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Market Landscape Assessment and Competitive Analysis of Information Guided Surgery
Global Market Research Manager XYZ Surgical Devices Dear Elaine, Per our conversations, Harrison Hayes has incorporated valuable feedback from Company XYZ and is pleased to present a research proposal that will focus providing an overall market landscape and competitive intelligence analysis of the Information Guided Surgery market in the BRIC nations.
In this proposal, we present a review of the objectives, scope, qualitative primary research, and secondary research for this project. We will detail the methodology that Harrison Hayes will utilize to obtain unique insights into the unmet needs of the Information Guided Surgery Market. We are highly confident that our ideation methodology and insightful results will exceed your expectations. To complement our work on this project, Harrison Hayes will rely on a dynamic network of Key Innovation Leaders and Key Customers who have deep domain expertise and are well respected in their specific disciplines and an array of secondary research materials, including our internal database. This assures that our research, and points of view are of the highest value. We welcome your suggestions and comments and look forward to a great working relationship.
Sincerely, Bill Smith CEO Harrison Hayes, LLC. Charlotte, North Carolina
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EXECUTIVE SUMMARY
Harrison Hayes is a unique strategic research and advisory services company focused on the life sciences, and developed out of a brand consultancy specializing in verbal and visual branding and brand strategy consulting. We enable our clients to identify, assess, and capitalize on new market opportunities and human capital. The phrase "strategy consulting" can be deceptive in its simplicity -‐ particularly in the life sciences market where progress and technology depend on a complexity of skill sets and contacts to achieve success. Through our alliances with select members of biotechnology, pharmaceutical, medical device, diagnostic, and supporting sectors of the industry, Harrison Hayes provides a tailored focus that places our offerings far above those of traditional multi-‐industry consulting firms and allows us to operate within a timeframe that exceeds our clients' expectations. We know the healthcare industry like no one else, and we are armed with a skilled team of analysts and consultants from the medical, scientific, research, marketing, and business development communities. In a recent study conducted by Harrison Hayes, we spoke to forty “innovation thought leaders” from pharmaceutical and medical device companies. These individuals are generally recognized within their respective companies as the leaders of innovation and change. Based on this and two previous surveys conducted on this subject matter, Harrison Hayes has developed a proprietary methodology that provides our clients with the most innovative and forward thinking results. This methodology further allows Harrison Hayes to gain unique and valuable insight into the competitive and business landscapes on a global scale across the medical devices, pharmaceuticals, and overall healthcare industries. This project for Company XYZ will consist of qualitative, Key Innovation Leader interviews, a Voice of the Customer Study, secondary research, and the construction of a final report (Strataject Report™). Each of these research methodologies will allow Harrison Hayes to best identify unmet needs, landscape analysis of market competitors and joint venture partners, an opportunity map, and newly discovered needs relating to Information Guided Surgery. Primary Research will be qualitative in nature and consist of a proprietary panel of Key Innovation Leaders and Key Customers. These individuals will be recognized thought leaders in their respective fields and practicing surgeons in China, India, Russia, and Brazil. Harrison Hayes, in conjunction with Company XYZ will construct a Key Innovation Leader and Key Customer Study Guide that will serve as a platform for discussion with each recruited individual. All interviews, or focus group discussions, will be conducted by a member of the Harrison Hayes Research team who has the autonomy to maneuver through unique issues that arise during the discussions.
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To supplement the qualitative, primary research of this analysis for Company XYZ, Harrison Hayes will also conduct secondary research from a wide range of sources. Harrison Hayes has an extensive proprietary database of secondary research that will add exceptional value to obtaining a complete understanding of the unmet needs and potential opportunities within the Information Guided Surgery space. Harrison Hayes will thoroughly examine issues relating to unmet needs, newly discovered needs, competitors and potential joint venture partners within the Information Guided Surgery space. Secondary sources include Syndicated, Publicly Available information, and Proprietary databases. The Proprietary database is a key asset for Harrison Hayes, consisting of previously conducted research that resides “in-‐house,” and can be leveraged to significantly reduce time constraints on deliverables.
The final phase of this project will consist of Harrison Hayes’s Strataject Report™. This report will be the culmination of all research that has been conducted throughout the duration of the engagement. The Strataject Report™ will identify unmet needs, provide opportunity mapping, and identify competitors and partners.
HARRISON HAYES OVERVIEW
Company Overview Harrison Hayes is a unique, life science-‐focused, strategic research and advisory services company, developed out of a global brand consultancy. Harrison Hayes has served as a separate entity since 2007. Harrison Hayes is a limited liability company with 42 principles all over the globe. Our corporate headquarters is located at the address below:
Harrison Hayes, LLC 401 North Tryon Street Suite 1067 Charlotte, North Carolina 28202
Experience Harrison Hayes has been engaged by over 120 companies in 37 different countries around the world. The total number of project completed to date numbers in excess of 1,100. Our strength lies in a network of selective clientele and an aggressive research team committed to staying abreast of the latest advances, trends, and evolving corporate strategies. Actively maintaining relationships with an international network of leading business development, R&D, licensing professionals, technology transfer centers, and venture capital firms provides Harrison Hayes with the resources necessary to uncover the most promising and thorough deliverables for our clients. Harrison Hayes has accomplished many things -‐ being passive is not one of them. Our fierce
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commitment to stay ahead of industry trends has earned Harrison Hayes the reputation as an industry leader. With our focus trained exclusively and completely on the life sciences, Harrison Hayes identifies the most valuable opportunities, partnerships, and talent, putting the market under the microscope to examine trends and provide the most current and informative data available to deliver powerful decision making tools. Market research and analytics within the life sciences is a critical function that drives key decision-‐making. Our team provides insightful and actionable proprietary market research and analytic studies that employ project specific Key Innovation Leaders or Key Customers as part of each and every assignment. This primary research methodology, coupled with our exhaustive global research databases, allows us to identify and synthesize complex data and provide detailed results in an efficient time frame and understandable manner. The main product offerings within our consulting business are integrated primary market research, customized market analytics, competitive intelligence, due diligence analysis, and marketing strategy development reporting. Our collective insights draw from a full spectrum of disciplines required to deliver deep, integrated perspectives and decision-‐making insights to our clients. Our cross-‐discipline staffing model and advisory network allows our offering to be comprehensive and timely.
