March 23, 2025 • 22 mins
Medical Alley is a powerhouse in global healthcare innovation, connecting startups and Fortune 100 companies to transform healthcare solutions. Headquartered in Minnesota, it’s one of the world’s largest medtech clusters.
At the 2024 MedTech Conference in Canada, MTPConnect and Medical Alley renewed an MOU to strengthen collaboration and support for Australian medtech companies looking to expand internationally.
Now, Medical Alley is launching a game-changing online training program, Medical Alley Academy, designed to help innovators move into the US market - a great opportunity for Australian companies to tap into.
Joining Caroline Duell to talk about this exciting initiative are Medical Alley CEO Roberta (Bobbie) Dresson and MTPConnect CEO Stuart Dignam.
What’s in this episode?
· How Medical Alley is shaping the future of medtech
· The changing trends and challenges in the US medtech ecosystem
· All about Medical Alley’s new online Academy training
· Key opportunities for Australian medtech companies to expand to the U.S.
Tune in for expert insights and actionable advice for taking your medtech innovation global! 🎧✨
Mark as Played
Transcript
Episode Transcript
Available transcripts are automatically generated. Complete accuracy is not guaranteed.
Natalie Vella (00:01):
This is the MTP Connect podcast, connecting you
with the people behind thelife-saving innovations driving
Australia's growing lifesciences sector from bench to
bedside for better health andwellbeing.
Mtp Connect acknowledges thetraditional owners of country
that this podcast is recorded onand recognises that Aboriginal
(00:23):
and Torres Strait Islanderpeoples are Australia's first
storytellers and the holders offirst science knowledge.
Caroline Duell (00:33):
Hello and welcome to the podcast.
I'm Caroline Duell.
Medical Alley is a globalnetwork of healthcare
organisations on a mission todrive innovation and transform
healthcare solutions for peopleworldwide.
Headquartered in Minnesota,medical Alley is one of the
biggest medtech clusters in theworld, with members from
startups to Fortune 100companies, and at the 2024
(00:57):
Medtech Conference in Canada,mtp Connect signed an MOU with
Medical Alley in an ongoingcollaboration to support the
growth of medtech companiesbetween the two countries.
It's about providing commercialand collaboration opportunities
for Australian medtechinnovators and setting up some
networks.
Medical Alley is launching anonline training program which is
(01:20):
going to support Australianinnovators who are keen to
expand into the US market.
Here to tell us more about thatis their CEO, Roberta Dressen.
Also joining me on the podcastis MTP Connect's CEO, stuart
Dignam.
Great to have you on thepodcast today, Bobby, all the
way from Minnesota in theafternoon there in the US, and I
(01:45):
wanted to ask you really aboutwhat the Medical Alley
Association does with itsnetwork of hundreds of
healthcare organizations inMinnesota.
What do you do for thoseorganizations and what's your
mission?
Roberta Dressen (02:02):
Big question.
So our mission is to activateand to amplify healthcare
transformation, and if we aredoing a good job at that, we are
seen by our vision, which is tobe the epicenter of health
innovation and care, and thepiece that's really fun to tell
(02:23):
you about, as I described that,is that that was the vision
statement to be the epicenter 40years ago by our founder, earl
Bakken, and I would say and Ithink you all can relate to this
better than a lot of otherfolks we talked to because of
the cool work you're engaged inas well I would say that it has
never been more relevant thanbefore.
(02:44):
Between the entrepreneurs,we're seeing the global
interconnection companiespercolating up with just simple
ideas to complex ideas and theforces that are behind them,
like an MTP Connect or a medicalalley, to help them explore
whether or not they can besuccessful.
I think that the energy isthere, there's funding there,
(03:04):
there's funding there, there'sscience there in ways to make
great progress on behalf ofpopulations, because we know
that innovation is what drivesfuture of populations in terms
of growth.
Medical Alley itself, at itscore roots, is an economic,
trade and developmentorganization, and within that
(03:27):
we're engaged in multifacetedactivities.
What we do what we callinnovating, elevating and
transforming.
On the innovation side, for usit's all about innovation.
So the STARTS program that wedo a lot with out of Australia,
for our elevating piece, it'sabout what you just referenced,
caroline, it is our network.
(03:49):
So we have a network of over800 organizations, so not just
companies.
So think public-privatepartnerships, academia, payers,
providers, med tech, bio pharma.
We talk about the ecosystem andthe best and the easiest way to
think about that is think aboutthe three of us.
We're patients, we're families,we need care.
