Where is the medical device industry headed? At least one expert in the banking field sees a bright future ahead.
Here are five quick trends in the medical device company space from Business Banking Group Vice President and Senior Client Manager for the Midwestern Region at Bank of America Merrill Lynch Michael Mrnak, as reported in a TwinCities.com report:
1. There are a lot of software and technology needs in healthcare.
2. There has been extreme expansion in real estate for specialty healthcare providers, with a special emphasis on orthopedic centers.
3. The ground-up construction "around the metro" will continue next year with healthcare providers outsourcing. This growth is expected to continue for orthopedic centers.
4. Innovation and a lot of research and development will continue for medical device companies, said Mr. Mrnak, despite anxieties about the medical device tax slowing innovation.
5. Mr. Mrnak said his bank is "active in the space and we are happy to assist our clients domestically and internationally."