New FDA and medical device industry partnership

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In a consolidated effort to help speed-up the medical device review process, improve patient safety and boost investment towards research efforts, several organizations have come together to form a new nonprofit organization.

The Medical Device Innovation Consortium (MDIC), as the group will be known, describes itself as “a public-private partnership (PPP) whose mission is to improve health through the application of shared knowledge in regulatory science.”

Recently, many medical device companies have grown more vocal with their dissatisfaction over the US Food and Drug Administration review process. In some instances, these devices makers have claimed that the nature of the review process forced some companies out of business and caused others to experience “untimely turnover“. One of the MDIC’s primary initiatives will be to actively collaborate with the FDA and others (including academia and patient support groups) in order to help develop new ideas for improving this much debated review process.

The organization’s founding members include a veritable “who’s who” of the medical devices industry. Names include Abiomed, Becton Dickinson, Medtronic and many others.

Does this new organization offer the best hope yet toward improving what many medical device companies consider a broken review system? Share your thoughts on our LinkedIn group discussion page.

To read the full article, please visit Reuters.

For more information about the MDIC, please visit the organization’s official website.

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