(04:10):
So think about anything thattouches a patient and go all
along that continuum, from bothwhat we'd call preventive care
and holistic care and socialdeterminants of health which in
a minute you'll hear me talkabout health equity all the way
to what we think aboutdeterminants of health which in
a minute you'll hear me talkabout health equity all the way
to what we think about in termsof interventions, which we're
very familiar with in terms ofmed tech and pharma, and then
(04:33):
pulling it through even to endof life for more holistic care
and hospice care and home careand the like.
And so within thoseorganizations, for our network,
that's probably the thing thatthe average individual is most
familiar with around MedicalAlley, because they think of the
events that we do and theplaces that we are and what we
(04:55):
foster On our transform piece.
For us, that's about healthequity, and the best way that I
know how to define that isreally around access,
affordability and quality.
That's how we unpack that andwithin that, we've made a
commitment our board and I haveto give them all the credit like
(05:15):
.
This is pre-Bobby Dressen.
This is back in 2018-17, whichis really kind of cool because
this was pre-2020, any sort ofglobal pandemic.
In the state of Minnesota, itwas pre-tragedy of George Floyd,
but they made a decision thenthat they wanted to reduce
(05:36):
barriers to care for underservedpopulations, conversations and
more so.
What they were seeing, and forthose of us who are parents, was
that it was really percolatingup with our youth in terms of
isolation and social media.
I mean, that was in 2018, 19,and just know what we see today,
right, with even people beingremote so much and not having
(05:59):
interface or not having theopportunity to be with others.
So that's the health equitypiece or not having the
opportunity to be with others.
So that's the health equitypiece, and then, layered through
everything we do, and it won'tsurprise you is what we call our
insights and advocacy.
So that's our trade associationpiece back at our roots.
But it's really about policy.
So, in healthcare, what do we?
(06:21):
When we think about healthcareand we think about how
healthcare emerges, no matterwhat country we're in, it's
about policy and setting it onbehalf of public health and then
putting things in place toeither regulate it, create
quality around it, createreimbursement around it, but
that's the whole component ofthat.
(06:42):
So that's Medical Alley today.
That's the work that we'reengaged in and that's how it's
integrated.
And while our foundation and ourheadquarters are in Minnesota
since 1984, we've been globaland I'd say our biggest growth
area right now has been a focuson how else we can have touch
(07:05):
points in the United States,because we pride ourselves in
that as much as we want to drawyou to us that if Minnesota is
not the best place, we do havethe connections now in the
United States to help you getthere.
So if you, if what we have aneed, what you need right now
isn't here.
We now have connections in thenew hubs that you're very
(07:27):
familiar with because you'vebeen visiting them Boston right
or Durham, north Carolina orAustin, texas, or the new
Western Front of Denver andBoulder.
You know those places areplaces, nashville, tennessee.
We have touch points there.
Stuart Dignam (07:43):
And you're right, bobbi, nashville, tennessee.
We have touch points there.
And you're right, bobby.
We were lucky enough to comesee you and your team and all of
your network back in October oflast year with a delegation of
Australian companies and we sawthat you are the epicenter in
the United States for medtechfirsthand.
Little companies, big companies, the university, mayo Clinic
(08:07):
and I think our companies werekind of blown away by the
opportunities in Minnesota, somuch so that several Australian
companies have chosen to basethemselves in Minnesota as part
of their kind of US market entrystrategy.
That interaction, thatinternational engagement,
thinking globally, how importantis that to you and to Medical
(08:30):
Alley?
Roberta Dressen (08:31):
Well, it's absolutely key to us.
It's why we exist.
You know, when you think aboutthe resources that are here for
any organization choosing totake a look at Minnesota, I mean
you've got the largest medicaldevice manufacturer.
Through Medtronic you have theworld's top hospital, mayo
(08:53):
Clinic.
That's where I was all morningthis morning was down at Mayo.
I sit on the board for what'sbecoming their Discovery Square,
which will have wet labs anddry labs in different places for
companies to locate and to beable to do joint research with
Mayo.
That is huge, you know.
We have United Health Group,which is the largest national
private insurer.
So anything we build it isn't,you know, in health care, it
(09:16):
isn't build it and they'll come.
We have to figure out thatreimbursement piece.
And how fortunate are we thatall of these insurers that are
at our table Right to have aconversation about what that
looks like.
And then, of course, we've gotthe University of Minnesota,
which is another premierresearch institution that has
some new relationships as wellin Australia.
(09:37):
And then we have otheruniversities at our table
University of Miami, universityof Oklahoma, who has dry and wet
labs ready today.
We have Nebraska at our table.
We have Fort Collins out ofDenver, which is one of the
biggest orthopedic researchcenters.
So we've Durham, north Carolina, duke, which people would
immediately resonate with.
(09:58):
So we have lots of opportunitythere from that standpoint for
companies.
