Uniting Vision and Value: How MedTech is shaping the future

Our expert panel

We were delighted to welcome a panel of industry experts:

• Dr Emer Sherry, Senior Executive, Irish Medtech
• Geraldine McLoughlin, Senior Investment Manager, Western Development Commission
• Dara Meldrum, CSO & Founder, VertiGenius
• Declan Quinn & Kevin Marmion, Co-Founders, Ascentifi
• Paul Mee, Tax Partner, Forvis Mazars, Galway

Key insights from the discussion

1. Ireland’s MedTech industry: A global leader

Dr. Emer Sherry highlighted Ireland’s position as a top 5 global MedTech hub, with €16bn in exports and over 450 companies, including 17 of the top 20 global firms.

• Key drivers include an ageing population, rising illness rates and increased investment in healthcare solutions.
• Ireland’s MedTech startup ecosystem is thriving, supported by innovation, talent and government backing.
• However, Europe’s regulatory landscape (MDR) remains challenging, potentially slowing growth compared to the U.S.

2. What investors look for in MedTech

Declan Quinn (Ascentifi) emphasised that MedTech investment requires a long-term perspective (3-8 years) rather than a short-term exit focus.

• Investors should ask: Is the problem worth solving? Is the market big enough? Does the team have the expertise?
• Accessing experienced networks (e.g., Ascentifi, subject matter experts) is key to overcoming knowledge and resource constraints.

Kevin Marmion (Ascentifi) added that successful MedTech investments hinge on:

• Strong leadership teams with deep industry expertise.
• Clear market opportunities with high acquisition potential.

Rigorous due diligence: Ascentifi assesses 100+ companies but invests in only a select few (six to date).

3. Tax incentives and investment strategy

Paul Mee (Forvis Mazars) outlined the role of tax incentives in MedTech investment:

• Companies seeking funding must present a compelling business plan and educate investors about EIIS tax benefits.
• EIIS is self-certified, with risk levels impacting deductions.
•  While tax incentives shouldn’t drive investment decisions, they serve as an added advantage for investors.

4. Early-stage investment: A game changer

Dara Meldrum (VertiGenius) stressed the importance of early-stage investment in startups, particularly in Scaling-Up (SU) and High-Potential Startups (HPSU).

• Investing early helps mitigate product risk and enhances scalability.

5. Navigating risk in MedTech investment

Geraldine McLoughlin (WDC) acknowledged that MedTech investment is high-risk, but thorough due diligence helps mitigate uncertainty.

• Leveraging expertise from firms like WDC and Ascentifi can guide investors through risk management.
• WDC’s evergreen fund has been successfully operating since 2010, proving that strategic investment can generate strong returns.

Looking ahead: The Future of MedTech in Ireland

Dr. Emer Sherry shared that the Irish Government is committed to developing a national life sciences strategy, ensuring continued investment and growth.

• The future of MedTech lies in data and AI, with a focus on balancing innovation and consumer protection.

Final thoughts

The panel discussion underscored Ireland’s strength as a global MedTech hub and the attractive opportunities for investors willing to take a long-term, strategic approach. With the right combination of innovation, investment, and regulatory support, Ireland is well-positioned to remain at the forefront of MedTech advancements.

Forvis Mazars and Ascentifi are proud to support the MedTech ecosystem, providing the expertise and networks needed to drive success in this dynamic sector.