.

  3. HMI: It’s technical, and why it’s so important

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    Human Machine Interface (HMI) systems is an important technology right now, and that is especially true for medical devices. With rising healthcare costs and an increasing need for affordable, easy to use medical devices, HMI for medical equipment is becoming an ever-important trend in product design development.
    Simply put, HMI systems provide the controls that allow a user to operate a machine or instrument. When done well, they create easy, reliable accessibility and make the function of technology simple and effective. According to this article in Product Design & Development, “the effectiveness of the HMI can affect the acceptance of the entire system; in fact in many applications it can impact the overall success or failure of a product.” Designing a good HMI system entails understanding the needs of everyone who will use it, knowing the key functional requirements, and integrating the best equipment and technology.
    These days, our customers are coming to us for full design and manufacturing services, looking for a one-stop solution, and one of the many services we provide our customers with is custom design of keyboard interface devices, using HMI. This may include a touchpad, a tactile switch or any number of other unique key input technologies. We design LED back-lighting solutions to provide visual feedback to the input device. We first listen to our customer’s application requirements and then with our experience we can help recommend the correct technology. We are a supplier of EAO Switch, a leading provider of HMI products, for our custom keyboard products.
    With our 40 years of knowledge and in-house engineering services, our capabilities include prototyping, 3D modeling, concept development as well as full production manufacturing. We also work as a UL agent for our clients requiring UL approval. Our emphasis on the latest technology and innovations, including HMI, means new product development for our customers is reliable, cutting edge and modern, making their products not only of the highest quality, but highly competitive and forward thinking.