Caroline Duell (10:04):
We saw you a couple of months ago over in the
US and we were delighted tore-sign or extend a memorandum
of understanding with Medical LAAssociation, which is an
important collaboration for MTPConnect and has been, you know,
a long-term relationship.
How important are thoseconnections between sort of
(10:25):
Minnesota and Australia.
Roberta Dressen (10:27):
Well, australia is, I'd say.
I have to be careful.
Now we're putting this on tape,but you're, like, I'd say, one
of our favorite relationships.
It's all about the people rightAt the end of the day.
But what's really interestingto me and I've watched, both
with my medical alley work butalso when I was at Medtronic
because I had Asia Pacific aspart of my territory, as well as
(10:50):
when I was at Boston Scientificbecause our chief medical
officer was from you know, drMeredith was from there and
Melbourne to be exact and theamount of innovation and the
commitment that the country hasbeen making and the investment.
When I look at your, when Ilearned about your angel tax
credit or what we'd call angel,but your tax credits and your
(11:12):
incentive programs for companies, it's pretty magnificent and I
you know, to me that's a beliefnot only in your country and its
future and innovation, but it'salso equally a belief in your
people to be able to generatethat and to have the opportunity
then to explore, because we allknow that 85, 95% of these
(11:36):
companies fail and it's the onesthat percolate up.
But then you look at yourcompanies that have percolated
up and even the ones that havecome to the United States and
you've had great success andit's because you've got that
infrastructure there and thatcommitment and passion.
That's what I love aboutAustralia is that willingness to
take that risk and then toreally put it forward, or, to
(11:57):
use an American statement, youknow to put your money where
your mouth is.
You just you're with them, sideby side and you know, stuart
and Caroline, the work that youall do speaks for it, day in,
day out and, as a result, yourcompanies trust you, they follow
you and they're there to useyou as a resource in ways that
(12:18):
we don't always see elsewhere,particularly as we get on other
continents.
Stuart Dignam (12:22):
As you say, the people is the most important
thing.
The Minnesota government andthe Australian government
definitely prioritise medicalscience and medical technologies
in terms of government policysettings and, as you say,
incentives to make thoseinvestments small to medium
(12:51):
enterprises here in Australiawho have, you know, on their
bucket list, that strategic goalof cracking the US market.
Caroline Duell (12:54):
One of the ways that you know we've been, I
guess, helping companies jointhe dots is taking trade
delegations to visit places likeMedical Alley and to kind of
see the infrastructure and thesupport and what's possible in
the US infrastructure and thesupport and what's possible in
the US.
You're launching a new onlinetraining program for medtech
(13:14):
companies wanting tocommercialize and enter the US
market.
Can you tell us a bit moreabout it?
It sounds really interesting.
Roberta Dressen (13:21):
I would love to .
One of the reasons that we'relaunching this is because of
Australia.
So we pay attention and listento what our partners tell us,
and we've been hearing fromAustralia the last couple of
years, from your entrepreneurs,that they were really looking
(13:42):
for information on how tonavigate and enter the US market
and to understand clearly whatsome of those differences were.
And so we sat down and we saidwhat is a way that we could be
helpful to both our globalpartners, but also to those in
(14:04):
the United States?
Because when you peel that back, the information you need is
really not different.
It may be new information toyou as a listener, but it's not
different in terms of what thosecomponents are.
So we put together a newprogram called the Medical Alley
Academy.
We are officially launching it.
(14:25):
In March of this year, we madethe act of choice that it would
be online and that we'reactually are.
We made the active choice andwe want to thank you very much
for running it and launching itin Australia.
First, what's this going to do?
Our first one is focused onMedTech.
It brings modules, a series offive, that are focused on what I
(14:51):
would label as the totalproduct life cycle.
So when we're engaged in aMedTech device that we want to
bring to market, we need tothink about that device
holistically.
That means we need to not onlythink about the engineering and
the science of the why and thewhat and what problem we're
solving for.
But in an ideal world, we wouldstart that process with all the
(15:16):
players around the table thatare ultimately going to touch it
for the success of its outcomelong term.
So we would be talking upfrontabout how is this going to get
reimbursed?
Who's going to pay for it,because it's not a world of
build it and they will come.
We would be talking about isthis a product that needs to go
through a regulatory process byan agency?
(15:38):
In the United States thatagency is the FDA.
There's a variety of differentclassifications and, based on
the classification, there'sdifferent processes that are
associated with it.
We would be talking as wellabout what needs to happen in
terms of how you get marketvaluation and what you
(15:59):
ultimately price your product at, what that value proposition is
meaning, how it'sdifferentiated, how you might
measure outcomes.
