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Bringing MedTech innovation to market takes more than breakthrough technology. In this episode of PwC’s Next in Health, Glenn Hunzinger and Brent Hill continue their conversation with Darshana Zaveri, co-founder and managing partner of Catalyst Health Ventures, and Geoff Pardo, general partner at Gilde Healthcare, on the capital, clinical evidence, reimbursement strategies, M&A considerations, product-market fit, and path to scale needed to turn promising MedTech innovation into sustainable growth and patient impact.
Listen in to PwC Next in Health podcast conversations here or follow our series Apple Podcasts, Spotify, YouTube Music, Amazon Music and more.
Prefer to read instead of listen?
We’ve summarized part two of our conversation on the next wave of MedTech innovation in a short Q&A format so you can get the highlights in minutes.
In part one, we explored the technologies reshaping how we diagnose, treat, and care for patients. Now, the conversation turns to what it takes to bring that innovation to market—from funding and clinical evidence to reimbursement, scaling, and building long-term value.
What does it take to fund MedTech innovation today?
Q. Glenn Hunzinger
Early-stage MedTech has always been challenging to fund. What are investors looking for today, and how has the capital environment changed?
A. Darshana Zaveri
It starts with a clear value proposition. Improving outcomes alone is no longer enough. New technologies increasingly need to demonstrate that they can improve outcomes while also reducing costs.
From there, investors need to understand the unmet need, regulatory pathway, reimbursement opportunity, and potential strategic interest. But one of the biggest considerations is whether a company can be funded to a meaningful value inflection point.
Historically, early clinical data, an investigational device exemption approval, or the start of a pivotal trial might have been enough to attract the next round of investors. Today, companies increasingly need a financing strategy that can carry them much closer to regulatory approval. That means entrepreneurs and investors need to think much further ahead about the capital required to reach those milestones.
Why are clinical evidence and reimbursement becoming part of the funding strategy?
Q. Glenn Hunzinger
Part one touched on the growing importance of evidence. How should companies think about clinical, regulatory, and reimbursement strategies as they raise capital?
A. Geoff Pardo
Generating the right data has become increasingly important, particularly because regulatory approval may no longer be the finish line. Companies may also need to demonstrate successful commercialization and adoption, which can require additional studies and additional capital.
That makes capital efficiency especially important. Companies need a strong clinical strategy, a clear understanding of reimbursement, and well-designed trials that generate the evidence they will ultimately need. Having to repeat a trial or significantly change the evidence strategy later can be both costly and time-consuming.
A. Darshana Zaveri
Clinical, regulatory, and reimbursement strategies increasingly need to be considered as one continuum.
Companies can't necessarily wait until after approval to begin thinking about reimbursement evidence. Those requirements need to be incorporated much earlier into development and trial planning.
That can increase the upfront investment required, but it also helps companies build the evidence they need to support regulatory approval, reimbursement, and ultimately adoption.
What is driving activity in the MedTech deals market?
Q. Glenn Hunzinger
As companies navigate those funding challenges, what are you seeing across the broader MedTech deals landscape?
A. Brent Hill
Several dynamics are creating continued activity across the sector.
Large MedTech companies remain focused on category leadership, building deeper positions in attractive markets while divesting assets that are no longer core to their portfolios. That creates a steady supply of viable businesses coming to market.
At the same time, the buyer universe has expanded. Private equity firms have become increasingly comfortable owning MedTech manufacturers, including both corporate carve-outs and platform businesses.
Growth is another important driver. Many large MedTech companies have growth ambitions that exceed the underlying growth of their current markets. M&A gives them an opportunity to reshape their portfolios and increase exposure to higher-growth categories.
Together, portfolio optimization, new buyers, growth expectations, and continued innovation are creating an active environment for MedTech transactions.
How can companies build toward a successful exit?
Q. Glenn Hunzinger
For founders and investors building MedTech companies, how early should they be thinking about the path to an eventual exit?
