Rationale

AdMeTech Supports Important Innovations in Medical Instrumentation

PROBLEM: Lack of support for new, innovative medical technologies.
In the current cost-sensitive health care environment, many promising innovative technologies do not find support from traditional sources of funding, such as clinical facilities, industry, and government:

• Academic and private clinical institutions, dominated by the need to contain costs, have been drastically reducing funding for development, testing, and acquisition of new technologies.
• Many companies in the health care industry, affected by lower sales, have been reducing expenditures for research and development.
• Medical equipment manufacturers and venture capitalists, which must be mindful of responsibilities to investors, primarily support proprietary technological innovations that may generate only substantial and short-term profits. Thus, because of the long-term development time and the inherent market, reimbursement, and regulatory risks, corporations are reluctant to invest in early stages of technologic innovations, even those with a promising potential to improve health care.
• Federal and state government agencies, although excellent in funding basic and applied research, have been traditionally risk averse, notoriously slow in issuing funding, and extremely reluctant to support significant innovations in health care technologies and their transfer to clinical use.

SOLUTION: AdMeTech Foundation

• To provide and facilitate the timely funding of innovative technologic solutions to critical health care problems, AdMeTech enlists the cooperation and support of government agencies, academic institutions, commercial enterprises, third-party payers, private investors, and philanthropic organizations.
• AdMeTech’s partnerships bridge the currently existing gaps between exploratory research, development of prototype equipment, clinical validation, and large-scale implementation.
• AdMeTech cooperates with the National Institutes of Health (NIH) and other government agencies and complements their research efforts. AdMeTech supports early stages of proof-of-concept, translational research, instrumentation development, and testing, so that NIH and other government entities can conduct large-scale, long-term basic and clinical research programs.

INTERNATIONAL SCOPE
AdMeTech is based in the United States but supports, solely on the basis of merit and regardless of country of origin, the most promising concepts and innovations.