As we mentioned in our last blog, Acorn exhibited at the BioMed Device Conference in Boston May 3–4 at the Boston Convention Center. With great weather and a packed agenda, the conference was well attended, drawing an estimated 4,000+ attendees.
Acorn’s new booth highlighted some of the medical and laboratory instrument products that we have developed over the years for our clients, along with examples outside of those markets. Some of the more interesting examples were:
Interestingly, several of these projects fit with one of the primary themes of the conference—highlighting technologies and products that can reduce the cost of patient care by providing more patient-directed diagnoses and therapies, along with a shifting focus from treatment to prevention. During the keynote session on Thursday, Frost & Sullivan discussed the current state of the industry along with future trends. Some of the highlights from their talk included:
One example of how these trends are evolving today was a talk by Edward Damiano, CEO of Beta Bionics. Beta Bionics is working on a bionic pancreas for people with Type 1 diabetes (T1D). This device provides autonomous glycemic control, eliminating the need for manual measurement and adjustment of insulin. Studies have shown that the medical costs of T1D far outweigh the costs of Type 2 diabetes, and are estimated at more than $100B annually in the U.S. alone. By far, the highest cost of medical expenditures for T1D is hospital inpatient care (representing 43 percent of the total medical costs). Indirect costs, such as increased absenteeism, reduced productivity, disability, and so on are also significant. In addition, many patients do not treat the disease properly. A bionic pancreas would operate very similarly to a person’s own pancreas, requiring no daily tests or adjustments to insulin pumps, thereby reducing the patient burden. This device could reduce the annual direct and indirect costs for T1D significantly.
Acorn is excited to be part of this revolution in healthcare, and we look forward to working with our clients to make their inventions a manufacturable reality.
Ken Haven has been CEO of Acorn Product Development since the company’s founding in 1993. Ken has more than 25 years of product development experience including technical leadership roles with NeXT Computer, Attain, Inc., and Hewlett-Packard. He holds MS and BS degrees in mechanical engineering from Cornell University.