The Singapore Medtech Consortium (SMC) has signed an MOU on 22 May 2019 with the German Medtech cluster “Medical Valley”, on the occasion of the first edition of the MedtecLive exhibition in Nuremberg (Germany), with the aim to establish a solid business bridge between Singapore and Germany in the field of healthcare.
Medical Valley is the largest medical technology and medical service cluster in Europe. It is one of the top 15 national cluster platforms selected and approved by the German Federal Ministry of Education and Research (BMBF) and is also the only cluster in the field of medical technology in Germany.
Leveraging on Singapore’s vibrant Medtech ecosystem and world-class connectivity, the SMC is committed to supporting Medical Valley and its companies on their expansion plans into the rapidly growing Asia Medtech market, through areas such as market access and distribution into Asia, regulatory requirements, investments and high quality design, prototyping and manufacturing.
The partnership was facilitated by Enterprise Singapore, who saw complementarities between SMC and Medical Valley, and brought them together. This is a mutual collaboration that will contribute not only to SMC’s business growth; it will also enable Medical Valley’s Medtech innovations to be exported into the region, meeting the rising healthcare needs of the growing population.