A. Darshana Zaveri
We think about that path from the beginning.
One question is whether a company will ultimately represent an accretive acquisition for a strategic buyer or something more transformative. If the investment thesis depends primarily on revenue and adoption, the company may need to reach meaningful commercial scale before it becomes attractive to an acquirer.
For more transformative technologies, the milestone may be different. In areas where strategic companies need to continue innovating to remain competitive, strong clinical data or another major development milestone may create an acquisition opportunity earlier.
The challenge is determining what that milestone is and making sure the company has enough capital to reach it. Sometimes that timing changes, so companies and investors need to be prepared to fund further than originally expected.
Why does timing matter as much as the technology?
Q. Glenn Hunzinger
Investors can identify a promising technology, but that doesn't necessarily mean it's the right time to invest. How do you evaluate timing?
A. Geoff Pardo
One of the most important questions we ask is not simply, “Why invest” but “Why invest now?”
A technology may address an important need and still not be positioned to reach the next meaningful inflection point within the appropriate timeframe. That's why we often work backward from the potential outcome.
Who are the likely acquirers? How would the company fit within their portfolios? Will the company need to commercialize independently? Does it have the capital and capabilities to navigate reimbursement and market adoption?
Understanding those questions helps investors determine whether a company is positioned to create meaningful value from the next round of capital.
What should MedTech entrepreneurs prioritize as they scale?
Q. Glenn Hunzinger
For founders trying to build, finance, and ultimately scale their companies, what matters most?
A. Geoff Pardo
Alignment is critical. Founders, boards, and investors need to remain aligned on the company's strategy, financing, and long-term objectives. Complex financing structures or very different expectations among investors can create challenges as the company grows.
Capital discipline is equally important. Companies that get too far ahead of themselves in spending can make future financing or an acquisition more difficult.
And ultimately, the team matters enormously. Investors aren't evaluating only the CEO. They're also evaluating whether that leader can attract and build a team of people who are equally strong—or stronger—in the areas where the company needs expertise.
Building the right team, maintaining investor alignment, and remaining disciplined about capital can be just as important as the technology itself.
Why is product-market fit so important in MedTech?
Q. Glenn Hunzinger
Even strong technologies don't always succeed. What are some of the lessons you've learned from companies that haven't developed as expected?
A. Darshana Zaveri
Product-market fit is one of the recurring themes.
Sometimes the challenge is understanding who the true end user is—whether that's the patient, clinician, or payer. In other cases, the product may simply be too complicated for its intended application.
The market can also change during a lengthy development process. Some companies are able to pivot and adapt, while others may have built a technology around a delivery model or market need that has changed by the time the product is ready.
For early-stage companies especially, staying close to the market and understanding how customer needs are evolving is critical. A strong technology still has to solve the right problem, for the right user, in a way the market is prepared to adopt.
What are investors most excited about over the next several years?
Q. Glenn Hunzinger
As we look ahead three to five years and beyond, where do you see the greatest potential for MedTech to improve patient care?
A. Geoff Pardo
There are exciting technologies emerging across nearly every specialty, including cardiovascular care, women's health, ophthalmology, and heart failure.
Longer term, neurodegenerative disease is an area where the need is particularly significant. Conditions such as Alzheimer's, Parkinson's, and other forms of dementia create enormous challenges for patients, families, and the healthcare system. New technologies and treatments that can improve care in these areas could have a tremendous impact.
A. Darshana Zaveri
I'm particularly excited about the broader shift toward completely non-invasive care—wearables and other technologies that can accomplish what previously required surgery or a procedure in the cath lab.
Another important trend is the move toward technologies that leave no permanent device behind, as well as devices that can address conditions traditionally treated with pharmaceuticals.
Together, these trends point toward a future where MedTech can become less invasive, more adaptable, and capable of addressing a broader range of conditions.
