Julio Martinez-Clark, CEO and Co-Founder of bioaccess speaks with Jason A. Duprat, Entrepreneur, Healthcare Practitioner and Host of the Healthcare Entrepreneur Academy Podcast. In this episode, they talk about how Julio found an opportunity for medical device companies to conduct clinical trials and sell their products in Latin America. Julio discusses how to become an educational source for clients and how to start the process of conducting a healthcare-related business in another country.
Episode Highlights:
- What is Julio's background and what prompted him to become an entrepreneur?
- What types of medical devices have they conducted clinical trials for in Colombia? What does the trial process look like?
- What is GCP certification?
- What are some of the benefits of doing a clinical trial in Colombia vs. in the US?
- How does the time required to get these trials approved and completed in Colombia compare to the same process in the US?
- How does a study that gets completed in Colombia translate back to possibly using your device in the US?
- At what stage in this process does a company typically approach Julio? Do they already have a device that's ready to be used or are they working with prototypes?
- What does Julio know now that he wishes he had known when he was starting this company?
- What advice does he have for somebody looking to start a business in a similar arena?
- When it comes to doing business in Latin America, do you have to establish legal entities? How do you start the process of doing business in a different country?
- When it comes to cultural differences, how would a US company bridge that gap and should they hire a native consultant?
- What words of wisdom does Julio have for anybody launching a medical device idea in a different country? Is there a resource he recommends?
3 Key Points:
- The hubs of medical innovation in the US struggle to find cost-effective, ethical and quality overseas sites and investigators to lead clinical trials.
- Establish your authority by creating content, especially when you see that no one else is providing information your clients would benefit from.
- When taking your business to another country, find a local partner who can guide you in the process.
Tweetable Quotes:
- “If you're confident your solution to a specific problem is the right solution, keep persisting.” – Julio Martinez-Clark
- “There's a vast sea of opportunities to sell devices and to provide solutions because patients need these innovative technologies that usually do not reach Latin America.” – Julio Martinez-Clark
Resources Mentioned:
#HealthcareEntrepreneurAcademy #HealthcareBoss #healthcare #entrepreneur #entrepreneurship #medicaldevices #medicalinnovation #clinicaltrials #latinamerica