ANZ Innovators Alimetry and The Clinician Among Five Winners In Medtronic APAC Innovation Challenge

Rhea-AI Summary

Medtronic Australasia has selected Alimetry and The Clinician as winners of the inaugural Medtronic APAC Innovation Challenge (MAIC). This challenge received over 320 applications from 46 countries, showcasing regional healthcare innovations. Winners gain collaboration opportunities with Medtronic, including funding for commercialization efforts valued at up to US$200,000. The initiative, launched in October 2021, aims to foster local innovations addressing healthcare challenges in the APAC region.

Positive

• Collaboration opportunities for winners with Medtronic valued up to US$200,000.
• Received over 320 applications from 46 countries, indicating strong interest in innovation.
• MAIC enhances Medtronic's commitment to fostering local healthcare technology advancements.

Negative

• None.

SYDNEY--(BUSINESS WIRE)-- Medtronic Australasia, a subsidiary of Medtronic plc (NYSE:MDT) — a global leader in healthcare technology — has announced that New Zealand digital health innovators Alimetry and The Clinician were among the five winners in the inaugural Medtronic APAC Innovation Challenge (MAIC).

Auckland-based Alimetry is a digital healthcare and medical device startup that develops breakthrough solutions for diagnosing disorders of gastrointestinal function.

“We’re very excited to win this competition. Thanks to Medtronic for the opportunity to participate in this innovation challenge. This one offers a superb launching pad to take our technology to patients throughout the APAC region,“ said Professor Greg O’ Grady, co-founder and CEO of Alimetry.

“The most valuable component for us was gaining access to Medtronic’s panel of advisors, who were excellent. They were extremely knowledgeable and provided us with creative advice on the go-to-market strategy in the APAC region.”

Also winning the challenge was digital health innovator, The Clinician, which supports healthcare organisations deliver better outcomes at a lower cost through timely exchange of patient-generated data and educational materials.

“We’re absolutely delighted to be chosen as one of the five companies to collaborate with Medtronic. I want to thank the team at Medtronic that supported us, including our sponsors, in really helping to hone that business case for the final pitch,” said Tamaryn Hankinson, co-founder and managing director, The Clinician.

All five winners from the challenge have the opportunity to collaborate with Medtronic to explore joint commercialisation of products and run commercial pilots for their proposed medtech or digital health product solutions, valued up to US$200,000.

“Congratulations to Alimetry and The Clinician for their achievement. These accolades are testament to the many healthcare technology innovations in ANZ and MAIC is an extension of our commitment to local innovation, that has the potential to go regional,” said Liz Carnabuci, Medtronic Australasia vice president and managing director.

“MAIC provides a unique opportunity for ANZ innovators like Alimetry and The Clinician to tap into Medtronic’s reach in APAC. At Medtronic we believe that no one company can solve the complex healthcare challenges that the world faces. As such, programs such as MAIC pave the way for collaborative innovations that can deliver impactful solutions unique to the region.”

MAIC was launched in October 2021 as an extension of Medtronic Open Innovation Platform – an initiative aligned to Medtronic’s bold new ambition to become the global leader in healthcare technology. Over 320 applications were received from 46 countries of which 10 companies were shortlisted to compete at a virtual challenge finale.

Winners were announced at the inaugural Medtronic APAC Innovation Conference held in Singapore on 16 March 2022. The conference also unveiled a whitepaper titled ‘Asia Pacific’s Healthcare Technologies Ecosystem: Enhancing Start-up and SME success’, written by the Economist Impact.

This first-ever study on the region’s healthcare technology sector involves inputs from 150 executives from startups and business enterprises in APAC. To read the full findings, download the whitepaper here.

About MAIC

The Medtronic APAC Innovation Challenge (MAIC) provides an opportunity for innovators in the region to pitch and advance their development of MedTech solutions. The challenge also provides an opportunity to partner with Medtronic for a commercial pilot on their proposed MedTech, digital health or solution, valued up to US$200,000.

MAIC is facilitated via the inaugural Medtronic Open Innovation Platform, an initiative launched by Medtronic with support from the Singapore Economic Development Board.

The platform will bring strategic collaboration in healthcare technologies among various stakeholders across the healthcare ecosystem through capability development, partnerships and business organisations networking in areas of medical technology and digital health in APAC, with Singapore as the epicentre.

Focusing on the unique healthcare needs of APAC, this first-of-its-kind platform will enable Medtronic to explore and advance partnership opportunities that can help Medtronic leverage data, AI, and automation to address patient needs.

About Alimetry

Alimetry was founded in 2019 as a spin-out company from the University of Auckland’s Bioengineering Institute and Faculty of Medical and Health Sciences. The company was founded on a background of world-leading science in gastrointestinal diseases. Alimetry is dedicated to improving the lives of patients by delivering innovative medical solutions to advance GI diagnostics and enable targeted therapies.

To learn more about Alimetry visit www.alimetry.com

About The Clinician

The Clinician is a digital health innovator redefining how healthcare is measured and delivered and is used by health systems globally to create streamlined digital care pathways and manage patient-generated health data. The Clinician enables care teams to monitor, engage and support patients along their entire healthcare journey while in the community. Interoperable with electronic medical record and practice management systems, The Clinician’s cloud-based ZEDOC platform sits between healthcare organisations and patients outside the walls of the health system, enabling automated outreach, collection and analysis of patient-reported health data as well as the integration of wearable/medical device data and the delivery of multimedia educational materials.

To learn more about The Clinician, visit www.theclinician.com/

About Medtronic

Bold thinking. Bolder actions. We are Medtronic. Medtronic plc, headquartered in Dublin, Ireland, is the leading global healthcare technology company that boldly attacks the most challenging health problems facing humanity by searching out and finding solutions. Our Mission — to alleviate pain, restore health, and extend life — unites a global team of 90,000+ passionate people across 150 countries. Our technologies and therapies treat 70 health conditions and include cardiac devices, cranial and spinal robotics, insulin pumps, surgical tools, patient monitoring systems, and more. Powered by our diverse knowledge, insatiable curiosity, and desire to help all those who need it, we deliver innovative technologies that transform the lives of two people every second, every hour, every day. Expect more from us as we empower insight-driven care, experiences that put people first, and better outcomes for all. In everything we do, we are engineering the extraordinary.

For more information on Medtronic Australia and New Zealand, visit www.Medtronic.com.au and follow @MedtronicANZ on Twitter and LinkedIn.

Any forward-looking statements are subject to risks and uncertainties such as those described in Medtronic's periodic reports on file with the Securities and Exchange Commission. Actual results may differ materially from anticipated results.

View source version on businesswire.com: https://www.businesswire.com/news/home/20220328005950/en/

Ryan Weispfenning

Investor Relations

+1-763-505-4626

Andre Varella

Public Relations

+61-459-404-011

Source: Medtronic

FAQ

What is the Medtronic APAC Innovation Challenge (MAIC)?

The MAIC is an initiative by Medtronic to support regional innovators in developing MedTech solutions and offers collaboration opportunities.

How many applications did Medtronic receive for the MAIC?

Medtronic received over 320 applications from 46 countries for the MAIC.

Who were the winners of the first MAIC?

The winners of the inaugural MAIC are Alimetry and The Clinician.

What is the funding opportunity for MAIC winners?

Winners can collaborate with Medtronic for commercialization efforts valued at up to US$200,000.

When was the inaugural Medtronic APAC Innovation Challenge announced?

The MAIC was launched in October 2021.