What will it take to turn MedTech innovation into meaningful impact?
A. Glenn Hunzinger
There is no shortage of innovation happening across MedTech, and there is tremendous potential for new technologies to change how we diagnose, treat, and care for patients.
But innovation is only one part of the equation. Bringing those technologies to market requires the right clinical and commercial strategy, access to capital, and a clear path to scale.
It also requires collaboration across the ecosystem—from founders and investors to strategic companies and other stakeholders. Bringing those pieces together will be essential to turning promising technologies into solutions that can ultimately improve patient outcomes.
Episode transcript
Find episode transcript below.
00:00:04:01 Welcome back to PwC’s Next in Health. I'm Glenn Hunzinger, PwC’s US Health Industries leader. This is part two of my conversation with Darshana Zaveri, Geoff Pardo and my colleague Brent Hill. If you missed part one, I encourage you to go back and listen to it as we explore the next wave of medtech innovation. And that technology is reshaping how we diagnose, treat and care for patients.
00:00:26:05 In part two, we'll turn to the capital side of the equation. From funding innovation and generating the right clinical evidence to navigating reimbursement, scaling successfully and building value in medtech today. So let's jump back into the conversation with Darshana, Geoff and Brent. And maybe as we think about pivoting the conversation towards that funding, what it takes to actually in today's market win.
00:00:50:16 How do you scale? Maybe let's go a little bit into where that capital cycle is. And as you think about investing today, what are some of those opportunities and challenges you see, particularly when you think about clinical evidence reimbursement, that commercial readiness, how do you guys think about that in your investment cycle? So maybe Darshana, I'll start with you and then, let's get that conversation going.
DARSHANA ZAVERI:
00:01:13:24 I think that it's always been hard to raise money for early-stage medtech. And despite the data of how much was raised this year or last year, I think overall it is still hard. And as one of the very few early-stage investors out there, I can tell you it is hard because we see so many deals and so many good deals and there's only so many we can do.
00:01:35:00 But I think from the perspective of what we are looking for, making sure that there is an absolutely clear-cut value proposition for the actual end user is so important. And I think we live in a world where it is not enough to just improve outcomes. You have to improve outcomes, and you have to reduce cost. I think that they do have to go hand in hand.
00:02:00:09 So I think that's where everything starts. What's the unmet need? How big is it and does anyone care? I think there are a lot of elements around that which go into sort of everyone's diligence. Is there a strategic acquirer, what's the regulatory path? Is there a way to get paid? There's all of those elements that I think we all know around the table,
00:02:20:20 but I will mention one specific one that I think for us is really important, which is can we on our dollar fund the company to a really meaningful value inflection point? And that is really what we spend all of our time thinking about these days. Once we get to the point where we say, okay, we want to do this deal, what are the gating items?
00:02:44:04 And that's a big gating item. And I'd love to hear Geoff’s perspective on this, but it used to be that early clinical data was enough to get the next round, or getting an IDE approval to start a pivotal trial was enough, or it was doing the first few patients and getting that pivotal trial going was enough.
00:03:01:06 And I think now what we're seeing is you really need to have a view into funding the company all the way to approval to get a really good next financing done on good terms. Right. So that's the biggest challenge that we face as early investors is can we do this? Do we have a syndicate around the table that can carry the company to approval or pretty close to it?
00:03:27:30 And so yeah, I think that's what entrepreneurs need to be thinking about as well. It's just no longer enough to fund to what used to be a point at which new investors could be attracted.
GLENN HUNZINGER:
00:03:39:03 Yeah. If you build it, they will come. Yeah. I think that longterm plan and vision is super important. Geoff, how would you sort of add to that?
GEOFF PARDO:
00:03:46:21 I totally agree. I mean, it's kind of interesting if I reflect on when I entered the business in 2001, who was investing back then and what people were investing in. There was a lot of early-stage device investing in that period, sort of 2001 to 2008. And interestingly, there's been almost a complete change over investment funds till today.
