@USOB
Abbott has their "CGM" solution brewing in Europe. I believe you find them more up North, in the Scandinavian countries (Sweden, Denmark, Norway, Finland). Germany/France do not like this disruption in the "force". They have their own medical companies with government support that should be tossed the golden mallet. "Merk, Draeger, Bayer, ect... You may find them there, but perhaps no insurance support. (I may be wrong with the country support... so someone check me on that).
In Europe, they really don't have an FDA per se. You have TUV. The reason to go to Europe with a medical device with TUV approval before FDA is because it is easier with TUV. TUV basically puts all blame on the company which has submitted the device for approval, without actually having to officially document the risk. Abbott does not have FDA approval.
Off note... Abbott's technology is not "continuous". They base their RF data transport on NFC. You need to "hover" your device over it to get a glucose value.
Sorry to get off track. AS has no experience dealing with any top medical device company at all. "Dozens of meetings"... Bishop did most of the talking when AS was CFO.
JV's almost never work in reality... someone will always try to wear the bigger shoe. Trust me... i've worked in a couple (which have wrote off billions in losses). A "collaboration" is more what we are talking about. Echo will still need $$.. but their best efforts would be put into something more meaningful. In a collaborative approach, there is an even exchange of competence.
For example:
If Echo had a 2 year funded track record... they could easily team up with a local company. Cough cough.. Insulet. They are not more than 20 minutes away from the R&D office and only have an insulin pump. If you check out linkedin in Billerica, they have been hiring like crazy. Almost went there myself. Something over there is happening.
Jesus, don't start thinking what I think your thinking. No.. Echo has nothing to do with Insulet. I was just throwing out a suggestion. Medtronic is also in the area.. doesnt mean anything
my .02
-LT