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Case Studies
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Key Contact The Key Contact individual and overall Project Manager for this project will be Mr. Fabian Panduro. Contact information for Fabian can be found below:
Corporate Development Director Harrison Hayes, LLC Address: 401 North Tryon Street Suite 1067 Charlotte, North Carolina 28202 Email: [email protected] Phone: 704-‐972-‐2405
Key Personnel William “Bill” Smith, Managing Director Mr. Smith is the Founder and Managing Director of Harrison Hayes, LLC, a strategic consulting firm with an emphasis on the creation of disruptive innovation products and platforms. Harrison Hayes has been engaged by over 300 companies conducting over 800 project assignments. Prior to Harrison Hayes, Bill was the Founder and CEO of Addison Whitney, which today, is the third largest branding consultancy in the world. Bill sold Addison Whitney in 1995 to Interpublic Group (NYSE:IPG) and led their Healthcare Acquisition Team for three years which was responsible for over $3 Billion in transactions. He re-‐acquired Addison Whitney in 1998 and re-‐positioned the firm to work exclusively with life science clients. Bill acted in a dual role with Addison Whitney (Chairman) and Harrison Hayes until 2007 when he sold Addison Whitney for a second time to inVentiv Health.
Education B.A., Berklee College M.A., Colorado State University Perry Lewis, Vice President Prior to joining Harrison Hayes, Mr. Lewis worked in product management for a private firm within the diabetes industry. In this capacity he oversaw national marketing campaigns and supply chain management, product development, new product launch, licensing agreements, gathered competitive/business intelligence, business analysis, and performed forecasting models. He played a vital role in business transactions with several large retailers including, but not limited to, Wal-‐Mart, Target, CVS, Walgreen’s, Rite Aid, and Kroger.
Education B.A., Davidson College M.B.A., Campbell University
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Kim Miller, Office Manager Prior to Harrison Hayes, Mrs. Miller worked with a private firm in the dental implant industry. She assisted the CEO/Founder in industry research, marketing projects and coordinating surgical training sessions within the United States. She also previously worked for 7 years with a private consulting firm within the Life Science industry as project coordinator, conducted market research and surveys, assisted in identifying in licensing and out licensing opportunities for clients and set meetings between potential licensing candidates. Prior to this position, she worked in a government funded hospital to assess treatment for disabled individuals. In this capacity, she worked as a member of a multi-‐disciplinary team to evaluate treatment options within physical therapy, occupational therapy, dietary needs, habilitation needs and vocational needs.
Education B.S., East Carolina University Post-‐Graduate Studies: Master course work in Health Science with a concentration in Management, Western Carolina University Judith Rosall, Director of Market Research Ms. Rosall has more than twenty years of professional experience as a leading Life Sciences (e.g. Biotechnology, Pharmaceuticals, Bioscience, Nanotechnology, Medical Devices, Healthcare), IT, Ecommerce, New Media/Digital Media/Social media industry analyst. She is highly skilled and experienced in quantitative and qualitative market research, including market sizing and forecasting, economic modeling, trends analysis, market segmentation, identification of key players, market share, and emerging (tactical and strategic) technology, customer buying and product preferences. She has been responsible for tracking, marketing consulting, and market research with a specific focus on Business-‐to-‐Business (B to B) and Business-‐to-‐Consumer (B to C) eCommerce solutions and infrastructures. Provided primary market research, competitive strategy analysis and customer-‐based surveys to internal clients included strategic business planning, senior executive management, senior product management/development, and sales/marketing business unit leaders. She has worked with various teams, co-‐operatively developing strategic, long range and tactical market analyses, product portfolios, customer-‐satisfaction surveys, customer contract administration benchmarking (online) surveys, customer satisfaction/buying and brand preference on-‐line surveys, and market/segment revenue forecasts.
Education Post-‐Graduate Studies: Business Admin. & Mgt., Harvard University M.S., Telecommunications/Business, University of Colorado B.S., Journalism/Marketing, University of Colorado
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Randall L. Sisam, DO, FACOOG Physician and Surgeon with 15 years experience in Women’s Health as an OB/GYN with special emphasis on Chronic Pelvic Pain, Urogynecology, Minimally Invasive Surgery and Bio-‐identical Hormone Replacement. While actively practicing, Dr. Sisam served as a Clinical Assistant Professor (University of New England) and Department Chairman (Inland Hospital, Waterville, Maine). He remains active in medical education through the NBOME National Board Review Committee, ACOOG Ethics Committee and as a National Speaker. Since 2009, Dr. Sisam has managed his own Independent Medical Consultancy (focusing on Process Improvement, Physician Performance, and Practice Management), developed a Peer Counseling Network for Malpractice Stress Syndrome (Open-‐Doors-‐Online.com) and pursued his Masters in Business Administration. He has recently been engaged by Harrison Hayes in their Business Development Department. Education B.S., (Allied Health) Grand View College D.O., Des Moines University Angele Sjong, PhD Formerly a director of contract manufacturing where she oversaw all formulation, scale-‐up, quality control, product claim and chemical stability in the successful launch of an over-‐the-‐counter (OTC) acne product. Created and instructed two new seminars for medical device engineers; developed curriculum based on five years consulting experience with the medical device industry. Provided expert witness testimony in chemistry/materials related to product liability. She was the lead or co-‐author on over sixty confidential scientific and engineering reports for over fifteen medical device companies. Education B.S., Chemistry University of California, Berkeley Ph.D., Inorganic Chemistry Yale University M.S., Metallurgical and Materials Engineering Colorado School of Mines
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BACKGROUND
As technology has advanced throughout the healthcare industry, there has recently been an increased focus to update conventional medical practices, particularly related to surgery. Over the past few years, surgeons have largely focused on minimally invasive procedures as a way to limit infection and improve patient safety. Moving forward, emerging technologies such as robotic surgery technology, visualization assistance methods, and updates in haptic technology will only improve patient safety and surgical outcomes. Emerging technologies relating to robotic surgery is well-‐documented, but technologies specific to information guided surgery, visualization techniques, and haptic technology has been comparatively overlooked. Haptic technology plays an extremely important role in all types of surgical procedures. Haptic technology enables surgeons to feel organic tissue hardness, measure tissue properties, and evaluate anatomical structures. In conventional surgical procedures that utilize large incisions, haptic technology plays a lesser role due to the fact that the surgeon can actually see and feel the tissue. Today, as previously mentioned, minimally invasive procedures (small incisions) are becoming the norm, and as a result, require greater use of haptic technology. The performance of minimally invasive surgery without proper haptic technology increases the risk of tissue trauma and vital organic tissue damage. Therefore, a greater degree of emphasis is being placed on developing instruments that can detect tissue contact forces and generate haptic feedback to the surgeon performing the procedure. It is important to note that compared to visual display technologies, haptic solutions are still in its infancy period. Haptic technology requires bi-‐directional input and output, which is difficult to model due to the large amount of touch receptors involved.1 Haptic technology can be defined in two (2) ways: tactile feedback and force feedback. Tactile feedback is sensed by receptors just under the skins surface, which allows humans to detect if a surface is smooth, rough, hot, cold, and conveying pain. Force feedback resists motion.2 Both tactile feedback and force feedback are crucial to the success of carrying out surgical procedures. There are numerous surgical procedures where haptic technology will play a key role in the future. Specific procedures that may best utilize haptic technology include needle insertion (epidurals), laparoscopic surgery, endoscopies, endovascular procedures, and arthroscopic procedures. Below is a current haptic technology device currently manufactured by Force Dimension in Switzerland.
