Here at MBM, we represent a significant number of high-growth tech companies in Scotland, so we know just how important these companies are to the Scottish economy. In fact, the tech sector contributed circa £5bn to the Scottish economy in 2018 and supported over 100,000 jobs according to a report from Skills Development Scotland.

In my last blog (The Wonderful World of Medical Devices – Part I: Definition and Claims), I discussed the various definitions of a medical device and why it is important to clearly define the claims that you want to demonstrate.  In this blog, I will discuss the regulatory environment, the changes that are coming post-Brexit and getting your device to market.

Here at MBM, we’ve been lucky enough to have partnered on the journeys of several medical device companies. According to Crunchbase, there are some 537 Medical Device companies in the UK that have completed a total of 758 fundings rounds, raising over $3.3 billion. But exactly what is considered a medical device?

The last few months have brought great turmoil and uncertainty to business across the United Kingdom. In times where directors are rightly concerned with the future, or even survival, of their company it is understandable that the usual ordinary-course considerations around board decision-making are not are the forefront of the mind. However, now more than ever, directors should be particularly cognisant of the duties of their office, be that to the company, its employees, its shareholders or its creditors.

As we carefully transition from the full lockdown restrictions that we had become accustomed to the next phase (I’ve refrained from referring to a ‘new normal’ for fear of a QI-style klaxon going off), businesses continue to adapt and cope with the disruption caused by the pandemic.