We're all very what do I want tosay?
We're well tethered into theidea of a clinical trial, but
clinical trials are looking atthe impact at that moment we're
not always measuring long-termoutcomes or an outcome in a way
(16:23):
to tell a story differently andthat actually becomes your value
proposition long term for thatreimbursement side.
And then there's just the wholetotal market focus from a
marketing standpoint.
So we've pulled togetherexperts who, in many cases, have
both designed, launched andexited multiple companies very
(16:45):
successfully.
We've pulled together expertsthat are well steeped both in
education and in practice onthings like regulatory quality,
safety, reimbursement, thethings that matter there.
We've put it into a series ofvideo, online learning.
We've put worksheets in placefor a person to be able to
(17:08):
practice.
We have bibliography,additional information within
each module that gives youpodcasts and or additional
videos to watch or a book toread.
So think of each piece asself-contained but as an
integrative flow from beginningto end.
And that's Medical AlleyAcademy.
(17:29):
We're hopeful you will begin tothen see modules in other areas
, such as biopharma, such asdigital health.
That's the long-range plan andeven woven into that, we hope to
do some in-person workshops inanother year where folks could
get together, and that's wherewe'd love to come to Australia
(17:50):
and actually do a workshop withyou and have you bring to the
table what you love to share andus to do it with you.
And, as you know, we've beentalking we're going to come see
you in 2025.
We're trying to figure out thattiming, but that's another trip
that we want to make and comesee what we can do together.
Caroline Duell (18:08):
Wow, well, that sounds really exciting and we'll
be welcomed, I think, by thesector here for that incredible
knowledge and knowledge sharing.
Really, stuart, what do youthink about all of that?
Stuart Dignam (18:22):
Look, I think it's incredibly exciting and I
guess the question is when willit be available, bobby?
Roberta Dressen (18:30):
My goal is that you'll be able to access it by
the end of March.
Stuart Dignam (18:34):
Anything that can build that knowledge about how
we work with each other, how wedo business together, is
incredibly valuable, and thereare deep complexities in our
sector that we need to properlyunderstand if we're going to
create viable medtech businesses.
So looking forward to it andlooking forward to welcoming you
(18:56):
to Australia at some point thisyear.
Roberta Dressen (18:59):
Thank you, yeah , we're looking forward to it
too.
Caroline Duell (19:02):
You've spent a lifetime career to this point in
the med tech sector in America.
What are you seeing now comingthrough in terms of innovation?
Is there any sort of theme ortrend or med tech kind of
concept that's really going toblow us away?
Roberta Dressen (19:20):
Well, I don't think any differently than what
you're seeing, but we'redefinitely seeing some trends
right.
So we're cautiously watching AIand what its impact can be.
I would say the word cautiousis the norm right now, because
when we're dealing with humanlife, it's very different than,
(19:41):
perhaps, a Delta Airlines usingit for hospitality purposes.
The other thing that we've beenwatching and I know you're
experiencing the same thing iswhat's happening on the whole
stem cell biocellular.
I mean precision healthcare.
I was just down at Mayo todaywork that they're doing with a
new company that's been launchedinternally by their previous
(20:04):
chair of their businessdevelopment.
The person who we all know, jimRogers, is now leading a
digital pathology based on AIand precision medicine, where
it's coming off slides and theability to diagnose diseases
sooner rather than later, andthen with that precision
treatment.
We've been talking about thisfor a long time, but we're
(20:26):
actually seeing it evolve nowand come forward, and it's
because I guess it's suchcomplicated science, but it's
been simplified and more andmore people are able to work
with it in labs and so the scaleof it is greater and with that
comes greater research and theopportunity.
Those are the things we'reseeing right now, and then
(20:48):
couple that with that.
The world is just constantly asmaller and smaller place.
I mean, look at how we'retalking today, look at how our
scientists are sharinginformation, those integrations
and sharing between universitiesyou know the work that's been
going on between Australia andthe University of Minnesota or
MIT, or at Harvard or Cambridge.
(21:09):
I mean it's all happening andwith that, each new learning and
then opportunity to servemankind.
I mean that's why I'm inhealthcare.
I love it.
I love how you can really, whensomeone gets sick, that you
know and the opportunity toreach out and maybe find out
what the different possibilitiesare is pretty incredible these
(21:29):
days and it can be done assimply by sending an email.
So, yeah, that's what I'mseeing and I'm excited for it,
and I'm excited for our nextgeneration of scientists and all
that they are percolating up.
Caroline Duell (21:43):
Well, thank you for sharing your passion and
your hopes for the sector, andwe're really looking forward to
hosting you out here inAustralia.
