The Australian medical technologies sector has a reputation for innovation and quality. The Australian companies in this industry are at the forefront of developing ground-breaking products to improve the health and well-being of global communities. With significant investment in research and development and high-value manufacturing – the industry is situated perfectly to take advantage of Australia’s competitive strengths to export niche products to the global market.
Signostics is a manufacturer of innovative portable medical devices . The South Australian company has worked with research and commercial partners to develop the world’s smallest portable ultrasound system, which is currently exported to a number of overseas markets.
Ultrasound has proven to be an effective diagnostic tool for a variety of medical conditions, enabling clinicians to monitor the body’s blood flow and internal organs. However, using this diagnostics technology at point-of-care
(POC) has traditionally been limited by its lack of portability and complexity. While POC technology has become affordable in some areas, such as blood and urine testing, the need for POC ultrasound diagnostics has not been well met.
Signostics has developed an affordable hand-held ultrasound device, the Signos RT. The device weighs less than
400 grams and can fit in a pocket or worn like a stethoscope, allowing medical practitioners to assess a patient at the POC more efficiently. The Signos RT can be used in several key areas of medical practice including maternity care, emergency care and rural medicine.
POC ultrasound testing allows for convenient, immediate clinical management decisions which can play a vital role in public health. Affordable POC ultrasound testing will enable greater use of this technology, particularly in rural communities with limited access to medical services.
Signostics has highlighted two key factors which have contributed to its success.
Collaborating with local research networks:
Open collaboration is critical to create robust and successful products and is at the heart of Signostics' growth strategy. The company worked with Flinders University, which has an established reputation as a leader in medical research. This collaboration meant the clinical trial of the first generation Signos could be managed through the
University’s Medical Device Partnering Program. This provided the clinical validation required to market the product internationally. Future collaborations include Flinders University NanoConnect and Adelaide University
Institute of Photonics.
Leveraging existing global distribution channels:
The Australian market is often too small to realise economies of scale. Partnering with an international company with complementary products can offer a fast path to market. Signostics entered into an exclusive distribution agreement with Konica Minolta Inc, a large Japanese technology company with capabilities in medical imaging.
The agreement gave Signostics access to Konica’s well-established distribution channels in Japan, USA, China and
India, while Konica was able to incorporate the product in its medical imaging portfolio.
Pictured: The Signos RT portable ultrasound device.
This case study is based on information from Signostics and was developed with the assistance of AusBiotech.
For further information visit www.signosticsmedical.com
.