HFHS Global Technology Development
Henry Ford Health System, one of the nation’s leading comprehensive, integrated health systems, recognized for clinical excellence and innovation, is pursuing opportunities to bring its medical expertise and innovative tools, technologies and practices to the international community, and to adapt promising foreign innovations to the U.S. market.
The Henry Ford Innovation Institute (“HFI”) maintains a world-class Innovations Program to translate leading edge discoveries into clinical use through best practices in such areas as product development, technology commercialization, venture funding, and corporate engagement. The Global Technology Development Program (“Program”), housed within HFI, is looking to build synergistic health care technology business opportunities between the Henry Ford Health System and growth stage health care companies in the United States, and health care innovation regions around the globe.
The Program aims to:
- Leverage the System’s considerable expertise and clinical assets to bring transformative, sustainable health care improvement to populations regionally, nationally and around the globe;
- Provide a new platform to accelerate development and commercialization of viable health care technologies for US and global markets; and
- Participate in the revitalization of Southeast Michigan’s economy through health care technology business opportunities based upon adapting promising innovations.
There are numerous clusters of innovation activity beyond the United States. For example, the State of Israel has innovated in global technology development and continues to lead in critical growth sectors that include healthcare information technology and analytics. India also has an expanding innovative culture based on “frugal” or inexpensive innovation. Some of these novel concepts may be appropriate for integration into a US healthcare system that is constantly evolving.
Though innovation occurs around the globe, it is difficult for development-stage enterprises outside of the U.S. to address market opportunities in the United States due to a relative lack of: (a) understanding of market dynamics; (b) existing relationships; and (c) regulatory and quality requirements knowledge.
The primary objective of the Global Technology Development Program is to aid innovative companies to advance technologies into a sector that is large, but complicated by distributed buyer power and regulation.
The Global Technology Development Program uses a three-phased approach:
Global Enterprise Engagement
We work with key organizations and technology centers globally to identify high potential healthcare enterprises that can benefit from working with HFHS to improve product adoption and U.S. market penetration. Companies are selected to enter the Program based on their technology, capacity, market and fit with the HFHS mission, vision and values.
Companies selected into the Program focus on the complex transition between product development and a demonstrable value-based product offering. Under appropriate fair market conditions, they may obtain access to U.S. clinical infrastructure, development resources and, at times, investment capital opportunities.
- Clinical Access – Selected companies may obtain access to select clinicians and healthcare purchase/payment decision-makers. The intent of this interaction is to facilitate a product design that meets the quality, efficacy and economic parameters of healthcare in the U.S.
- Use Validation - We identify clinical and administrative resources to consult with the company to establish testing protocols designed to address clinical and market adoption. For example, working with the Health Alliance Plan (HAP), the System’s owned insurance plan, provides immediate insight to the factors insurers use in determining if a given clinical intervention will be covered. Through such resources, companies may better navigate pricing constraints, paths-to-market adoption, and ultimate product profitability.
Market Introduction and Investment Support
For licensee companies in which HFHS has taken equity, its personnel may take a board position or otherwise assist with:
- Market Introduction –milestone-driven plans that assist portfolio companies in achieving early-stage development goals required by future customers and/or investors. These include identifying the business’ go-to-market pathway, working on product refinement, identifying and receiving rapid feedback from potential customers, and connecting them with seasoned experts to bring their products to market.
- Investment Support – financing for promising proof-of-concept and validation activities including venture capital financing rounds requisite for product launch or formal clinical evaluation.
Privately held high potential growth-stage firms in the healthcare sector that are designing or developing a product or service aimed at U.S. market entry in all classes of healthcare products, including biotech, pharma, medical devices and imaging.
Global healthcare companies, including domestic companies with innovative products and ideas, can also apply.
Terms and Conditions
Read the full terms and conditions.
It is anticipated that HFHS will receive consideration (in the form of either equity, royalties, and/or fees) in return for its intellectual property contributions to companies that participate in the Program.
Apply to the Program
Applications are accepted for consideration on a rolling basis using our application form.