We can't wait for you andMedical Alley to be back here
down under and helping topromote this fantastic new
training program, medical AlleyAcademy.
Roberta Dressen (22:03):
Thank you so much.
I sincerely mean that wecouldn't do this without you.
So thank you for yourpartnership and your trust in us
, and please know that we arealways here for you in any way
that we can be.
Stuart Dignam (22:17):
Great to catch up , Bobbi.
Caroline Duell (22:20):
You've been listening to the MTP Connect
podcast.
This podcast is produced on thelands of the Wurundjeri people
here in Narm, melbourne.
Thanks for listening to theshow.
If you love what you heard,share our podcast and follow us
for more until next time.
This is the MTP Connect podcast, connecting you
with the people behind thelife-saving innovations driving
Australia's growing lifesciences sector from bench to
bedside for better health andwellbeing.
Mtp Connect acknowledges thetraditional owners of country
that this podcast is recorded onand recognises that Aboriginal
(00:23):
and Torres Strait Islanderpeoples are Australia's first
storytellers and the holders offirst science knowledge.
Caroline Duell (00:33):
Hello and welcome to the podcast.
I'm Caroline Duell.
Medical Alley is a globalnetwork of healthcare
organisations on a mission todrive innovation and transform
healthcare solutions for peopleworldwide.
Headquartered in Minnesota,medical Alley is one of the
biggest medtech clusters in theworld, with members from
startups to Fortune 100companies, and at the 2024
(00:57):
Medtech Conference in Canada,mtp Connect signed an MOU with
Medical Alley in an ongoingcollaboration to support the
growth of medtech companiesbetween the two countries.
It's about providing commercialand collaboration opportunities
for Australian medtechinnovators and setting up some
networks.
Medical Alley is launching anonline training program which is
(01:20):
going to support Australianinnovators who are keen to
expand into the US market.
Here to tell us more about thatis their CEO, Roberta Dressen.
Also joining me on the podcastis MTP Connect's CEO, stuart
Dignam.
Great to have you on thepodcast today, Bobby, all the
way from Minnesota in theafternoon there in the US, and I
(01:45):
wanted to ask you really aboutwhat the Medical Alley
Association does with itsnetwork of hundreds of
healthcare organizations inMinnesota.
What do you do for thoseorganizations and what's your
mission?
Roberta Dressen (02:02):
Big question.
So our mission is to activateand to amplify healthcare
transformation, and if we aredoing a good job at that, we are
seen by our vision, which is tobe the epicenter of health
innovation and care, and thepiece that's really fun to tell
(02:23):
you about, as I described that,is that that was the vision
statement to be the epicenter 40years ago by our founder, earl
Bakken, and I would say and Ithink you all can relate to this
better than a lot of otherfolks we talked to because of
the cool work you're engaged inas well I would say that it has
never been more relevant thanbefore.
(02:44):
Between the entrepreneurs,we're seeing the global
interconnection companiespercolating up with just simple
ideas to complex ideas and theforces that are behind them,
like an MTP Connect or a medicalalley, to help them explore
whether or not they can besuccessful.
I think that the energy isthere, there's funding there,
(03:04):
there's funding there, there'sscience there in ways to make
great progress on behalf ofpopulations, because we know
that innovation is what drivesfuture of populations in terms
of growth.
Medical Alley itself, at itscore roots, is an economic,
trade and developmentorganization, and within that
(03:27):
we're engaged in multifacetedactivities.
What we do what we callinnovating, elevating and
transforming.
On the innovation side, for usit's all about innovation.
So the STARTS program that wedo a lot with out of Australia,
for our elevating piece, it'sabout what you just referenced,
caroline, it is our network.
(03:49):
So we have a network of over800 organizations, so not just
companies.
So think public-privatepartnerships, academia, payers,
providers, med tech, bio pharma.
We talk about the ecosystem andthe best and the easiest way to
think about that is think aboutthe three of us.
We're patients, we're families,we need care.
(04:10):
So think about anything thattouches a patient and go all
along that continuum, from bothwhat we'd call preventive care
and holistic care and socialdeterminants of health which in
a minute you'll hear me talkabout health equity all the way
to what we think aboutdeterminants of health which in
a minute you'll hear me talkabout health equity all the way
to what we think about in termsof interventions, which we're
very familiar with in terms ofmed tech and pharma, and then
(04:33):
pulling it through even to endof life for more holistic care
and hospice care and home careand the like.
And so within thoseorganizations, for our network,
that's probably the thing thatthe average individual is most
familiar with around MedicalAlley, because they think of the
events that we do and theplaces that we are and what we
(04:55):
foster On our transform piece.
For us, that's about healthequity, and the best way that I
know how to define that isreally around access,
affordability and quality.
