Project Medtech Company Profile

Background

Founded in 2020, Project Medtech is a consulting and advisory firm dedicated to accelerating medical technology innovations to improve patient lives. The company focuses on supporting startups and developing companies in the Medtech sector, including medical devices, diagnostics, wearables, digital health, health IT, drug delivery systems, and software as a medical device (SaMD). Project Medtech's mission is to foster innovation, expedite the journey of medical technologies to market, and ultimately enhance healthcare outcomes.

Key Strategic Focus

Project Medtech specializes in providing end-to-end services tailored to the unique needs of Medtech startups and developing companies. Their core objectives include:

Consulting Services: Offering expertise in strategic finance, operations, corporate strategy, fractional HR, talent recruitment, commercial support, and investment strategy.

Educational Initiatives: Producing original podcast series such as "Project Medtech" and "Medtech Money," which share insights from industry leaders, discuss trends, and provide advice to entrepreneurs.

Events: Hosting virtual and in-person events to connect Medtech professionals, facilitate networking, and provide educational opportunities.

By integrating these services, Project Medtech aims to be a comprehensive resource for Medtech startups, guiding them from inception to market success.

Financials and Funding

As a privately held consulting and advisory firm, Project Medtech's financial details, including funding history and revenue, are not publicly disclosed. The company operates on a service-based revenue model, offering consulting services, producing educational content, and organizing events tailored to the Medtech industry.

Pipeline Development

Project Medtech does not develop its own medical technologies but plays a pivotal role in supporting the development pipelines of its clients. The company assists startups in navigating the complex processes of product development, regulatory approval, and market entry. By providing strategic guidance and operational support, Project Medtech helps clients achieve critical milestones and bring innovative medical technologies to market efficiently.

Technological Platform and Innovation

While Project Medtech does not possess proprietary technologies, its value lies in its comprehensive understanding of the Medtech landscape and its ability to apply this knowledge to client projects. The firm's innovative approach includes:

Fractional Resource Model: Offering flexible, on-demand expertise in areas such as finance, operations, and commercial strategy, allowing startups to access high-level support without the need for full-time hires.

Integrated Service Offering: Combining consulting services with educational content and networking events to provide a holistic support system for Medtech startups.

This approach enables Project Medtech to adapt to the evolving needs of its clients and the broader Medtech industry.

Leadership Team

Project Medtech's leadership team comprises experienced professionals with diverse backgrounds in the Medtech sector:

Duane Mancini: Co-Founder & Chief Executive Officer. Duane has a background in medical device sales and business development, bringing extensive industry knowledge to the company.

Rich Mazzola: Co-Founder & Chief Financial Officer. Rich's expertise lies in strategic finance and operations, contributing to the firm's financial planning and management.

Aaron TenHuisen: Co-Founder & Chief Operating Officer. Aaron focuses on operational strategy and execution, ensuring the firm's services are delivered effectively.

Jamie Easterling: Chief Commercial Officer. Jamie leads the commercial strategy, driving business development and client engagement initiatives.

This team collectively brings a wealth of experience and a shared commitment to advancing medical technology innovations.

Leadership Changes

In 2022, the co-founders transitioned to full-time roles within the company:

Duane Mancini: Moved to full-time CEO in January 2022.

Rich Mazzola: Assumed the full-time CFO role in August 2022.

Aaron TenHuisen: Became the full-time COO in September 2022.

These transitions marked a significant commitment to the company's growth and the expansion of its services.

Competitor Profile

Market Insights and Dynamics

The global Medtech industry is experiencing significant growth, with the market size reaching approximately $500 billion in 2023 and projected to grow at a CAGR of 5.4%, reaching $750 billion by 2030. This expansion is driven by advancements in artificial intelligence, robotics, digital therapeutics, and wearable devices.

Competitor Analysis

Project Medtech operates in a competitive landscape alongside other consulting and advisory firms specializing in the Medtech sector. Key competitors include:

MedTech Strategist: Provides market intelligence and strategic consulting services to Medtech companies.

Navigant Consulting: Offers management consulting services with a focus on healthcare and life sciences.

L.E.K. Consulting: Delivers strategic advisory services to healthcare and Medtech clients.

These firms offer similar services, but Project Medtech differentiates itself through its integrated approach, combining consulting, educational content, and networking events tailored specifically for startups.