1 Coles, Timothy, Dwight Meglan, and Nigel John. “The Role of Haptics in Medical Training Simulators: A Survey of the State-of-the-Art.” IEEE Explore. 28 April 2010. 2 Ibid.
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Emerging visualization technologies will play an important role in endoscopic procedures. Endoscopy, and specifically endoscopic visualization, occupies a very large section of the medical device market worldwide. There are clear and observable drivers for the endoscopic visualization market. First, the general population is aging. With this aging comes an increased dependency on the healthcare system to keep the population as healthy as possible and a focus on disease prevention. The increased healthcare need correlates to an increase in interest for minimally evasive procedures and surgical techniques, i.e. endoscopy. For the patient, endoscopic procedures are less risky, painful, and recovery time is decreased in relation to traditional surgical procedures. For the healthcare provider, endoscopic procedures also are beneficial. These procedures tend to carry lower costs than traditional techniques, due to various factors including sedation elimination, reduction in time of stay, and changes of venue for the procedure.3 Further, as the population age increases, so does the occurrence of cancer.
Note: Figure 2 addresses these procedures in the United States
3 Growing Trend Towards Minimally Invasive Surgery – A Potential Market to Exploit. Frost & Sullivan. November 2008.
Figure 1; Source: Force Dimension
Figure 2: Number of Endoscopic Procedures by Age, 2001-‐2005
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PROJECT SCOPE
It is the understanding of Harrison Hayes that Company XYZ is seeking to expand its Portfolio of Initiatives outside its current Stapling and Instrumentation classes. Harrison Hayes will perform a white space research project for Company XYZ focusing on Information Guided Surgery. Harrison Hayes will provide primary and secondary market research centered on Information Guided Surgery, specifically focusing on opportunities and technologies related to providing intraoperative information to surgeons that aid in clinical decision-‐making. These technologies are specialty agnostic, which will require Harrison Hayes to focus on a multitude of surgical specialties that include general, colorectal, GYN, and thoracic surgery. Additionally, Harrison Hayes will provide information that includes visualization in Brazil, China, India, and Russia (emerging markets) and the sensing of anatomical structures and tissue properties in the US and EU-‐5 (developed markets). This research project will provide device solution to the discovered market needs.
OBJECTIVES
The primary objectives for this project, as provided by Company XYZ, consist of the following four items:
1. Harrison Hayes to provide a prioritized list of unmet needs relative to Information Guided Surgery by specialty. Specialty areas to include general, colorectal, GYN, and thoracic surgery.
2. Assessment of clinician feedback, especially focusing on perceived and newly discovered needs.
3. Construction of a Short-‐Term, Intermediate-‐Term, and Long-‐Term, opportunity map.
4. Identification and assessment of market competitors and potential joint venture partners.
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In addition to these overall project objectives, Harrison Hayes will seek to fulfill the specific project objectives as outlined below:
• Identification of current unmet needs relating to Information Guided Surgery across numerous surgical specialty areas.
• Overall assessment of currently available haptic technologies relating to Information Guided Surgery and Intraoperative Information.
• Identification of emerging technologies relating to Information Guided Surgery and assessment of how this may affect the future of the market.
• Assessment as to which identified technology or opportunity may best enhance the value of Company XYZ’s core products
• Assessment as to which identified technology or opportunity may lead to safer and more efficient patient care.
PROJECT IMPLEMENTATION
Overview Harrison Hayes proposes to begin this project with a “project kickoff meeting” with the Company XYZ project team in order to conduct due diligence and review currently available information. The primary purpose of this meeting is to verify the scope and objectives of the assignment, answer questions, review the timeline, and overall project expectations. Harrison Hayes actively engages our clients in collaborative, interactive dialogue throughout the project. Harrison Hayes suggests weekly meetings with the Company XYZ project team to review and assess the direction and progress of the assignment.
Project Management As previously noted, Fabian Panduro will serve as the Project Manager and Key Contact Person for this engagement. Mr. Panduro will schedule all conference calls on behalf of Harrison Hayes and provide all correspondence materials to the Company XYZ project team.
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Timeline and Milestones Key milestones for this project will consist of the following:
• Project Kick-‐Off Meeting • Development of a Key Innovation Leader and Key Customer Study
Guide/Questionnaire • Approval of Study Guide/Questionnaire • Approval of Interviewees • Performance of Interviews • Delivery and Presentation of Final Report
Harrison Hayes will deliver the Final Report no later than September 30, 2016, or earlier as noted by Company XYZ.