That's how we unpack that andwithin that, we've made a
commitment our board and I haveto give them all the credit like
(05:15):
.
This is pre-Bobby Dressen.
This is back in 2018-17, whichis really kind of cool because
this was pre-2020, any sort ofglobal pandemic.
In the state of Minnesota, itwas pre-tragedy of George Floyd,
but they made a decision thenthat they wanted to reduce
(05:36):
barriers to care for underservedpopulations, conversations and
more so.
What they were seeing, and forthose of us who are parents, was
that it was really percolatingup with our youth in terms of
isolation and social media.
I mean, that was in 2018, 19,and just know what we see today,
right, with even people beingremote so much and not having
(05:59):
interface or not having theopportunity to be with others.
So that's the health equitypiece or not having the
opportunity to be with others.
So that's the health equitypiece, and then, layered through
everything we do, and it won'tsurprise you is what we call our
insights and advocacy.
So that's our trade associationpiece back at our roots.
But it's really about policy.
So, in healthcare, what do we?
(06:21):
When we think about healthcareand we think about how
healthcare emerges, no matterwhat country we're in, it's
about policy and setting it onbehalf of public health and then
putting things in place toeither regulate it, create
quality around it, createreimbursement around it, but
that's the whole component ofthat.
(06:42):
So that's Medical Alley today.
That's the work that we'reengaged in and that's how it's
integrated.
And while our foundation and ourheadquarters are in Minnesota
since 1984, we've been globaland I'd say our biggest growth
area right now has been a focuson how else we can have touch
(07:05):
points in the United States,because we pride ourselves in
that as much as we want to drawyou to us that if Minnesota is
not the best place, we do havethe connections now in the
United States to help you getthere.
So if you, if what we have aneed, what you need right now
isn't here.
We now have connections in thenew hubs that you're very
(07:27):
familiar with because you'vebeen visiting them Boston right
or Durham, north Carolina orAustin, texas, or the new
Western Front of Denver andBoulder.
You know those places areplaces, nashville, tennessee.
We have touch points there.
Stuart Dignam (07:43):
And you're right, bobbi, nashville, tennessee.
We have touch points there.
And you're right, bobby.
We were lucky enough to comesee you and your team and all of
your network back in October oflast year with a delegation of
Australian companies and we sawthat you are the epicenter in
the United States for medtechfirsthand.
Little companies, big companies, the university, mayo Clinic
(08:07):
and I think our companies werekind of blown away by the
opportunities in Minnesota, somuch so that several Australian
companies have chosen to basethemselves in Minnesota as part
of their kind of US market entrystrategy.
That interaction, thatinternational engagement,
thinking globally, how importantis that to you and to Medical
(08:30):
Alley?
Roberta Dressen (08:31):
Well, it's absolutely key to us.
It's why we exist.
You know, when you think aboutthe resources that are here for
any organization choosing totake a look at Minnesota, I mean
you've got the largest medicaldevice manufacturer.
Through Medtronic you have theworld's top hospital, mayo
(08:53):
Clinic.
That's where I was all morningthis morning was down at Mayo.
I sit on the board for what'sbecoming their Discovery Square,
which will have wet labs anddry labs in different places for
companies to locate and to beable to do joint research with
Mayo.
That is huge, you know.
We have United Health Group,which is the largest national
private insurer.
So anything we build it isn't,you know, in health care, it
(09:16):
isn't build it and they'll come.
We have to figure out thatreimbursement piece.
And how fortunate are we thatall of these insurers that are
at our table Right to have aconversation about what that
looks like.
And then, of course, we've gotthe University of Minnesota,
which is another premierresearch institution that has
some new relationships as wellin Australia.
(09:37):
And then we have otheruniversities at our table
University of Miami, universityof Oklahoma, who has dry and wet
labs ready today.
We have Nebraska at our table.
We have Fort Collins out ofDenver, which is one of the
biggest orthopedic researchcenters.
So we've Durham, north Carolina, duke, which people would
immediately resonate with.
(09:58):
So we have lots of opportunitythere from that standpoint for
companies.
Caroline Duell (10:04):
We saw you a couple of months ago over in the
US and we were delighted tore-sign or extend a memorandum
of understanding with Medical LAAssociation, which is an
important collaboration for MTPConnect and has been, you know,
a long-term relationship.
How important are thoseconnections between sort of
(10:25):
Minnesota and Australia.
Roberta Dressen (10:27):
Well, australia is, I'd say.
I have to be careful.
Now we're putting this on tape,but you're, like, I'd say, one
of our favorite relationships.
It's all about the people rightAt the end of the day.
