GOING TO MINNEAPOLIS WITH MEDTECH BRIDGE
Member company: Radiobotics
December 2019, Stine Mølgaard, COO and Co-Founder of Radiobotics, visited Minneapolis with the MedTech Bridge team. The objective of the visit was to meet with investors and service providers in Minneapolis, in the area of FDA, as well as meeting a potential partner for a clinical study.
Prior to Stine's visit in December, MedTech Bridge supported a comprehensive pre-market assessment excursion with numerous customer visits. For Radiobotics, this was their second visit to the Medical Alley.
Robotics is challenging the status quo of musculoskeletal radiology. Read more about Radiobotics and their technology below where you can also find a short interview with Stine Mølgaard.
Planning the visit
6 meetings were scheduled in the course of 2 days by Program Manager, Amy. As Amy is living in Minneapolis, her network and familiarity with the Medical Alley's ecosystem ensured that all the scheduled meetings were highly relevant and tailored to Radiobotics objectives, technology and product.
"Having Amy planning everything and ensure all meetings were relevant and handled in a very professional manner is crucial for the overall success," - Stine Mølgaard, Radiobotics
How it works
• When you reach out to us, we will determine the objective and plan the day-to-day programme together, to ensure maximal output
• Where to go and whom to visit entirely depends on your purpose with the trip
• Medical Alley is a great area to network as there is high expertise and willingness to network. We can get you in contact with mentors, business partners, investors, consult for advice on different segments, customer types, etc.
• Contact the MTB team on for more info, understanding or partnerships in the US and let's get started
Orthopaedic surgeons and investment bankers
Over the course of 6 meetings, Stine met with both orthopaedic surgeons, an investment banker and potential service providers. First stop was at Twin Cities Orthopedics where we were introduced to Dr Jeff Dick. Hereafter, Amy and Stine visited HCMC, a healthcare medicine clinic, where they connected with the orthopaedic surgeon, Dr David Templeman. For the third meeting, Sarah was introduced to the investment banker and venture capitalist Todd Mortensen who is in the business of connecting people with investors through his consultancy practice. Next stop was at a potential service provider, OneLifeSciences, where we met CEO Mathew Kyle. It was further a great opportunity to get contacts in Al, radiology and general med devices. The last two meetings were with a law firm that works with startups and international clients, Ann Ladd, Intellectual Property Attorney, and Steffen Hovard, CEO and previous President for the Coloplast Group.
Outcomes: new learnings and connections
Great new contacts were established and overall the visit was extremely successful in fulfilling its purpose and objectives. Stine went home to Denmark with great new Al and radiology connections, increased knowledge on Minnesota's ecosystem and an established connection to current and future potential investors. The visit also confirmed the high interest in the technology and product that Radiobotics offers; besides being deemed very successful, US doctors considered a clinical study to be a great opportunity.
Stine Mølgaard & Todd Mortensen, Investment Banker
Radiobotics is an award-winning health tech company with a vision to automate the analysis and description of routine medical x-ray images at hospitals, with a focus on musculoskeletal radiology (MSk). Based on advanced computer vision and state-of-the-art machine learning methods, Radiobotics’ algorithms generate fully automated text reports with objective findings and conclusion, including visual overlays, to enhance consistency and make it faster and easier to make readings on routine medical x-ray images.
Interview with Stine Mølgaard
COO & Co-Founder, Radiobotics
Why did you decide to join the MedTech Bridge programme?
"Because in order to define the future of our business we need to get qualified input on our strategic considerations. We believe MTB holds that expertise. Finally, it's a huge privilege that this is supported by Industriens Fond, (which is supported by the Danish government) and we mostly only have to invest our time."
What were your initial expectations when joining MedTech Bridge?
"To be honest, when we joined back then we had so much to learn about the American market and our only expectation was to know much more, which I strongly believe is the case."
What was your overall experience with your trip to Minneapolis?
Again it's a huge privilege to be able to receive this kind of support, and it just ensures that everyone spends their time on highly relevant things. Having Amy planning everything and ensure all meetings we relevant on held in a very professional manner is crucial for the overall success.
How has the trip prepared you for the future?
We will for sure return soon to leverage on the already established contacts and learnings, we don't have a fully fetched plan yet, but we're working in the right the direction.