Innovation Institute Miami, a venture led by Baptist Health South Florida and i360medical, a health technology innovation, IP, development and commercialization company, announced the launch of an open pipeline that allows inventors to submit ideas for healthcare advancements.
The initial scope includes medical devices (implantable and non-implantable), technology development, applications linked to devices and other process improvements with a focus on solving unmet needs in the patient experience. Clinicians, inventors and other entrepreneurs will have the opportunity to have their ideas evaluated and, in some cases, developed by i360medical’s team of engineering, development, industry and commercialization specialists.
This venture is part of an effort to develop a culture of innovation in South Florida and beyond that will positively impact human health.
“So many great medical ideas never leave the room because most people neither have the know-how nor the resources to bring their ideas to fruition. Our collaboration with i360medical allows us to drive improvements in patient care by creating an innovation pipeline, from concept to commercialization,” said Barry T. Katzen, M.D., founder and chief medical executive of Miami Cardiac & Vascular Institute at Baptist Health. “We look forward to the opportunity to help turn ideas into technological advancements that allow physicians, surgeons, clinicians and staff to treat patients with the latest tools, devices and technologies available,” added Katzen.
As one of Europe’s leading commercialization companies, i360medical will provide globally recognized expertise to evaluate ideas submitted by inventors, whether from healthcare professionals, researchers, clinicians, engineers or other specialists.
Commenting on the partnership, Derek Young, CEO of i360medical said: “We are proud and delighted that Baptist Health South Florida and Miami Cardiac & Vascular Institute have chosen us as their strategic partner and we look forward to working with Dr. Barry Katzen and the Baptist Health team over the coming years. We are confident that our partnership will identify a number of leading medical device concepts that can be developed to commercialization in the U.S. and abroad. This announcement is a further reinforcement of the requirement for greater collaboration in healthcare innovation globally. It is clear that Ireland’s growing reputation as a global leader in the area of medical devices can influence the enhancement of patient care. The biggest challenge in medical innovation is being able to identify unmet clinical needs and to bring an idea from concept to commercialization and all of the stages between that. We have created a proven model which allows us to work with healthcare organizations to identify and cultivate an innovation ecosystem for medical device concepts and then work with our partners to develop the concept further and bring it to the market and patient bedside.”
About Baptist Health South Florida
Baptist Health South Florida is the largest healthcare organization in the region, with ten hospitals (Baptist Hospital, Baptist Children’s Hospital, Bethesda Hospital East, Bethesda Hospital West, Doctors Hospital, Fishermen’s Community Hospital, Homestead Hospital, Mariners Hospital, South Miami Hospital and West Kendall Baptist Hospital), more than 40 physician practices, 50 outpatient and urgent care facilities, Baptist Health Medical Group, Baptist Health Quality Network and internationally renowned centers of excellence including Miami Cardiac and Vascular Institute and Miami Cancer Institute. A not-for-profit organization supported by philanthropy and committed to our faith-based charitable mission of medical excellence, Baptist Health has approximately 18,500 employees and more than 3,000 affiliated physicians. Baptist Health South Florida has been recognized by Fortune as one of the 100 Best Companies to Work For in America and by Ethisphere as one of the World’s Most Ethical Companies. For more information, visit BaptistHealth.net/newsroom and connect with us on Facebook at facebook.com/BaptistHealthSF and on Twitter and Instagram @BaptistHealthSF.