Final Deliverables Upon completion of this engagement, Harrison Hayes will provide a Final Report in PowerPoint format and all audio recordings. These recordings will house all qualitative interview data. Harrison Hayes will also provide a list of all of the interviewees, complete with their C.V.s.
RESEARCH METHODOLOGY
For this project for Company XYZ, Harrison Hayes recommends utilizing two primary research modules and secondary research. Primary Research Module I will consist of a proprietary panel of Key Innovation Leaders (KILs) recruited specifically for Company XYZ. Key Innovation Leaders are market futurists and well-‐respected in their industry. Primary Research Module II will include a project specific panel of Key Customers. Key Customers for this project will consist of leading surgeons currently practicing in Brazil, China, India, and Russia. Secondary research will allow Harrison Hayes to examine the current Information Guided Surgery technology that is available and how it has evolved over the past three (3) to five (5) years. This methodology will enable Harrison Hayes to properly create a market map for future innovation. Secondary research, coupled with the qualitative, primary research will best allow Harrison Hayes to assess and outline emerging trends related to Information Guided Surgery. Subsequent sections will outline each of the recommended methodologies for this project.
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PRIMARY RESEARCH Module I: KILs
Primary Research Module I will be comprised of a proprietary panel of Key Innovation Leaders recruited exclusively for Company XYZ. This primary research module will seek to identify and map the short-‐term, intermediate-‐term, and long-‐term opportunities relating to Information Guided Surgery market for Company XYZ on a global basis. Additionally, this research module will provide information regarding emerging technologies that may serve as potential acquisition opportunities for Company XYZ. Harrison Hayes will examine futuristic trending and technologies as they pertain to the to the global Information Guided Surgery market. This primary research module begins by concurrently identifying and recruiting a customized panel of Key Innovation Leaders (Tables 1, 2) and developing a project specific KIL study guide/questionnaire. KILs are recognized industry experts, surgical product innovators and entrepreneurs, academic researchers, and thought leaders who have deep insight into novel and innovative market opportunities and technologies relating to Information Guided Surgery across a wide variety of surgical specialties. We will look to these Key Innovation Leaders to provide valuable insight into market and economic impact; market entry, penetration, acceptance, and expansion and their related barriers and inhibitors; market transition; adoption drivers and inhibitors; competitive intelligence and reaction within each ideated and identified space.
The KIL study guide/questionnaire will be developed through a collaborative effort with Company XYZ in order to ensure that the focus of this project is being properly addressed. The study guide/questionnaire is to be used as a platform for exploration and discussion. All interviews will be conducted directly by a select member of the Harrison Hayes Market Research Team who has the autonomy to probe deeper and maneuver through unique issues that arise during discussion with the Key Innovation Leaders – what we refer to as improvisational interviewing. Our Research Team is able to select the most appropriate questions to ask each Key Innovation Leader due to our extensive knowledge and involvement with the project’s goals. These interviews are conducted individually, which allows us to focus directly on the expertise that each Key Innovation Leader possesses. Improvisational interviewing yields valuable qualitative interview data unlike structured interview surveys. Instead of merely moving from question to question, our Research Team is able to adapt based on Key Innovation Leaders’ responses to questions, thus obtaining additional insight.
Once each KIL has been interviewed individually, Harrison Hayes will review the interview data and select the Key Innovation Leaders with polarized and divergent points of view. We will then separate these individuals into dyads, triads, and quadrads and moderate the groups. This methodology allows us to focus on the strength and validity that each Key Innovation Leader possesses and the panel as a whole.
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Note: Key Innovation Leaders may not necessarily reside or be practicing surgeons in Brazil, China, India, or Russia. The purpose of Module I is to identify emerging technologies and future market needs.
PRIMARY RESEARCH KILs
Table 1: Examples of Key Innovation Leaders
• Visualization Experts
• Medical, Technology and Healthcare Futurists
• Venture Capitalists focusing on Medical Devices
• Academic Researchers in Medical Devices
• Executives of Current Players in the Information Guided Surgery Market
• Experts in Haptic Technology
• Software Engineers relating to Surgical Devices
• Healthcare Technology Innovators Table 2: Potential Key Innovation Leaders
Person’s Name Title/Expertise
Adiran Concannon Sr. Software Engineer at Olympus
Austin T Moore Total Hip Replacement Innovator
Barbara N Lubash
Barbara's career as an operating executive and venture capital investor has included direct experience with provider, payer, and health care IT organizations throughout the US, working under a broad range of reimbursement/payment arrangements. Prior to co-‐founding Versant Ventures, Barbara was a Venture Partner at Crosspoint Venture Partners.
Bob Heubel Developer Evangelist, Haptics at Immersion Corporation
Charles E Larsen
As a co-‐founder of Accuitive Medical Ventures, Charlie brings over 35 years of operating experience, as well as expansive technical understanding and experience in the medical device industry. Charlie was a co-‐founder of Novoste Corporation with Tom Weldon where his efforts as a director and executive were critical to its ultimate success. Charlie co-‐founded The Innovation Factory and serves as its Vice Chairman. Through his role at The Innovation Factory, he is co-‐founder of AcuFocus, LipoSonix, Cerebral Vascular Applications (CVA), NeoVista, Neuronetics, Cellutions, OsteoLign, AqueSys and Halscion. He holds over 20 issued U.S. patents on medical devices.
Christophe Ramstein Chief Technology Officer & Sr. Vice President Engineering and Research at Immersion. Co-‐Founder of Haptic Technologies, Inc
David Colvin Director of Marketing; General Surgery at Gyrus ACMI of Olympus
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Person’s Name Title/Expertise
David Feygin Director, Strategic Innovation, Medical Surgical Systems BD
Dr. David W. Schloerb
Development of Hardware and Software related to haptics. Currently writing the application software for a virtual haptic map that the MIT Touch Lab is developing as an aid for the blind
Elliott Rothberg Director, R&D Planning and Innovation at Olympus
Eric Halvorson Vice President, Interventional Respiratory at Olympus
Eric Stender Sr. Product Development Engineer at Olympus
Francois Michelon Director, Visualization and Global Services at Smith & Nephew
Garbor Fichtinger
Dr. Fichtinger serves on the Board of Directors of the International Society of Medical Image Computing and Computer Assisted Interventions and the editorial board of Medical Image Analysis. He is a scientific reviewer for leading journals, conferences, publishers and research funding agencies. His specialty is image-‐guided needle-‐based percutaneous surgery, with a strong focus on interventional oncology applications. He is a strong proponent of sharing open source software systems and platforms in interventional oncology research, a theme that he will continue to advocate as a CCO Chair.
