12:00 - 12:20 pmSunday, September 7
Plenary Hall
How to foster transformational medtech innovation that provides economic value
Plenary Hall
How to foster transformational medtech innovation that provides economic value
Divisional Vice President of Global Product Development, Abbott Vascular
Historically, the medical technology (medtech) industry has focused on developing breakthrough innovations that were widely used and improved health outcomes based on clinicians’ needs. However, given... Read more

Description

Historically, the medical technology (medtech) industry has focused on developing breakthrough innovations that were widely used and improved health outcomes based on clinicians’ needs. However, given the emerging changes in the global healthcare industry, medtech companies must now prioritize and substantiate the economic value of their technologies to stay relevant and competitive in an ever-changing healthcare landscape as stakeholders become more conscious of the overall burden of healthcare on the global economy.  

In this rapidly evolving healthcare environment, how does the medtech industry foster transformational innovation that also provides economic value? As head of global product development in Abbott's multi-billion dollar vascular business, headquartered in Silicon Valley, Jamey Jacobs will address this monumental shift in the industry and how established medtech companies must evolve with the changing times, especially as more medtech start-ups and non-traditional entrants to the healthcare space vie to stake a claim in the new healthcare environment. He will discuss different models of R&D and their benefits and drawbacks in fostering the development of innovative technologies. These include the in-house R&D model; the buy and develop model; the incubator model; and the academic partnership model.  Using Abbott as a case study, and based on his extensive experience, Jamey will provide real-world examples of how and why the company used these models, highlighting the strengths and challenges and what this means for the industry. 

Jamey will propose solutions to ensure that medtech innovation continues to flourish, despite the changing environment. These solutions must simultaneously meet the economic and clinical needs of new stakeholders that include hospital leaders, payors, government entities, and patients, in addition to the traditional, and still influential, base of physicians. For real innovation to occur, Mr. Jacobs will argue, the medtech industry will need to be more broadly aware of the total cost-benefit to the healthcare system, while being more nimble, creative, and open to new partnerships across a variety of sectors.

Jamey Jacobs is divisional vice president of global product development at Abbott Vascular in Santa Clara, CA. He has more than 25 years of experience in the cardiovascular field, with expertise in research engineering, development engineering, marketing, sales, and innovative product development. Abbott ranked No. 1 in the medical products and equipment category on Fortune's 2014 World’s Most Admired Companies list.

As the head of global R&D for Abbott's multi-billion dollar vascular business, headquartered in Silicon Valley, Jamey has led the development, marketing, and commercial launch of game-changing medical technologies, including the world's first commercially available drug-eluting bioresorbable vascular scaffold (BVS), a temporary stent that dissolves over time after opening up blocked coronary arteries. Abbott's BVS technology received top honors in The Wall Street Journal's 2011 Technology Innovation Awards, in the medical devices category, and a 2012 Edison Award, with gold honors, in the science and medical/surgical aids category. In 2013, the technology was honored with an R&D 100 Editor's Choice Award.

Jamey pioneered the development of many generations of the world's leading coronary bare metal stents, drug-eluting stents, market-leading guide wires that access the vascular anatomy, balloon dilatation catheters that restore blood flow in blocked vessels, and automatic drug titration systems for cardiovascular surgery patients. He is a frequent expert panelist and guest lecturer in Stanford University's Biodesign program and is a member of the Abbott Scientific Governing Board, which aims to create a strong scientific community across the company, with a focus on innovation through collaboration.

Previously at Abbott Vascular, Jamey held executive leadership positions, including vice president and general manager of the structural heart business focused on repairing the mitral valve with minimally invasive devices; head of coronary stent programs; and vice president overseeing Abbott's major strategic alliances. Prior to joining Abbott, he served in senior roles at Guidant, Advanced Cardiovascular Systems, and IVAC Corporation.

Jamey earned a bachelor's degree in systems science engineering from the University of California, San Diego.

Contact Us

We're not around right now. But you can send us an email and we'll get back to you, asap.

Not readable? Change text. captcha txt

Start typing and press Enter to search