But what's really interestingto me and I've watched, both
with my medical alley work butalso when I was at Medtronic
because I had Asia Pacific aspart of my territory, as well as
(10:50):
when I was at Boston Scientificbecause our chief medical
officer was from you know, drMeredith was from there and
Melbourne to be exact and theamount of innovation and the
commitment that the country hasbeen making and the investment.
When I look at your, when Ilearned about your angel tax
credit or what we'd call angel,but your tax credits and your
(11:12):
incentive programs for companies, it's pretty magnificent and I
you know, to me that's a beliefnot only in your country and its
future and innovation, but it'salso equally a belief in your
people to be able to generatethat and to have the opportunity
then to explore, because we allknow that 85, 95% of these
(11:36):
companies fail and it's the onesthat percolate up.
But then you look at yourcompanies that have percolated
up and even the ones that havecome to the United States and
you've had great success andit's because you've got that
infrastructure there and thatcommitment and passion.
That's what I love aboutAustralia is that willingness to
take that risk and then toreally put it forward, or, to
(11:57):
use an American statement, youknow to put your money where
your mouth is.
You just you're with them, sideby side and you know, stuart
and Caroline, the work that youall do speaks for it, day in,
day out and, as a result, yourcompanies trust you, they follow
you and they're there to useyou as a resource in ways that
(12:18):
we don't always see elsewhere,particularly as we get on other
continents.
Stuart Dignam (12:22):
As you say, the people is the most important
thing.
The Minnesota government andthe Australian government
definitely prioritise medicalscience and medical technologies
in terms of government policysettings and, as you say,
incentives to make thoseinvestments small to medium
(12:51):
enterprises here in Australiawho have, you know, on their
bucket list, that strategic goalof cracking the US market.
Caroline Duell (12:54):
One of the ways that you know we've been, I
guess, helping companies jointhe dots is taking trade
delegations to visit places likeMedical Alley and to kind of
see the infrastructure and thesupport and what's possible in
the US infrastructure and thesupport and what's possible in
the US.
You're launching a new onlinetraining program for medtech
(13:14):
companies wanting tocommercialize and enter the US
market.
Can you tell us a bit moreabout it?
It sounds really interesting.
Roberta Dressen (13:21):
I would love to .
One of the reasons that we'relaunching this is because of
Australia.
So we pay attention and listento what our partners tell us,
and we've been hearing fromAustralia the last couple of
years, from your entrepreneurs,that they were really looking
(13:42):
for information on how tonavigate and enter the US market
and to understand clearly whatsome of those differences were.
And so we sat down and we saidwhat is a way that we could be
helpful to both our globalpartners, but also to those in
(14:04):
the United States?
Because when you peel that back, the information you need is
really not different.
It may be new information toyou as a listener, but it's not
different in terms of what thosecomponents are.
So we put together a newprogram called the Medical Alley
Academy.
We are officially launching it.
(14:25):
In March of this year, we madethe act of choice that it would
be online and that we'reactually are.
We made the active choice andwe want to thank you very much
for running it and launching itin Australia.
First, what's this going to do?
Our first one is focused onMedTech.
It brings modules, a series offive, that are focused on what I
(14:51):
would label as the totalproduct life cycle.
So when we're engaged in aMedTech device that we want to
bring to market, we need tothink about that device
holistically.
That means we need to not onlythink about the engineering and
the science of the why and thewhat and what problem we're
solving for.
But in an ideal world, we wouldstart that process with all the
(15:16):
players around the table thatare ultimately going to touch it
for the success of its outcomelong term.
So we would be talking upfrontabout how is this going to get
reimbursed?
Who's going to pay for it,because it's not a world of
build it and they will come.
We would be talking about isthis a product that needs to go
through a regulatory process byan agency?
(15:38):
In the United States thatagency is the FDA.
There's a variety of differentclassifications and, based on
the classification, there'sdifferent processes that are
associated with it.
We would be talking as wellabout what needs to happen in
terms of how you get marketvaluation and what you
(15:59):
ultimately price your product at, what that value proposition is
meaning, how it'sdifferentiated, how you might
measure outcomes.
We're all very what do I want tosay?
We're well tethered into theidea of a clinical trial, but
clinical trials are looking atthe impact at that moment we're
not always measuring long-termoutcomes or an outcome in a way
(16:23):
to tell a story differently andthat actually becomes your value
proposition long term for thatreimbursement side.
And then there's just the wholetotal market focus from a
marketing standpoint.
So we've pulled togetherexperts who, in many cases, have
both designed, launched andexited multiple companies very
(16:45):
successfully.
We've pulled together expertsthat are well steeped both in
education and in practice onthings like regulatory quality,
safety, reimbursement, thethings that matter there.