Jennifer Janssen Director, Business Development & Licensing at Immersion
Jerome H Grossmann
Dr. Grossman is Director, Harvard/Kennedy School Health Care Delivery Policy Program, Center for Business and Government, John F. Kennedy School of Government. He serves as a director/trustee of a number of organizations including: The Mayo Clinic Foundation, Penn Medicine (University of Pennsylvania Medical School and Health System), the Stryker Corporation, Landacorp, and the Committee for Economic Development. His past services include the Board of the Federal Reserve Bank of Boston from 1990 to 1997 serving as chairman from 1994 to 1997, Wellesley College and the Massachusetts Institute of Technology.
Joe Wisnewski VP, SW engineering SensAble Technologies
John A Slattery CFO -‐ The Vertical Group
John Cole Sr. Software Engineer at Intuitive Surgical
Keith Carlton Director, Visualization Technology at Boston Scientific Neuromodulation
Kenneth H Buetow
Chief, Laboratory of Popular Genetics, National Cancer Institute; Associate Director, Bioinformatics and Information Technology; Director, NCI Center for Biomedical Informatics and Information Technology (CBIIT)
Kurt D Newman
Board of Directors MICCAI. Board of Commissioners of the Joint Commission on Accreditation of Health Care Organizations, a past member of Board of Governors of American Pediatric Surgery Association, and former Chair of the Surgery Section of the American Academy of Pediatrics
Litao Yan Sr. Visualization Engineer at GE Healthcare
Mandayam A Srinivasan Director & Sr. Research Scientist at MIT's Touch Lab (Laboratory of Human and Machine Haptics
Mark Fletcher Sr. VP Surgical Technologies at Medtronic
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Person’s Name Title/Expertise
Mark Hirsch Adobe Systems -‐ Enterprise Solutions & Innovation Strategy
Ned Jastromb Sr. Product Manager, Advanced Bio-‐Systems -‐ Nikon Instruments
Nicholas Ayache
Research Director at INRIA. Current research interests are in biomedical image analysis and simulation. This includes the analysis of medical and biological images with advanced geometrical, statistical, physical and functional models, the simulation of physiological systems with computational models built from biomedical images and other signals, and the application of these tools to medicine and biology to better assist prevention, diagnosis and therapy of diseases
Nigel M de S. Cameron President, Institute on Biotechnology and the Human Future Patrick O'Grady Sr. Embedded Software Engineer at Intuitive Surgical
Prasad Upadrasta Sr. Engineer, Surgical Simulation at Intuitive Surgical
Renata G Bushko Director -‐ Future of Health Technology Institute
Richard B Emmitt General Partner -‐ The Vertical Group
Richard Bucholz
He fabricated a neurosurgical navigational system in his home workshop in 1990 which, following further development with Kurt Smith, DSc, eventually became the StealthStation. His first patent on the system was filed in 1990 and issue in 1996, and an additional eight patents, having to do with correction of tissue shift during surgery and alternative techniques for image registration, have been granted. Other patents describing the design of intraoperative computer networks and proton beam therapy are pending. Dr. Bucholz is a member of the World Academy of Biomedical Technologies, the International Society for Optic Engineering, and the Institute of Electrical and Electronics Engineers. He has been awarded the James B. Eads Award for innovation in engineering and technology by the Academy of Science of Saint Louis. Currently, his laboratory is pursuing the realtime intraoperative delivery of information via navigational systems, and an online dissection atlas as an initial demonstration of this technology
Robert Martin Acting Director, National Center for Public Health Informatics
Sankhesh Jhaveri Visualization and Computer Vision Laboratory at GE Global Research -‐ Software
Suvranu De Director, Center for Modeling, Simulation and Imaging in Medicine (CeMSIM)
Terry Peters Robarts Research Institute -‐ Co-‐Chair of MICCAI 2016
Thomas D. Weldon
Chairman, Managing Director, Co-‐Founder of Accuitive Medical. As a co-‐founder of Accuitive Medical Ventures, Tom brings over 25 years of operating experience, as well as critical fundraising skills in the medical device industry. Tom co-‐founded the medical device incubator The Innovation Factory (TIF) and serves as its chairman. He was also a co-‐founder and chairman of Novoste Corporation, the intracoronary radiation therapy company. He was chairman and CEO of Novoste from its inception in 1992 and led the company through its initial public offering in 1996.
Thomas J. Fogarty Creator of the Ballon Embolectomy Catheter
Tony M. Chou General Partner -‐ The Vertical Group Umesh Garg Sr. Enterprise Architect at Intuitive Surgical
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Person’s Name Title/Expertise
William G Plested President-‐Elect World Healthcare Innovation and Technology Congress
William J. Link
Bill Link specializes in early-‐stage investing in medical devices at Versant. Prior to co-‐founding Versant Ventures, Bill was a general partner at Brentwood Venture Capital. He has a proven record of building and operating large, successful medical product companies. With extensive knowledge of medical devices, particularly in ophthalmology, his operating experience spans more than 23 years in general management in the healthcare industry. Perhaps Bill's greatest operational success was as founder, chairman and CEO of Chiron Vision, a subsidiary of Chiron Corporation specializing in ophthalmic surgical products, which was sold to Bausch and Lomb in 1997. Prior to Chiron Vision, Bill founded and served as President of American Medical Optics (AMO), a division of American Hospital Supply Corporation, which was sold to Allergan in 1986. Later Bill served on the Board of AMO's successor company, Advanced Medical Optics. AMO was acquired by Abbott in 2009
Table 3: Sample Questions for Key Innovation Leaders (Note: Additional
questions will emerge as the project moves forward)
1. What future role do you see visualization and haptic technologies being used in the medical/surgical realm? How is this different from their use today?
