Baxter CEO Almeida on Creating a Bridge Between Invention and Innovation
Wednesday, November 9, 2016
Source: Medical Design & Outsourcing
“The part that separates most companies regarding innovation, those that truly get it, is the bridge between the invention and the innovation,” Baxter chairman & CEO Joe Almeida said last week at the annual Cleveland Clinic Medical Innovation Summit.
The ability to bring innovation or an invention to the world is what distinguishes companies that offer health outcomes. “The ability to create value in healthcare and access is quite significant.”
Take Baxter’s recent focus on end-stage renal disease and the problem of distributing more treatments. Of the 4 million to 9 million people worldwide with this disease, only 2.8 million are treated, partly because many patients are in hard to reach areas of the world, where access to data is limited.
Lack of access inhibited distribution of Baxter’s main end-stage renal product, peritoneal dialysis. So Baxter engineers developed a new product, a hemodialysis therapy called HDx, which can be used instead of its peritoneal dialysis product. HDx functions like an artificial kidney, but is easier to distribute+.