Joe Mullings l LSI USA 2025

Another LSI 2025 USA is in the books. It was best one yet.

Scott Pantel and his team have elevated medtech meetings to the highest levels of value, connections, engagement, and education.

The number of unintended collisions that occur at LSI meetings is perhaps the most valuable characteristic of the events.

Business relations and maybe more importantly, friendships are made.

Discussions and observations from the event.

Disruption brings opportunities.

Dynamics in the market continue to create opportunities for the insightful and courageous innovators, entrepreneurs, and investors.

Strategics are getting more conservative and moving the goal post further away year after year, which in turn has emerging techs and startups taking more risk.
What has been changing in the industry over the past few years and what does that mean to innovation?

We can do all of the innovation we want, but if strategics are not aligned to support innovation and exploration in the earlier stages, how does this end up?

The large strategic companies are seeming to pay less for innovation, waiting longer to engage, you see it in acquisitions, corporate venture is more conservative and seem to be coming in at much later rounds, in some cases closer to an acquisition.

The large corporate strategics quarterly reporting and earnings per share are misaligned with mid to long term innovation. Do we need to off-balance sheet in the strategics, so it no longer impacts earnings and the investment thesis changes to accommodate investment in innovation?

You cannot have evolution without extinction. New playbooks are being written and new entities are being created.

What does the landscape need to look like over the next 10 years to ensure technology in the medical device industry continues on this steep innovation curve?

PE, VC, Strategics, Public markets?

If you audit the last 10 years, innovation cost have gone up, but the implants and hardware margins have gone down. The strategics have technologies that have shrinking margins and lackluster internal innovation, as well as coming into innovation way late in the game, how does this end up?

Much thanks to all that make this the premier event in our industry.