2. What do you see as the major research breakthroughs, new products, or technologies influencing visualization and haptic technologies in healthcare? Explain.
3. Do you foresee any macro-‐trends emerging? What impact will they have?
4. How will advances in surgical procedures affect visualization and haptic technologies in the future? Positively? Negatively? Explain.
5. How could these technologies better benefit the surgeon? The patient? Healthcare market as a whole?
6. What are the challenges affecting haptic technologies and visualization techniques in surgery?
7. How do you view the future role of Information Guided Surgery? Is this positive or negative?
8. Where do you believe Information Guided Surgery will have the greatest effect? Global region? Surgical procedure? Medical training? Explain.
9. What disruptive technologies do you foresee most affecting the current Information Guided Surgery market? Is this a “game changer”?
10. What current technologies are being used outside of healthcare that may be implemented/modified within medical procedures?
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PRIMARY RESEARCH Module II: VOC
In Primary Research Module II, Harrison Hayes will conduct a Voice of the Customer study. Key Customers for this project will consist of leading practicing surgeons within Brazil, China, India, and Russia across a variety of surgical specialties. Surgical specialties will include general, colorectal, GYN, and thoracic surgery. Voice of the Customer studies measure current unmet needs and near-‐term emerging opportunities as it relates to the Information Guided Surgery market. Based on feedback from these Key Customers, Harrison Hayes will be able to create a prioritized list of unmet needs relating to Information Guided Surgery. In addition to the identification of unmet needs, these Key Customers will provide invaluable insight regarding current products and companies within the space. Note: Potential Key Customers can be found in Table 4. Harrison Hayes will begin Primary Research Module II through the identification and recruitment of expert surgeons currently practicing in Brazil, China, India, and Russia and developing a project specific Voice of the Customer (VOC) Study Guide/Questionnaire. The VOC Study Guide/Questionnaire will, similar to the KIL Study Guide, be developed in conjunction with Company XYZ to ensure the focus of the project is properly addressed. The VOC Study Guide/Questionnaire is to be used as a platform for exploration and discussion with each Key Customer. All interviews will be conducted directly by an applicable member of the Harrison Hayes Market Research Team utilizing improvisational interviewing where the Team has the autonomy to probe deeper and maneuver through unique issues that arise during discussion with the Key Customers. Unlike the Key Innovation Leader interviews, these Key Customer interviews are only conducted individually. Note: Sample VOC Questions can be found in Table 6.
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PRIMARY RESEARCH Key Customers
Table 4: Potential Key Customers (Note: Key Customers will come from Brazil, China, India, and Russia)
Person's Name Title/Expertise
Manohar G Nariani Association of Colon and Rectal Surgeons of India
Jian Ping Wang Chinese Association of Colorectal Surgery
Parvez Sheikh President, Congress of Asia-‐Pacific Federation of Coloproctology.
Zhi Xiuyi, MD Thoracic Surgery, Beijing Medical Association branch chairman Thoracic Surgery, Xuanwu Hospital, Capital University of Medical Director
He Jianxing, MD
Guangdong Medical Association of Thoracic and Cardiovascular Surgery Branch Vice Chairman First Affiliated Hospital of Guangzhou Medical College, Dean and Director of Thoracic Surgery.
Lee Hui, MD
Thoracic Surgery, Beijing Medical Branch Vice Chairman Beijing Chaoyang Hospital, Capital University of Medical Director of Thoracic Surgery
Zhang Morrison, MD Thoracic and Cardiovascular Surgery, Tianjin Medical Association branch chairman. Thoracic Surgery, Tianjin Chest Hospital, Director.
Jiang Gening, MD
Director of Thoracic Surgery, Shanghai Pulmonary Hospital Chinese Medical Association of Thoracic and Cardiovascular Surgery Branch members.
Zhao Hang , MD
Hospital, Shanghai Chest Hospital, Director of Thoracic Surgery, Chinese Medical Association of Thoracic and Cardiovascular Surgery Branch members.
Liu Lunxu, MD Sichuan Institute of Thoracic and Cardiovascular Surgery, Vice Chairman Thoracic Surgery, West China Hospital of Sichuan University, Director.
Liu Deruo, MD Ministry of Health, China-‐Japan Friendship Hospital, Beijing Thoracic Surgery Director. Thoracic Surgery, Beijing Medical Branch Vice Chairman.
Li Danqing , MD
Beijing Union Medical College Hospital, Chinese Academy of Medical Sciences, director of thoracic Surgery. Thoracic Surgery, Beijing Medical Branch Vice Chairman.
Zhou Qinghua , MD Tianjin Medical University General Hospital Thoracic and Cardiovascular Surgery, Tianjin Medical Branch Vice Chairman
Wang Ruwen, MD
Daping Hospital, Third Military Medical University, Director of Thoracic Surgery, Chongqing Medical Association branch chairman of Thoracic and Cardiovascular Surgery.
Fu Jianhua, , MD
Zhongshan University, Guangzhou Tumor Hospital, Vice President and Director of thoracic Surgery. Chinese Medical Association of Thoracic and Cardiovascular Surgery Branch Youth Committee members.
Hsu Lin, MD
Jiangsu Cancer Hospital, Vice President and Director of thoracic Surgery Medicine, Jiangsu Province branch of Thoracic and Cardiovascular Surgery, Vice Chairman.
Zhang Linyou, MD
Second Affiliated Hospital of Harbin Medical University, Director of Thoracic Surgery, Heilongjiang Branch of Medicine Thoracic and Cardiovascular Surgery, Vice Chairman.
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Person’s Name Title/Expertise
Wan-‐Nian Liang, , MD
Executive Deputy Director of Beijing Health Bureau, Deputy Director of Preventive Medicine Professional Committee Beijing Branch, Editor of Chinese Journal of Epidemiology.
Wang Tian-‐You, MD President of the China Thoracic Association and Chief Physician and, MD of Capital Medical University.