00:04:09:15 Very few of the funds that were active back then are active today. And so I think what we've seen as part of that changeover is a lot fewer funds as Darshana referenced doing their early-stage investing that's created a real funding gap. I think you've seen more and more funds move to later-stage investing has gotten more competitive.
00:04:29:13 And the good news is that I think if you hit some of the inflection points, that Darshana mentioned, I think there is a chance to raise a really nice round in an up round. But getting to that point and getting the amount of capital that you need to generate the sort of data that Darshana was referencing is one of the core challenges that I think companies face.
00:04:49:12 Firms like Darshana’s have helped fill the gap. I think we've seen some of the strategics go in pretty early as well to fill that gap. We were looking at companies that often are backed by friends and family and angels that have managed to carry that early load, but it is a critical issue, complicated by the fact that it's not enough to just get to a regulatory approval anymore.
00:05:11:16 I think, as we've alluded to earlier, you often have to get to a point where you're successfully selling the product, which could entail more studies. So not to be too daunting here because there are companies that are obviously doing it and doing it successfully. But I would say that that premium on data doing it in is capital efficient are ways you can because the denominator still matters in our business.
00:05:35:17 I think the companies that really get out over their skis, in terms of how much capital they're spending can set themselves up for very difficult financing rounds going forward. So I think doing that early work and early clinical trial work in a capital efficient manner as possible, which is challenging in and of itself. But companies can do it.
00:05:56:09 I think those are some of the keys, but it all starts with really a good strategy on your clinical trials, on incorporating reimbursement early on, having a good eye towards that and running good, clean trials and not having to redo that eventually because it's hard enough to do one trial. So…
DARSHANA ZAVERI:
00:06:15:12 Yeah, and with the emergence of some of the newer payment programs that CMS is bringing forward, I think a lot of entrepreneurs are now learning that they have to think about the clinical, regulatory and reimbursement as sort of one continuum that you need to plan for at inception. You can't just wait for post approval to design reimbursement studies.
00:06:38:06 No, you have to do it all upfront and at once. That makes it even more pricey to do the work, but that's pretty much what's required these days. Well, the only one other thing I'll add to that is there are areas where we can do trials in a more capital-efficient way. Unfortunately, structural heart and pure cardiac trials are so expensive that they sort of put this Paul across medtech.
00:07:03:16 And the general thesis is, oh, you need 100 or 200 million to do a trial, which is not true in a bunch of other indications that we could be investing in that are also very big unmet needs that are also breakthrough technologies, that are also potential M&A targets and attractive acquisition targets. So I think we just have to sort of shift our focus from just cardiology to these other indications as well.
GLENN HUNZINGER:
00:07:32:07 Yeah, I think that's an interesting perspective. And you're right. How do you continue to be entrepreneurial given that it’s not just unlimited capital out there and funding? And maybe as we think about this, maybe we just pivot a little bit and think a little bit about the deals market here instead. So what that looks like and what we're seeing, particularly when we think across all the different stage of investments from venture to private equity and otherwise.
00:07:54:24 And so then Brent, maybe we start with you. And what are you seeing, how are you feeling that market right there? You talked a little bit about the buoyancy and excitement in the space but maybe let's double click a little bit.
BRENT HILL:
00:08:04:00 I think there are quite a few dynamics that we're monitoring, and it's all pointing toward a lot more activity or heightened activity is going to continue. We look at it across a few ways. One, large medtechs are still bought into this strategy of category leadership. This isn’t a novel idea at this point, but many of them are picking a few attractive markets that they're really going to build franchises within. And while doing that, they're going to begin to shed the assets that are not core to their portfolio.
00:08:35:20 So you've got this constant supply that's continuing to hit the market of perfectly good assets that are just coming out of corporate portfolios. Another dynamic you also have more credible buyers in this space than what we used to see. Private equity has become much more comfortable. Owning medtech OEMs nowadays versus just service companies and whether that's corporate carve outs or platforms, you're seeing it.
