StepWise Medical, LLC, is a medical technology accelerator that was created to manage the critical steps in the development of medical devices, ranging from innovation to acquisition. The firm is capitalizing on two important industry trends:
- A demand by providers, patients, and medical device companies for new, innovative device-based solutions.
- The shortage of capital available for medical technology startups to develop products.
There is an abundance of promising nascent medical technologies available for development, but they are stalled because of a lack of expertise in product development or a lack of financing to support the development. The innovations come from a variety of sources, including physicians, universities, and medical centers. The firm is working with these sources to uncover attractive inventions that can become innovative products with the use of the StepWise Medical product development approach.
StepWise Medical will identify inventions in cardiovascular and vision care that can be innovative new products and then will develop these promising inventions into products that can be sold or licensed to large medical device companies for commercialization. StepWise Medical’s expertise includes understanding the commercial interest that device companies will have for the products that are being developed, ensuring that the resulting product will meet the needs of prospective acquirers.