We've put it into a series ofvideo, online learning.
We've put worksheets in placefor a person to be able to
(17:08):
practice.
We have bibliography,additional information within
each module that gives youpodcasts and or additional
videos to watch or a book toread.
So think of each piece asself-contained but as an
integrative flow from beginningto end.
And that's Medical AlleyAcademy.
(17:29):
We're hopeful you will begin tothen see modules in other areas
, such as biopharma, such asdigital health.
That's the long-range plan andeven woven into that, we hope to
do some in-person workshops inanother year where folks could
get together, and that's wherewe'd love to come to Australia
(17:50):
and actually do a workshop withyou and have you bring to the
table what you love to share andus to do it with you.
And, as you know, we've beentalking we're going to come see
you in 2025.
We're trying to figure out thattiming, but that's another trip
that we want to make and comesee what we can do together.
Caroline Duell (18:08):
Wow, well, that sounds really exciting and we'll
be welcomed, I think, by thesector here for that incredible
knowledge and knowledge sharing.
Really, stuart, what do youthink about all of that?
Stuart Dignam (18:22):
Look, I think it's incredibly exciting and I
guess the question is when willit be available, bobby?
Roberta Dressen (18:30):
My goal is that you'll be able to access it by
the end of March.
Stuart Dignam (18:34):
Anything that can build that knowledge about how
we work with each other, how wedo business together, is
incredibly valuable, and thereare deep complexities in our
sector that we need to properlyunderstand if we're going to
create viable medtech businesses.
So looking forward to it andlooking forward to welcoming you
(18:56):
to Australia at some point thisyear.
Roberta Dressen (18:59):
Thank you, yeah , we're looking forward to it
too.
Caroline Duell (19:02):
You've spent a lifetime career to this point in
the med tech sector in America.
What are you seeing now comingthrough in terms of innovation?
Is there any sort of theme ortrend or med tech kind of
concept that's really going toblow us away?
Roberta Dressen (19:20):
Well, I don't think any differently than what
you're seeing, but we'redefinitely seeing some trends
right.
So we're cautiously watching AIand what its impact can be.
I would say the word cautiousis the norm right now, because
when we're dealing with humanlife, it's very different than,
(19:41):
perhaps, a Delta Airlines usingit for hospitality purposes.
The other thing that we've beenwatching and I know you're
experiencing the same thing iswhat's happening on the whole
stem cell biocellular.
I mean precision healthcare.
I was just down at Mayo todaywork that they're doing with a
new company that's been launchedinternally by their previous
(20:04):
chair of their businessdevelopment.
The person who we all know, jimRogers, is now leading a
digital pathology based on AIand precision medicine, where
it's coming off slides and theability to diagnose diseases
sooner rather than later, andthen with that precision
treatment.
We've been talking about thisfor a long time, but we're
(20:26):
actually seeing it evolve nowand come forward, and it's
because I guess it's suchcomplicated science, but it's
been simplified and more andmore people are able to work
with it in labs and so the scaleof it is greater and with that
comes greater research and theopportunity.
Those are the things we'reseeing right now, and then
(20:48):
couple that with that.
The world is just constantly asmaller and smaller place.
I mean, look at how we'retalking today, look at how our
scientists are sharinginformation, those integrations
and sharing between universitiesyou know the work that's been
going on between Australia andthe University of Minnesota or
MIT, or at Harvard or Cambridge.
(21:09):
I mean it's all happening andwith that, each new learning and
then opportunity to servemankind.
I mean that's why I'm inhealthcare.
I love it.
I love how you can really, whensomeone gets sick, that you
know and the opportunity toreach out and maybe find out
what the different possibilitiesare is pretty incredible these
(21:29):
days and it can be done assimply by sending an email.
So, yeah, that's what I'mseeing and I'm excited for it,
and I'm excited for our nextgeneration of scientists and all
that they are percolating up.
Caroline Duell (21:43):
Well, thank you for sharing your passion and
your hopes for the sector, andwe're really looking forward to
hosting you out here inAustralia.
We can't wait for you andMedical Alley to be back here
down under and helping topromote this fantastic new
training program, medical AlleyAcademy.
Roberta Dressen (22:03):
Thank you so much.
I sincerely mean that wecouldn't do this without you.
So thank you for yourpartnership and your trust in us
, and please know that we arealways here for you in any way
that we can be.
Stuart Dignam (22:17):
Great to catch up , Bobbi.
Caroline Duell (22:20):
You've been listening to the MTP Connect
podcast.
This podcast is produced on thelands of the Wurundjeri people
here in Narm, melbourne.
Thanks for listening to theshow.
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