US medical device company raising $6M
The United States is the world’s largest medical device market and it shows no signs of slowing. The market is yet to experience tremendous growth. Since the past 40 years, the number of technology innovations both within and around medical devices have increased dramatically. Especially, the past 20 years have witnessed an acceleration in the sector due to the digital transformation.
Every individual all over the globe understands the importance of physical wellness. When we had a discussion with the founder of an emerging US medical device manufacturer company, we sat with them and understood their business model. Further, we conducted a quick competitive analysis and reached to a conclusion that they had the best business model in the current market as they planned to resolve many problems that current companies were not focusing on.
“When we met, we were inspired by the passion and the amount of research he had put in. The business plan revolved around solving the current problems in the market that the competitors were not focusing on and we knew that this is the thing that would set us apart and help up curate the perfect pitch to intrigue potential investors.” – Ash Narain, CMO, Marquee Equity
Great work quality The team did a great job processing a very complex blockchain based business plan and pulling together documents efficiently.
Jeff Schell, Managing Director & CTO, MindMiner
The rising prevalence of chronic diseases and the increasing geriatric population in the country are the key market drivers. The onset of chronic diseases is more commonly prevalent between the age group of 45 and 54 years. The scenario set off lucrative opportunities for both existing players and new entrants.
The U.S. medical device manufacturers market size was valued at USD 176.7 billion in 2020 and is anticipated to exhibit a compound annual growth rate (CAGR) of 5.0% over the forecast period.
Having said that, the US dollar is very strong and just one of the reasons why the medical device market is on the rise. However, the strong dollar creates challenges for American device manufacturers exporting to markets with weaker currencies.
Amidst these facts what was working for our client was – a combination of an innovative business idea and a medical device manufacturer friendly geographical location with ample opportunities of growth.
“Medical device manufacturers are moving towards improvement and innovation in the healthcare industry. We had an idea that would transform the current market. We came to Marquee Equity with an idea expecting their support to accelerate growth of our business. They didn’t just help us with the documentation process but also shared our story in the most innovative manner with the potential investors.”
– Founder, medical device manufacturer company
When the company of medical devices – manufacturer of orthopedic implants and surgical instruments contacted us, they were looking for increased engagement on the outreach campaign further resulting in a rise of $6 million worth of funds within 3 months. Our first task was to understand the business model, target audience and competition. Once we had the required data in place, we initiated the investor outreach program.
In the outreach program, we offer a unique service where we are able to effectively scale massive outreach to investors all over the world for raising startup funds. Also, it was crucial to find the right investors who are willing to mentor and partner with the founder of the firm. After making a list of those investors, we started with the email and call outreach campaign wherein we aggressively pushed out the amazing opportunity and shared the collaterals with them in real-time.
After finishing the outreach campaign, paperwork and documentation on the client’s behalf, our emails were filled with responses seeking pitch decks and for scheduling a call with the firm’s founders.
Once we entered the discussion stage, it took 3 months to raise the $6 million worth of funds.
Our work speaks for itself and we are proud of it.
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