Case Study: Buy or Pass? Licensing a New Technology
The business development team at a medical equipment company was evaluating whether licensing a technology developed by another company would help its market position in a key product category. The technology they were considering licensing enabled continuous monitoring of glucose levels in the blood of intensive care patients and appeared to be an attractive option for integration into one of their hospital equipment products. Prior to moving forward with the licensing negotiations, Maven’s customer needed a better understanding of glucose monitoring practices in the Intensive Care Unit and whether integrating the continuous monitoring technology into their product would be attractive to ICU physicians and nurses.
Clinical Expertise Quantitative Data Qualitative Insights
Maven conducted an Electronic Survey of Intensive Care Unit physicians and nurses to generate insights into how glucose testing is currently conducted in the clinical setting. The Survey generated quantitative data about glucose testing frequency and associated costs, as well as qualitative feedback on the challenges associated with current methods and the potential benefits of automated continuous monitoring. After reviewing the results, the customer decided not to proceed with licensing the new technology.
“The results surprised us… The respondents pointed out issues we hadn’t considered before, and now we are rethinking our strategy in this area.”
– Chief Strategy Officer