Rajiv Ranjan Das Vice President of The Association of Colon and Rectal Surgeons of India.
Gutenberg Nobrega da Silva, MD President of the Regional North/Northeast Colorectal Society of Brazil.
Ronald Coelho Salles, MD President of the East Regional Colorectal Society of Brazil.
Renato Pinho Valmassoni, MD President of the Society of Colorectal Surgery in Brazil.
Ruben Fernandez Oleques, MD President of the Gaucho Association of Coloproctology in Brazil.
K S Mayilvaganan, MD President -‐ Association of Colon and Rectal Surgeons of India
Rajiv Ranjan Das, MD Vice President -‐ Association of Colon and Rectal Surgeons of India
Rajesh Modi, MD Akola Endoscopy Center & Akola Obstetrics & Gynaecological Society
Nirmal Gupta, MD President -‐ Ajmer Obstetric & Gynaecological Society
Mahendra Narwaria, MD President -‐ Obesity & Metabolic Society of India
Shrihari Dhorepatil, MD Hon. President -‐ Minimally Invasive & Obesity Surgery Centre
Naresh M. Singhi, MD Consulting Surgical Gastroenterologist, Laparoscopic Bariatric Surgeon -‐ Executive Member of Obesity & Metabolic Society of India
Arun Prasad, MD Sr. Consultant Surgeon -‐ Minimal Access, GI, Thoracoscopic &Bariatric Surgery at Apollo Hospital and Executive Member of Obesity & Metabolic Society of India
Vishwas G Naik, MD Executive Member of Obesity & Metabolic Society of India -‐ Consultant Minimal Access Surgeon -‐ Kamineni Hospitals
Saeed Akhtar, MD
Dr. Saeed Akhtar has done his MBBS, MS in Gen Surgery and MCh in Thoracic & Cardiovascular Surgery from King George Medical College, Lucknow, India. Thereafter he has served in Escorts Heart Institute, New Delhi and Malhotra Heart Institute, New Delhi as Chief Cardiac Surgeon. He has been a fellow at the Thorax Centre, Uppsala University, Sweden. Presently he is serving Regency Hospital Kanpur (INDIA) as a Chief Cardiac Surgeon. Dr. Saeed Akhtar specializes in Adult Cardiac Surgery, General Thoracic Surgery and Peripheral Vascular Surgery. He has performed more than 3500 Open Heart Surgeries and approx 700 OPCAB. Currently he is working as a Chief Cardiothoracic Surgeon at Regency Hospital Ltd, Kanpur (INDIA), since April 1999.
Oleg Kshivets, MD
Thoracic surgeon & surgical oncologist at Siauliai Public Hospital. Thoracic/Abdominal Surgeon Complex and major operations on: lung, esophagus, cardioesophagus, mediastinum, stomach, pancreas, liver, colon, rectum, breast, etc.
Vladimir D. Parshin, MD President of the Moscow Society of Thoracic Surgeons. Laureate of "The Calling" Russia's best doctors.
Peter Tsarkov
Head of Department of Colorectal and Pelvic Floor Surgery. Owner of the Russian Federation Government Award for the development of surgical rehabilitation of patients with colorectal cancer. Three of his works have been awarded international prizes and diplomas. Peter Tsarkov is the author of 17 inventions, more than 190 published works, published both in domestic and foreign magazines, including the Diseases of Colon & Rectum, Hepatogastroenterology, British Journal of Surgery, Techniques in Coloproctology etc. He wrote a chapter in the book "Rectal cancer" published in Spinger. He is an invited lecturer at several international conferences (the annual international conference on the basis of Cleveland Clinic Florida (USA), the European Biennial Conference on the basis of the clinic, the Ivrea, Italy).
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Person’s Name Title/Expertise
Zaiping Jing
President, Organizing Committee of ENDOVASCOLOGY 2016 Vice President, Chinese Society for Vascular Surgery President, Society for Vascular Surgery of CPLA Chairman, Department of General Surgery & Vascular Surgery, Changhai Hospital Chairman, Shanghai Clinical Center for Vascular Systemic Diseases, P.R. China Chairman, Institute of Vascular Surgery of CPLA, P.R. China Chairman, National Key Department of Vascular Surgery, P.R. China
Zou Dewei President -‐ China Conference and International Lumbar Surgery
Duan Cai
M.D., Ph.D -‐ General Surgeon Shanghai 2nd Medical University; Member, Chinese Medical Association Surgery Committee in Shanghai; Editor of “China Surgery Magazine”, “Liver and Gallbladder Surgery”; Specialized in surgery on gallbladder and pancreas
Zhongxin Zhao
Zhongxin Zhao is a general surgeon severs at SHE who specializes in liver, gall and pancreas surgery, in particular liver surgery, portal hypertension and liver transplantation. His research interests include surgery in liver, gall and pancreas, liver transplantation and xenotransplantation. He is a chief physician and the director of surgery teaching & research section. In addition to caring for patients, he has carried out 5 provincial level research projects and has received Shanghai Medical Technology Award. He is the author, translator and co-‐author over numerous publications. He also has published more than 30 research papers in domestic and international journals, of which 6 have been included in SCI
Yaxin Zheng
Chief physician in the department of general surgery; Specialized in surgical treatment on calculus of bile duct, liver tumors, portal hypertension and retroperitoneal tumor, as well as radical surgery for gallbladder carcinoma and cholangiocarcinoma.
Aiguo Lu
Dr. Aiguo Lu is chief physician in the department of general surgery. He is an expert specializing in the diagnosis and treatment of gastrointestinal tumor including radical operation for carcinoma of stomach and rectal carcinoma.
Jose Ribas Milanez De Campos "The society of Thoracic Surgeons Expert Consensus for the Surgical Treatment of Hyperhidrosis"
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Table 5: Sample Questions for Selected Key Customers
1. What are your overall thoughts on Information Guided Surgery? What role does it play in your surgical procedures?
2. How do you view Information Guided Surgery in your region? How frequently do you use it?
3. What are the current unmet needs relating to Information Guided Surgery, in your opinion? How would you recommend addressing these issues?
