Once you’ve sold your medical device company, the work of transition begins. What does your R&D team need to do to meet your acquiring company’s needs and fulfill your contractual obligations? And will they be there to carry your device across the finish line? Typically the acquirer wants to “acquire” your key team, at least for a while, but when faced with new opportunities, you can’t be assured that everyone will stay in place for the duration. Losing that knowledge can make an acquisition transition “restart” very challenging. With an outsourced R&D team, not only are you able to move your device development more quickly, you are assured of an in-place transition team for as long as necessary. This team continuity will be important to an acquirer, as they can be confident that the necessary engineering talent will continue to be available throughout the transition process. Your R&D team needs to be knowledgeable about many areas critical to the acquisition transition, and an outsourced R&D team will ensure the integrity of knowledge transfer. At REV.1 Engineering, we take the broad view from the very beginning of a project and have all the tools necessary for a smooth transition:
- History of development – With our tested, proprietary project management system, the development history is well-documented and easily accessible.
- Rationalization for materials choices – Clear documentation avoids misunderstandings and missteps in materials usage when transferring to manufacturing.
- Mitigate regulatory risk – A deep understanding of the regulatory strategy creates a smooth path toward approval.
- Transfer to manufacturing support – Manufacturing hand-off includes specifics of tooling and fixturing as well as knowledge transfer.
- Commercialization plans – Our commercialization plans begin when we begin a project – whatever your end-game is, it becomes ours as well.
In addition to this continuity of knowledge, an outsourced R&D firm is also able to work with an acquirer anywhere in the world. Whether you sell your company to an acquirer across the country or halfway around the world, with outsourced R&D, your intact team doesn’t need to be relocated. Team members can travel as needed to support the transition while core development continues. Beyond development completion, outsourced R&D is there for the life cycle of the product, keeping the history and knowledge intact. Support can extend beyond transfer to manufacturing and might include handling and documenting complaints and returns.
If you’ve got a great idea for a medical device and acquisition is your goal, we’re ready to get started. We can get your device moving … 2x Faster than if you tried to build an in-house team…. and you can look forward to smooth support for your acquisition plans. Give us a call at 951.696.3933, connect with us on LinkedIn, or send us an email at info@rev1engineering.com, and let’s get your start-up funded or acquired.
Eric & Phil