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    Case Study Newland Medical Technologies

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    Abanise Orojo
    Sarah Foster created a medical device called the Stone Removal Stent (SRS) to remove kidney stones. She sought funding to bring the SRS to market, conducting pre-FDA trials that revealed design flaws she did not address. Sarah focused on obtaining investors and money rather than understanding customers and the medical field. To balance personal and professional goals, Sarah should build a team of specialists to manage aspects of the business so she does not have to choose between being a mother or running her company.

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    Case Study Newland Medical Technologies

    Uploaded by

    Abanise Orojo
    65 views5 pages
    Sarah Foster created a medical device called the Stone Removal Stent (SRS) to remove kidney stones. She sought funding to bring the SRS to market, conducting pre-FDA trials that revealed design flaws she did not address. Sarah focused on obtaining investors and money rather than understanding customers and the medical field. To balance personal and professional goals, Sarah should build a team of specialists to manage aspects of the business so she does not have to choose between being a mother or running her company.

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    Sarah Foster created a medical device called the Stone Removal Stent (SRS) to remove kidney stones. She sought funding to bring the SRS to market, conducting pre-FDA trials that revealed design flaws she did not address. Sarah focused on obtaining investors and money rather than understanding customers and the medical field. To balance personal and professional goals, Sarah should build a team of specialists to manage aspects of the business so she does not have to choose between being a mother or running her company.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    65 views5 pages

    Case Study Newland Medical Technologies

    Uploaded by

    Abanise Orojo
    Sarah Foster created a medical device called the Stone Removal Stent (SRS) to remove kidney stones. She sought funding to bring the SRS to market, conducting pre-FDA trials that revealed design flaws she did not address. Sarah focused on obtaining investors and money rather than understanding customers and the medical field. To balance personal and professional goals, Sarah should build a team of specialists to manage aspects of the business so she does not have to choose between being a mother or running her company.

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    You are on page 1of 5

    Running head: NEWLAND MEDICAL TECHNOLOGIES 1

    Newland Medical Technologies

    Abanisenioluwa Kolawole Orojo

    Webster University
    NEWLAND MEDICAL TECHNOLOGIES 2

    Newland Medical Technologies

    Question #1

    Describe the process that Sarah used to bring her medical device to market.

    Sarah Foster, fellow benefactor and President of Newland Medical Technologies, created

    the Stone Removal Stent (SRS) alongside Dr. Grainer. The idea of the SRS was to expel stones

    from a patients' ureter directly. When the patent was created, Sarah contemplated her objective

    clients would be urologists and therapeutic focuses and started the way toward advertising her

    gadget. After completing the marketable strategy, Sarah invested most of her energy looking for

    funding to bring the SRS gadget to market. A Rhode Island improvement establishment

    consented to set up $65,000, up to 20 percent was spent legitimately in Rhode Island. The

    establishment additionally consented to make the gadget under one rooftop, which to Sarah

    appeared to be a straightforward one stop arrangement.

    During the pre-FDA (Federal Drug Administration) endorsement preliminaries. Sarah

    understood that there were configuration defects in the stent. When the stent functioned true to

    form in 15 recurrent clinical preliminaries in succession Sarah accepted the structure was

    impeccable and pushed ahead with her field-tested strategy, looking for endorsement and

    speculators. Sarah herself concedes, if she had addressed more urologists during the preliminary

    stage the plan could have been endorsed and taken a shot at before pushing ahead.

    During her investor search. She takes the first or what she finds without regarding the

    foundation reference. She considers cash instead of understanding, contacts & information. The

    financial specialists who can bring the most knowledge, know-how, and contacts to the

    endeavor, and along these lines include the best esteem, will uncover themselves also. The most

    profitable speculators will see shortcomings, even defects, in how the market is seen, the

    innovation or administration, the systems, the proposed size and structure of the financing, and
    NEWLAND MEDICAL TECHNOLOGIES 3

    the group and will propose techniques and individuals to address these. Sarah miss this point and

    wanted to keep running for the cash.

    At long last, she didn't manufacture an arrangement to draw in clients, she was

    considering her extraordinary thoughts as opposed to her need to get client and make business.

    Business visionaries don't need to overlook than a thought itself don't make benefit, it's the

    means by which you intend to sell this thought made benefit.

    Question #2

    After you examine this company's strategy what is your recommendation? Explain.

    Newland strategy was to sell her item: the SRS. The objective client was the urologist

    and the restorative focuses. The fundamental contenders were the individuals who had a main

    market

    share in bushel recovery and ureteral stent gadgets, however she builds up the suspicion

    that each stent challenger can be a merchant for her item. The central matter was to offer a

    proficient item which cost less than its counterpart device. So she needs to enter the market with

    a troublesome development which granted to each clinic a therapeutic answer for evacuate

    kidney stone.

    On the off chance that we think about the hypothesis of Moore about intersecting the gap,

    we can contend that Sarah encourage get one early adopter since Boston-based Taylor Medical

    Supply consented to test SRS in few of their real showcase in USA. In any case, Moore contend

    that to cross the abyss and go to the standard market you need to discover smaller scale specialty

    market.

    So my suggestion for pushing organization ahead will be: Find specialty market on the standard

    one: market division; In every specialty market find huge influencer that can advertise your item,
    NEWLAND MEDICAL TECHNOLOGIES 4

    and impact the other potential client; Build a procedure to progress toward becoming pioneer in

    every specialty market.

    Question #3

    How can Sarah balance her personal and professional goals?

    Her own goal is to fabricate a family and take care of her future child. Her expert target is

    to “building an innovative medical device enterprise”. So she is confronted with an issue by

    picking between her mom life or her specialist life, realizing that it will be hard to make the two

    simultaneously.

    The least difficult method for overseeing both is allocation. She needs to fabricate a

    group of specialists in each domain she is dealing in. The best business visionary, for example,

    Mark Zuckerberg accumulate specialist in area that he can deal with or in space in which isn't

    master himself. It very well may be expensive toward the start however if you see her estimating

    fiscal summary, this issue can be undercover by the future procuring. For this situation she

    should settle on the critical choices since she doesn’t need to free authority over her business, yet

    she will be guided by specialist and can allocate pieces of her work. Moreover, specialist will be

    more progressively productive since they understand the business better.


    NEWLAND MEDICAL TECHNOLOGIES 5

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