PROVIDENCE, R.I.--(BUSINESS WIRE)--XIMEDICA, a leading full service medical technologies development firm, today announced its strategic partnership with Cambridge MedSpace. Located in the heart of Cambridge, the concept for MedSpace is the brainchild of MIT researcher Nevan Hanumara who recognized that, while the Boston-Cambridge area is a hub for innovation, there was an opportunity for an incubator space and community focused specifically on empowering healthcare technology innovators and Ximedica and Cambridge MedSpace, together, are dedicated to filling this need.
Says Hanumara, “We know that healthcare technologies face unique challenges; particularly the standards of the FDA, alongside the usual business and technology hurdles, which puts a burden on timelines and funding. With Ximedica as our lead partner, our idea is to create a highly focused environment, with specialized resources and expertise, to enable technology validation, de-risking and acceleration.”
Ximedica will provide personalized guidance leveraging its 30 years of experience designing and developing for medical, deep tribal knowledge of the industry along with a “curriculum” comprised of workshops and toolkits which we have been running as Xilab for 3 years now.
“In short the goal here is to germinate human-centered solutions that create impact,” says Aidan Petrie, Ximedica’s Chief Innovation Officer, “and success is helping healthcare visionaries understand the evolving use scenarios and environments and bring innovation to the market that they serve.”
Randy Barko, CEO of Ximedica adds “Cambridge is the east coast hotbed of healthcare innovation, with startups and fortune 500 companies vying for access to new markets, technologies and opportunities. Ximedica is already working with the region’s major hospital groups, universities and the funding community to help bring technologies to market. When Nevan approached us about partnering on MedSpace it was clear to me that we were a perfect fit. MedSpace brings together all of the necessary assets to concept, design, develop and launch healthcare solutions. We expect to develop similar partnerships in Minneapolis and on the West coast.”
Ximedica is a full-service ISO 13485-certified and FDA-registered product development firm. For 30 years Ximedica has provided a unique growth platform enabling organizations to successfully deploy medical technology products into the market. Its headquarters are in Providence with offices in Hong Kong, Minneapolis, San Francisco and Los Gatos. In November of 2014, SV Life Sciences, a Boston-based private equity firm, acquired a majority stake in Ximedica, enabling the company to execute its growth strategy. www.ximedica.com
About Cambridge MedSpace
Cambridge MedSpace is a dynamic ecosystem of healthcare technology visionaries that enables the advancement of human-centered healthcare solutions. Located in the middle of Cambridge, Massachusetts we provide office and meeting space, a workshop with benches and an events area. We draw upon a network of technical, clinical, academic, prototyping, business and regulatory experts to provide community members with the support needed for technology validation, de-risking and acceleration.