MTPConnect and MTAA sign MoU

MTPConnect — the Medical Technologies, Biotechnologies and Pharmaceuticals Industry Growth Centre — and the Medical Technology Association of Australia (MTAA) — a national body representing companies in the Australian medical technology industry — have signed a memorandum of understanding (MoU) to jointly boost the Australian medtech industry.

A report from MTAA stated that the medtech industry in Australia employs over 19,000 high-skill workers, across 500 companies, the majority of which are small to medium enterprises (SMEs), and is worth over $10 billion in economic contributions — making it a major contributor to Australia’s medical technology, biotechnology and pharmaceutical (MTP) sector in Australia.

Sue MacLeman, CEO of MTPConnect, said, “As outlined in the MTPConnect Sector Competitiveness Plan, we are aiming to transform the SME subsector, supporting its growth to larger, more stable and successful companies. SMEs are an important part of the innovative medtech ecosystem, and it is important that our organisations collaborate to support and advocate on behalf of the sector to encourage positive contribution to growth, particularly in relation to recent government reviews and initiatives such as the $20 billion Medical Research Future Fund.”

Ian Burgess, CEO of MTAA, said, “This partnership will help to direct the limited resources to where they will have the greatest outcome for patients through increased clinical trials, research and development, market access and work towards overcoming unnecessary regulations.

“Working in partnership with MTPConnect we look forward to ensure our voice is heard by decision-makers to identify opportunities to grow our industry and lead to more commercial successes.”