00:09:02:07 And then finally, you have this, public market valuations are weighing down on the sector a little bit right now. And it's making things be at a price, which is much more affordable for folks to do something with currently. And so a lot of good activities happening there. Besides just that, the other piece is growth. Most or several of the large medtech companies in our industry, they have growth aspirations that are above their weighted average market and growth rates today.
00:09:32:07 And so there are really only two ways for them to solve that equation. Either they're going to believe they continue to take share every year and outperform their market, or they're going to change their portfolio exposure so that they have higher concentration and higher growth markets. The latter part of that, the cleanest way to do it is through M&A.
00:09:54:04 And when we look at trial starts are all up in the last 12 months. The interventional categories, as we see it in the data, it just creates this interesting cycle that's, strategics need growth. Portfolio optimization is happening. Assets are for sale. New buyers are here to buy them. Innovations creating a new list of things to go by. It just creates this nice market that we see continuing to persist for some time.
GLENN HUNZINGER:
00:10:20:50 Yeah that's good. Certainly provide some tailwinds. And you're right. Even the larger companies, everybody needs growth. The growth agenda is so critical right now in medtech. And I think everybody is focused on how they can grow. Particularly, when you look at the overall medtech market, creating 30% under the overall market and growth being a number one factor there.
00:10:42:21 Darshana and Geoff, if you think about your investment and the exits to that, you maybe just give a little color for investors and entrepreneurs, sort of building businesses. How do you build that bridge to have that sort of efficient exit?
DARSHANA ZAVERI:
00:10:55:08 Yeah, I think for us, we sort of look at when we make a new investment, we look at whether this is going to be sort of an equative buy for a strategic or is it going to be fundamentally transformative. Right. We touched on this before, and depending on one, whether it's simply going to be a revenue story for a strategic, we know we need to capitalize the company to get to that point, a substantial 25 to 50 million in revenue to show that the adoption is there.
00:11:24:13 And so, we want to make sure that we understand that journey and are able to finance it. If it is a set of a transformative-type investment where we know, for example, strategics, particularly in structural heart or cardiology, need to keep pace with their peers. And so we know that there are certain areas that are going to be fundamentally interesting to them, and they're going to keep looking for the next thing.
00:11:51:03 And in those areas we try to predict what is that milestone at which a company becomes an attractive acquisition target? And then, can we fund to that milestone. Right. The hard part. And Brent, I love your optimism about deals and sort of your prediction of the idea that.
GLENN HUNZINGER:
00:12:09:01 He's always optimistic. He's always optimistic.
BRENT HILL:
00:12:10:09 I might be biased because my job is tied to it. But…
DARSHANA ZAVERI:
00:12:15:18 I do think that sometimes we get it right. Sometimes we get it wrong. There are companies that we thought would get acquired during a trial with significant clinical data, and then they didn't. And then we had to fund them to approval or to the next milestone. So I think it's really for us, it's like making sure we understand that journey and the milestone at which these companies become an attractive target.
00:12:40:10 Generally speaking, we like to fund clinical data generation rather than revenue. That's just what we know better. And so those are the types of companies that we get to invest in.
GLENN HUNZINGER:
00:12:52:15 Yeah. Thank you for that. I mean, it's clear everybody plays a role in the financing playbook. And everybody has to invest in where they're most knowledgeable and where they had the most value. And maybe, Geoff, as we look to sort of bring this home a little bit — founders are always thinking about building, scaling everything else, exiting. What do you say to them?
00:13:11:22 What advice do you give them? And for listeners here, maybe share some of that perspective?
GEOFF PARDO:
00:13:16:22 Yeah, I’d be happy to maybe just to weigh in a little bit on that last conversation, because I think it's really important. I think we very rarely get the question wrong on why invest or are we investing in something that's worthwhile? I think we're pretty good at selecting technologies. We get it wrong occasionally and whether the timing is right for our investment.
