Nir Chausho: How Can Medical Device Entrepreneurs Transform Their Ideas Into Viable Products?
Innovative Israeli entrepreneurs and start-ups in the field of medical devices rely on experts who can provide the necessary support throughout the challenging process of developing and then manufacturing and distributing new products for the healthcare market. Nir Chausho, the COO of Chaban Medical, shares the best strategies for turning excellent ideas into profitable ventures.
Entrepreneurs typically turn to multiple subcontractors: one for development, another for regulation, a third one for validation and others for design, first series production, mass production and so on. If the company successfully completes all these stages, it will finally need distributors and marketing experts to introduce the product into different markets. This is all very expensive and time-consuming.
Chaban Medical is a one-stop-shop that provides turnkey solutions for start-ups interested in developing and launching new products for the medical industry. COO Nir Chausho explains: “We are experts at providing all of these services. We assist our clients from the earliest stages and up until the new product is being sold in markets around the world. Thanks to our ability to offer turnkey solutions – which include the entire spectrum of development, manufacturing and distribution – our clients save costs and enjoy much faster time-to-market.”
Chaban Medical has been active in this field since 2003, providing development and production services for medical device start-up companies. With a team of topnotch engineers, and experts in regulation and production, they are capable of providing all the needed support from the development stage through mass production. Chaban also markets and distributes its own products as well as its clients’ products in several markets worldwide. Today, the company is highly active in the US, UK, Germany, Eastern Europe, parts of Asia and parts of Africa.
Indeed, one of the largest obstacles when launching new products is the difficulty in finding capable distributors in different markets. The problem is especially acute in the medical field, since there are demanding regulatory requirements in each country, which makes it even more complicated and expensive. “Chaban Medical’s regulation team applies for the needed approvals whether by itself (AMAR approval) or through Chaban’s distributors or regulation agents in the territories,” explains Chausho.
Moreover, Chaban Medical has so far invested in two start-ups through its accelerator program and both have already begun selling their innovations – one in the field of dermatology and one in the field of rehabilitation for patients with neurological problems. Their accelerator gives start-ups access to cutting-edge facilities, including labs and a clean room.
“Israelis have many amazing ideas for innovations that can impact the healthcare industry and, indeed, global health. Chaban Medical enables these entrepreneurs to reduce the investment’s risk, time to market, needed budget and, most importantly, ROI (return on investment),” Chausho concludes.
In cooperation with Nir Chausho
