Silicon Valley recognizes the power and potential of the healthcare markets, and is coming to play. The medical device industry must quickly adapt to the new digital paradigm, or some of its biggest players like General Electric and Medtronic could get squashed by the likes of IBM, Apple and Samsung – or so said a panel of venture capitalists at this week’s Advamed 2015 conference in San Diego.
“This is not your father’s healthcare company competition,” said Leslie Bottorff, managing director of the healthcare arm of GE Ventures. “The barbarians are at the gates. You don’t want to show up with a knife to a gun fight. The big companies and the small companies need to say, ‘What do we have to do to compete with these guys?’”
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