00:13:37:20 So I really challenge the folks within our firm when we're looking at something is why invest now? That's a really important question to be able to answer. And it gets to what Darshana was talking about in terms of their positioning to hit a really important inflection point. In our case, we're hoping to invest in around that ultimately leads to an exit.
00:13:58:01 And we spend a lot of time working backwards with any investment. And when I say that, I mean who are the likely acquirers? How does this fit into their portfolio? Is this a company that's going to need to take it into the market and commercialize it and deal with reimbursement? And that's okay if it is, but are they well set up and well capitalized to do it?
00:14:17:11 So I think from an investor perspective, this do we invest now is really a critical question to focus on and all the things that go with it. As far as advice to entrepreneurs, there's so much to say on this question. I think that alignment with your board and with your investors is really a critical point to try and maintain.
00:14:40:07 I think where we can see problems develop is when crazy structures start entering the cap table. There are wildly different prices that have been paid, and you start to see real misalignment amongst your board and your investor group. So I think trying to maintain that cohesion with your investors is really important. Not getting too far ahead of yourself in the capital spend is really important.
00:15:04:04 It gets back to some of what we've been talking about in terms of efficiency to an exit. But I think where we've made mistakes at times is our companies got way too capital intensive, spent way too much money on different things and that really changed their ability to get finance or acquired at a reasonable value. So I think really maintaining that discipline on cash.
00:15:26:10 Darshana said it early on about the teams and the importance of the teams, and this is a little bit like it seems obvious, right? But it is one of the hardest things that we do is assess teams appropriately. And it's not only the CEO in terms of whether it's a good CEO or not, but the ability of that CEO to hire effectively around him or her.
00:15:48:03 I think it's one of the most important things. So I would say that when we're looking at investment, we're really assessing that person's ability to bring on people that are as good or better than that person. And I would say that's a key thing for entrepreneurs to consider is when you're pitching a deal,
00:16:04:09 it shouldn't just be all about you, the entrepreneur, it should be about the team and give the investors that sense of who is around him or her, because it's really going to be the make or break of that company.
GLENN HUNZINGER:
00:16:16:18 You guys have done an incredible job. Your brand, as far as just communication with your CEOs and your companies and having that collaborative approach, maybe Darshana, anything you would add to that?
DARSHANA ZAVERI:
00:16:27:21 Yeah. We were actually just doing an analysis in-house in terms of our failures. And what did we get wrong and what did the entrepreneurs get wrong. And the theme that kept coming up, and I'll use it in a very generic term, but it was product-market fit and it sounds simple, but at times it was that we didn't understand who the market was, meaning who the end user was going to be.
00:16:52:20 Was it the patient? Was it the clinician? Was it the pair? So, at times that was the issue. At times, the product was just too complicated for the intended application and the market just wouldn't accept it. At times it was that the market changed through the development process, and that was one that kept coming up a couple of times, where some of our companies were able to pivot and adapt to new market conditions, and some were simply not because their whole technology was geared towards being delivered in a particular way.
00:17:27:07 And when the market changes on you, or if you take too long to develop the product, then you may just not be relevant anymore. And so I think those are the things that we learned. And because we are early-stage investors, we kind of see some of those early product-market fit failures. So it's just something that entrepreneurs have to be super focused on.
GLENN HUNZINGER:
00:17:48:06 Yeah, it’s certainly not easy to invest into an environment that's constantly changing and having that lens of where it is going to go in those permutations, super hard. So I appreciate some of those challenges you guys are dealing with. So folks, great dialog, conversation. I think you shared some really good insight and perspective. And it gives the whole spectrum across medtech and everybody investing something to think about here.