4. Is there currently an “ideal” Information Guided Surgery system/technology available? What is it?
5. Describe the “ideal” Information Guided Surgery system. What elements would it include? What elements would it omit?
6. What Information Guided Surgery systems are you currently using? Pros? Cons? Why this system?
7. How do you foresee using, or better utilizing Information Guided Surgery in the near-‐future? Explain.
SECONDARY RESEARCH To complement our primary, qualitative research modules, Harrison Hayes will concurrently perform secondary research from Public, Syndicated, and our own proprietary, internal databases. Harrison Hayes believes secondary research, along with our partnership with the Company XYZ project team, will provide useful data related to technology and opportunities within the Information Guided Surgery Market over the past three (3) to five (5) years. This secondary research will best allow Harrison Hayes to identify emerging trends and provide an overall analysis of the market as a whole. Secondary research will also provide a level of validation to the qualitative research collected from the Key Customer interviews. Secondary research will be particularly useful in obtaining a deep understanding of the current competitive landscape and in the identification of potential joint venture partners. Secondary research used to supplement our primary research includes:
Syndicated Materials Harrison Hayes has established relationships with a variety of syndicated information providers relating to haptic technology and the overall Information Guided Surgery market.
Publicly Available
Harrison Hayes conducts significant market research within the public domain. We have expertise in identifying key market data through journal and trade publications, online subscription databases, market research data hubs, proprietary data sources and archival research.
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Internal One of Harrison Hayes’s key assets is the market research previously conducted that resides “in-‐house”. Our ability to leverage this data significantly reduces the time constraints associated with providing the required deliverables.
TRENDSPOTTING
Trending analysis is focused on identifying the potential for Information Guided Surgery market entry into one or more of the countries (Brazil, China, India, and/or Russia). Harrison Hayes will seek to identify market entry opportunities based on challenges and opportunities, pricing, profitability, unmet needs, regulatory hurdles, potential partners, and competitive reaction. Trending analysis requires primary and secondary research to uncover the previously mentioned. We do not guess trends; we detect, analyze and evaluate them to make evidentially supported projections. For this project, our challenge is to determine the useful data regarding the current best information on Information Guided Surgery on a global basis, specifically relating to market entry in Brazil, China, India, and Russia. Since Company XYZ’s proprietary panels of Key Innovation Leaders and Key Customers have significant insight into the Information Guided Surgery Market, they are on the cutting edge of trends and function as valuable resource for understanding real-‐world market evaluation and assessment. Trending research is an integral part of a successful research initiative, and Harrison Hayes is confident our trend spotting methods will afford Company XYZ the necessary insight on industry dynamics regarding successful market entry in the specified regions outlined in this proposal.
QUANTITATIVE STUDY
Concept Validation Research Harrison Hayes believes that when expanding business models, product lines and/or introducing new innovations, a holistic view of receptivity and validation is required. Therefore, Harrison Hayes recommends conducting a three-‐part quantitative and qualitative research validation study to capture the key constituents in the potential Company XYZ sales channel within the targeted regions.
Part 1 Quantitative Distribution/Channel Survey
The first research validation survey consists of a 200 dealers/distributors and purchasing customers (Company XYZ consumers and non-‐consumers) regarding their views on Company XYZ’s proposed entry into the Information Guided Surgery space.
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Part 2 Quantitative End-‐user Confirmation Second, to further validate the ideated business model, product and platform
concepts, we propose surveying 200 ultimate end-‐users who might help develop, process, and/or distribute Company XYZ’s products in order to gain validation for entering new markets and developing new products. For this specific project for Company XYZ, Harrison Hayes will focus specifically on practicing surgeons in Brazil, China, India, Russia, United States, and 5 EU. Based on the practicing surgeon’s receptivity to Information Guided Surgery and personal time constraints, Harrison Hayes will make specific recommendations as to which methodology (telephone or internet surveys) would be most applicable. Harrison Hayes will construct survey questionnaires focused on validating the Information Guided Surgery business model and platform technology through a battery of questions used to determine the receptivity and practicality.
Part 3 Final Qualitative Key Innovation Leader Confirmation
Concurrent with the Quantitative Research, Harrison Hayes’s Principals and Market Research Team will go back to a select group of Company XYZ’s Proprietary KILs (selection based on their specialties) to validate the findings and feedback generated during the project.
Since these selected KILs are familiar with this project from the beginning, we believe they will be able to participate in additional disruptive platform and concept application discussions, through a joint teleconference which would also include a designated Company XYZ team and Harrison Hayes principals.
KIL feedback will then be integrated with the Quantitative Research results to arrive at the most appropriate and viable course of action for Company XYZ to best enter the Information Guided Surgery market.
PROJECT DELIVERABLES
The final deliverable for this project is an internalized strategy report (Strataject Report™) The Strataject Report™ is the culmination of all research and activities which have taken place over the duration of the engagement. This report will outline our findings based upon primary and secondary research. Harrison Hayes will specifically outline the current unmet needs relative to Information Guided Surgery by surgical specialty. Further, Harrison Hayes will create a stack ranking of these unmet needs based upon feedback received from the Key Customers. Note: This stack ranking will be from most important/immediate unmet need to least important. Additionally, the Strataject Report™ will provide an opportunity map of short-‐term,
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intermediate-‐term, and long-‐term opportunities. Finally, the Strataject Report will provide a thorough market landscape analysis of competitors and potential joint venture partners. This report may also serve as a deployment roadmap for entering the Information Guided Surgery market based upon the research collected throughout the duration of the engagement. Harrison Hayes will schedule a time to present and discuss our findings and recommendations to Company XYZ. During this meeting we will discuss in detail our front-‐end research, our findings, and our recommendations for Company XYZ in understanding the unmet needs, challenges, opportunities, and direction of the Information Guided Surgery market supported by the research activities conducted over the course of this engagement.
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Company XYZ, Plc. Harrison Hayes, LLC Signature: _________________________ Signature: _________________________ Name: _____________________________ Name: _____________________________ Title: ______________________________ Title: _______________________________ Date: ______________________________ Date: _______________________________
