New Barrier For UK’s Brexit Plans; Industry Looks For Potential Opportunities
The UK Parliament may get to vote on the terms of the country’s departure from the EU if an important legal decision handed down Nov. 3 is upheld. Industry is looking at potential opportunities from Brexit as the next round of talks with the government nears.
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The uncertainty over the UK position in Europe, on top of the questions surrounding many aspects of the implementation of the EU’s forthcoming medtech regulations, is making any efforts at planning difficult for many in the medtech sector. But indications are that the UK will be on board the EU medtech ship a while longer.
The UK medtech industry is in a state of flux given the known unknowns of Brexit, perennial health-care funding pressures that will only exacerbate, and a menu of cost-saving initiatives that require medtech companies to adjust how they work with the National Health Service. Improving NHS and its role as a boon to smaller UK medtech companies is an important priority of industry.
A national federation of medtech associations is being proposed by parts of the UK industry, which often feels muscled out of the debate by pharma for big issues like handling the country's exit from the EU. The argument is that a less fragmented sector voice would have more influence on government decisions.