#1 Magic or Medtech - How to know you're building the right thing

Plus: The future of EMRs, Sony's robot surgeon, medtech job openings, and more

May 17, 2024

Medtech is a weird industry. We’re dealing with humans, yet most of the time our focus is on algorithms and polymers and interoperability.

So it’s refreshing to talk to people like Sydney Robinson of Vessl Prosthetics. She and her team are focused on humans: they’re on a mission to make lower limb prosthetics more comfortable.

Comfort is an underrated priority. Humans don’t need to be comfortable. But we want comfort so badly that it may as well be a need.

Besides, in the case of amputees, comfort and health are tightly correlated - a bad socket fit can result in very serious blistering.

It’s hard to know whether the product you’re building is the right product. Medtech companies would do well to learn from Sydney’s perspective.

The future of EMRs

Christina Farr asks "What is Epic going to look like a decade from now?”

I doubt you meant to ask for my opinion, but here we are. You’ll get different answers from different people with different incentives. I think they’re all going to be right in some ways and wrong in others.

My opinion, TLDR;

I think the future landscape of EMRs looks more or less the same as it always has. Dominated by a few big names, littered with integrations and niche platforms, difficult to connect - but now with AI.
That or AI capabilities go hockey stick. Then all bets are off.

I’ve been a software developer long enough to know what a decade is, so here’s my best guess: I think it will look like Epic with some new stuff taped on the side.

There will be big winners in the AI scribe, telehealth, precision medicine, diagnostic assistance, and revenue optimization spaces. There will be integrations and acquisitions and partnerships.

And it will all still be an incomprehensible cacophony. Interoperability? We’re not fixing interoperability in a decade. We’ve had three decades to fix it. I’m not even convinced there’s anything to fix.

The classic XKCD doesn’t apply here perfectly. There is theoretically one healthcare interoperability standard, for all intents and purposes. It’s a pretty good standard all things considered.

But standards don’t matter when they’re subject to creative interpretation, segmentation and plain mercantilism.

I’m not trying to be negative here. This isn’t unique to medtech. In fact, medtech gets points for seeing it as a problem to fix. That being said, I think the future landscape of EMRs looks more or less the same as it always has. Dominated by a few big names, littered with integrations and niche platforms, difficult to connect - but now with AI.

That or AI capabilities go hockey stick. Then all bets are off.

Your week in medtech

AlphaFold 3 exists, Sony has begun the robot surgeon wars, and Philips takes our breath away.

Folding expectations

So we can predict how proteins interact with other molecules now. AlphaFold 3 is out.(Kinda - no code, no executables, just a nerfed server).

It was received with… not a shrug exactly, but not the fanfare you would expect from a 50% improved molecular life simulator. I guess we’re just used to miracles now. Wake me up when it can fold my laundry.

For the interactions of proteins with other molecule types we see at least a 50% improvement compared with existing prediction methods, and for some important categories of interaction we have doubled prediction accuracy.

Wild.

Yeah, but will it play Halo?

Sony is getting into robotic surgery.

The prototype was introduced a few days ago, so it won’t be slicing up your carotid any day soon. Testing looks promising, though, so who knows… maybe one day you’ll need to sign up for a PSN account before your operation.

In February 2024, an experiment was conducted by Aichi Medical University, where surgeons and other medical practitioners that do not specialize in microsurgical procedures used the prototype and successfully created an anastomosis in animal blood vessels (diameter of approximately 0.6 mm). This is the world's first case of microvascular anastomosis achieved using a surgical assistance robot with an automatic instrument exchange function.

Your move, Microsoft.

But it’s plugged in

The FDA has issued a recall for the Philips Trilogy EVO, Trilogy EV300, Trilogy Evo O2, and Trilogy Evo Universal devices.

A software issue can cause the machines to switch off ventilation due to erroneous “loss of power” alarms while operating on battery or “battery depleted” even when it’s plugged in.

The error only occurs under some pretty specific circumstances and no one has been hurt thus far. I would say this is a win for Philips’ continuous monitoring program, but this isn’t the first recall for the Trilogy EVO line. Hopefully it’s the last.

Startup Spotlight: Vessl Prosthetics

I had the chance to talk with Sydney Robinson of Vessl Prosthetics last week. You can listen to our full conversation here.

For those of you who don’t like podcasts: Vessl Prosthetics has developed a socket for lower limb prosthetics that automatically adjusts to the natural swelling and shrinking of an amputee’s leg throughout the day.

Normally, amputees have to put on socks to accommodate the friction and chaffing that can lead to serious medical concerns if left alone.

The discomfort actually leads some amputees to give up wearing their prosthesis altogether. That seems like a problem worth solving to me.

Vessl is working with Veteran’s Affairs and prosthetists to distribute their socket while they ramp up manufacturing and finalize a funding round. If you’re interested in learning more or investing in Vessl, let me know and I can put you in touch.

Madness or Medtech - Founder’s Tip #1

Sydney said it. Talk to your users. Then talk to them again, and again, and again, and never stop.

You might think you know what you’re building… but it doesn’t matter what you think. It only matters what your users think and what the market thinks. Sometimes those are two different things and you have to satisfy both. No one said it was easy.

Jobs for you maybe?

FluidAI is hiring for Quality Control Associate and R&D Engineering Associate co-ops in Kitchener, Ontario.

Simon Fraser University is hiring a Director of WearTech Operations in Surrey, BC. Salary range is $112,681 - $134,461 CAD.

Noa Therapeutics is hiring a Research Intern in Toronto, Ontario.

Nicoya is hiring a Supply Chain Manager in Kitchener, Ontario.

Recursion Pharmaceuticals is hiring a Director of Product in Toronto, Ontario. Salary range is $198,000 - $242,000 CAD.

Arcadis is hiring a Healthcare Market Leader/Principle for a remote position. Salary range is $117,000 - $189,000 USD.

Intellijoint Surgical is hiring a QA & Regulatory Affairs Coordinator and Analyst in Kitchener, Ontario.

Virica Biotech is hiring a VP of Product Development in Ottawa, Ontario.

That’s it for this week. Thanks for reading.

Magic or Medtech