Medical device conference courting Memphis players

Last week, Life Science Tennessee and Memphis BioWorks hosted a panel from the Southeastern Medical Device Association (SEMDA) to talk about careers and an upcoming conference.

The 10th annual SEMDA Conference fosters business and educational opportunities for investors, medical device companies, medical entrepreneurs, and related industry professionals in the Southeast, and this year’s conference features pitch rounds, keynotes, academies, a gala dinner, a poster session, networking and a partnering program.

Speakers on the panel were Jim Stefansic, President of Faros Healthcare, and Laura Whitsitt, Senior VP Research and Emerging Technologies at Smith & Nephew. The event was moderated by Jason Rupp, Executive Director of The Southeastern Medical Device Association.

The first question to the speakers was, “Why Tennessee?”

"Tennessee is a hub for medical devices, and if your fresh out of school, the networking and events are important to employment,” said Whitsitt. Smith and Nephew typically looks for biomedical, material science, mechanical candidates.   

“Doing uncomfortable things is good. Finance isn't hard, take the time to get to know some of it on your own and do a little research- you don't always need an MBA," added Stefansic. He also said it is wise to research specific companies and general companies similar in size and product, to see what challenges one might face. He also encouraged learning about the FDA.

Jason Rupp took the lesson on business a step further, saying, “If you understand dating, you can understand marketing.” He also said the FDA approval isn’t as big an obstacle to medical device success as seeking reimbursement.  

All touched on how the device industry needs diversity and commented on the crowd’s diversity. They were glad to have so many women, noting there will be programming to push, advance and encourage women in the field at next month’s SEMDA event in Nashville. Laura mentioned she pushes for mentoring and STEM in schools, and Jim said to seek mentors who are direct and honest. All three recommended internships and teamwork whenever possible.

Specific device industry questions covered the unique device indicator (UDI) rule and device tax. The UDI rule requires every medical device be marked with a specific number so that they can be tracked. This has been an intensive five year project for the device makers, and they just recently received word from the FDA that they will not have to bring the old legacy devices back in, saving everyone a lot of time and money.

Parting panel words included Rupp stating, “Be not afraid, the most important lesson is that everybody is scared -- no one knows what they are doing.”

To learn more about the upcoming 10th Annual SEMDA Conference in Nashville (“Who Is Going to Pay for My Technology?” Making the Value Case to Stakeholders), visit the conference website.