Throughout the period when medical invention and technological innovation have been needed more than ever, the CCR Medtech sector have risen to the challenge and done us proud.
The Covid-19 pandemic has been the greatest national emergency in recent times and the Medtech sector has responded with consummate pace, agility and ingenuity. Life Sciences Hub Wales and MediWales issued successful appeals to companies to help supply the NHS with the vital supplies needed to aid our already strained Health Service. PPE was made by companies that would normally be working in other sectors and distilleries were manufacturing sanitisers. South East Wales has been a hotbed for innovation and ingenuity. We have Intelligent Ultrasound, Creo Medical, The Centre for Batch Manufacturing and many more working on everything from Endoscope technology to 3D printed titanium bone replacements along with some incredible universities with top students ready to step into this exciting, priority sector.
The Cardiff Capital Region has over 200 businesses working in medical diagnostics and devices and many of these businesses have played a key part in helping our region tackle the Covid-19 pandemic. Companies like Bond Healthcare, Renishaw and Creo Medical have played a huge part in boosting our economy and playing their part in helping us through what has been a testing few months, not only for our region but for the world. The Medtech sector is currently one of the fastest growing in the Cardiff Capital Region with its 200 plus companies, most of which are SME’s, employing approx. 8,000 people with a combined turnaround of £1.5 billion.
Recent Medtech Successes in the Region
Williams Medical Supplies operating out of Rhymney have entered a partnership with DarioHealth to make a Remote Patient Monitoring (RPM) digital therapeutics platform available to Healthcare Professionals across the United Kingdom and Ireland. This will allow Healthcare Professionals to monitor their patients remotely. Dario’s digital solution is intended to provide relief for primary and secondary care providers challenged by the Covid-19 pandemic and facing potential serious winter pressures in the healthcare system. It is believed that equipping practitioners to proactively treat, monitor and manage patients with long-term conditions within the community will ultimately result in a reduction of the ongoing pressure on general practitioners, emergency departments, and in-patient services.
Caerphilly-based Medtech firm Signum Health have reported a six-fold increase in the number of contract wins compared to pre-Covid numbers. Demand for digital diagnostics and social prescribing services by healthcare providers has significantly increased since the pandemic and the Caerphilly-based company is one of a handful helping healthcare providers UK-wide make the move to online service delivery, and has seen its technology and services more in demand than ever.
Another success story for the sector in our region has been Forth, a Chepstow-based medical health care company who were revealed as a finalist in two Wales Start Up awards categories – Med Tech start up and Digital start up. Over this past year Forth has enjoyed significant growth with a successful £500,000 investment raise with Development Bank of Wales, Best Welsh Innovation accolade and the introduction of new products including the Covid-19 antibody test. Forth is currently undertaking a national survey to assess how Covid-19 has impacted on mental health and is gearing up to launch a menopause campaign providing access to all women to test for perimenopause and menopause without needing to go to their local GP. A true success story of the Cardiff Capital Region.
Also in the Cardiff Capital Region Cwm Taf Morgannwg University Health Board has launched its Welsh and English-speaking virtual assistant called CERi, developed using IBM’s Watson Assistant. The Health Board has worked with IBM and Meridian IT to develop the virtual assistant to support patients, healthcare workers and the general public by answering questions and to provide information on the prevention and management of COVID-19. The many challenges posed by Covid-19 have only highlighted the necessity along with the success stories within Medtech in our region.
Finally, within the last month there have been big steps taken in advancing the sector as a Wales-based immersive technology in healthcare pioneer, Rescape Innovation, has hit its £300k target through Crowdcube to help the company expand its proven use of virtual reality in the treatment of patients and to help frontline NHS staff.
A Priority Sector
Medtech is a priority sector for the Cardiff Capital Region because it is one of the fastest growing and its potential for further growth is considered to be substantial.
Additionally, one of our post covid-19 regional 10 priorities is accelerating the development of our Medtech cluster through encouraging and supporting investment opportunities in Medtech innovation. This will allow us to build on the strategic opportunities for the sector and the region. To date the CCR have given in principle approval for £120k to progress a proposal to develop a Life Sciences Innovation Park at Coryton, £40k to progress a potential £4m investment for a CCR Healthcare Data company and have awarded £2m to Creo Medical for the development of Cool Plasma technology. Undoubtedly there will be more to come.
Covid-19 has accentuated the importance of the sector and our companies have stepped up to the plate and embraced the pace and scale of change and the opportunities for innovation and growth.
We now have to continue to fill the sector with graduates who are ready to step in to this new and exciting sector and continue to help it grow into something even bigger and better.
Providing a Helping Hand to Recruit Fresh Talent
If you are in the med tech sector and your business is expanding or adapting and you need some additional help with recruiting quality graduates then we can help you.
Our Cardiff Capital Region Graduate Scheme aims to enhance productivity, innovation and economic growth by linking talented graduates with ambitious businesses in the ten local authorities within the Cardiff Capital Region.
We offer businesses the following FREE services:
- We can directly match your role with highly-skilled graduate talent in the region
- We can operate a quick turnaround to respond to your needs (between 2-4 weeks)
- We can undertake the entire recruitment process remotely: advertising, shortlisting, assessment and interviewing*
- Candidates are asked to provide CVs as part of streamlined process
- We have worked with businesses across the region to provide roles in engineering, laboratories, marketing, HR, finance, IT and business development. Average salary £18k – £25k.
- A fully-funded qualification for graduates to support and complement their professional skills development in the workplace.
For more information on the benefits of the programme take a look at our dedicated landing pages for companies within the Medical, Manufacturing and Technology industries.
LIFE SCIENCES: http://www.ccrgraduatescheme.wales/life-sciences/