Two new med tech incubators in the works--one with the AMA, the other Georgia Tech

Print 06 February 2015
Stacy Lawrence / Fierce Medical Devices

Early med tech innovation may get a bit of a boost with two new incubators. The American Medical Association is partnering with Chicago-based healthcare technology incubator Matter. The pair will create AMA Interaction Studio at Matter, a physical and virtual infrastructure for entrepreneurs and physicians to collaborate to develop new healthcare tech, services and products.

In addition in Atlanta, GA, the 30-year-old tech incubator the Advanced Technology Development Center (ATDC) is opening an incubator at Georgia Tech specifically for next-generation medical device companies. It has produced companies including heart failure monitoring company CardioMEMS, which sold for about $435 million last year to St. Jude Medical ($STJ).

The AMA-Matter deal is expected to enhance the interaction of practicing physicians with the process of healthcare innovation.

The AMA partnership with MATTER will create an environment where entrepreneurs can directly collaborate with and gain insights from physicians and the health care community to improve and advance technologies, products and services that will improve the health of the nation," AMA CEO and EVP Dr. James Madara said in a statement.

As for ATDC, the medical device incubator is part of a broader expansion. The medical device incubator will have a 2,500-square-foot facility that is located across the hallway from a 12,000-square-foot prototyping design and development facility for medical devices and technology known as the Global Center for Medical Innovation (GCMI). The latter will house mechanical engineering resources including high-end 3D printing, extrusion and computer numerical control (CNC) machines, capable of producing medical devices for development, preclinical testing and clinical studies.

"We've got almost $3 million worth of assets across the hallway at GCMI in terms of a machine shop and clean rooms," Georgia Tech VP Stephen Fleming said in a statement. "Proximity to GCMI, will give medical device startups access to equipment they couldn't afford on their own."

The medical device incubator will host four to 6 startups and intends to tap into local universities including Georgia Tech, Georgia State, Morehouse School of Medicine and Emory University.

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