00:18:12:20 And as we wrap up, it's always great to ask the question, what are you most excited about in the next 3 to 5 years? So Geoff, we'll start with you and then Darshana, get your view and Brent’s and we'll bring us to a close.
GEOFF PARDO:
00:18:24:07 Yeah. For me, I mean, I'm excited about all the impact that our companies can make. And they cut across almost every specialty. So we're going to see incredible technologies brought to market in the next 3 to 5 years, whether it's atrial shunts or different procedures for treating different women's health disorders. Pelvic pain is one we’re involved in. I think that can be quite interesting.
00:18:48:05 I think the company I mentioned, treating glaucoma and cataracts is going to be really interesting. We have a company in congestive heart failure that is implantable monitoring technology for CHF. So all those things are within our portfolio. I think the thing that is external to our portfolio is something I mentioned at the top, which is things in the neurodegenerative space are going to be so important because we really see so many of the elderly suffering from these things, and it is a horrible way to end your life.
00:19:19:20 When you think about dementia and Alzheimer's and Parkinson's and all the different things that are creating a ton of problems for our elderly population. Ton of cost is borne in the system, and it's just an area that needs tremendous improvement as we think about treatment. So, I am hopeful that we'll see more and more coming down the pike in that area.
00:19:42:06 I think we're probably a little bit longer off than 3 to 5 years, but to me, over the next decade or two decades, that is going to be a real fruitful area.
DARSHANA ZAVERI:
00:19:51:05 For me, I'm just going to sort of recap what we've been talking about because from a pure technology standpoint, I'm excited about where the space goes, right thematically. Again, going to completely non-invasive, right? I just love that idea of variables or non-invasive devices doing what we used to do surgically or in a Cath lab. So that's sort of one theme, this other theme of no device left behind.
00:20:17:07 I'm seeing so many devices in that space, and the atrial shunts is the one that you mentioned, Geoff. But there are others where you kind of go in, maybe you ablate the tissue and you treat the cardiomyopathy. And I think that is another sort of exciting broader trend. And then taking share from the drug market really excites me.
00:20:37:05 I saw the other day a mechanical GLP-1. I thought it was so cool. And so we have in our portfolio mechanical anti-angiogenesis does the same thing as an anti-angiogenesis drug, or the pain device that actually looks and feels like a drug, but actually treats pain and is has a very, very good safety profile. So I think those are thematically the areas that I am most excited about, and all of the technologies that are going to drive and enable them in the future.
GLENN HUNZINGER:
00:21:05:21 Darshana, Geoff, Brent, thank you so much for these great perspectives. I think you've given everybody a lot to think about, and I think a clear path on the challenges we have, but more importantly, the exciting opportunities across the spectrum of medtech and innovation across all aspects. I think the one thing that comes from this conversation is that there's no shortage of innovation happening across medtech.
00:21:29:06 There is tremendous opportunity and real potential for these technologies to change how we diagnose, treat and care for patients. But as we've talked about today, innovation is only one part of the equation. Bringing that innovation to market requires the right clinical and commercial strategy, access to capital, and obviously a clear path to scale so that our patients can get the best outcomes they need.
00:21:51:18 Ultimately, as we've spoken about in the past, collaboration across the ecosystem is super important, from founders to investors across the spectrum to make sure that at the end of the day, the patients have the ultimate outcome that we need here. Darshana, Geoff, Brent, thanks so much for being here and sharing your perspectives and thank you for tuning in to PwC’s Next in Health.
00:22:13:00 For more on these topics and other insights across health industries, please subscribe to our podcast at pwc.com/U.S./Next in Health podcast. Until next time I'm Glenn Hunzinger and this has been Next in Health
FEMALE VOICEOVER:
00:22:35:05 This podcast is brought to you by PwC. All rights reserved. PwC refers to the US member firm or one of its subsidiaries or affiliates and may sometimes refer to the network. Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details. This podcast is for general information purposes only and should not be used as a substitute for consultation with professional advisors.
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