UK Medtech Rises Up To Meet The Challenges Of Brexit
How the UK medtech industry can forge successful international relationships, increase health-care delivery efficiency and improve patient outcomes following Brexit are the challenges taken up by the Association of British Healthcare Industries in a new report.
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With the clock running down on Brexit, bemused UK medtechs are ready to seize any information that helps them chart a way forward on trading with the EU in the absence of solid directions from the government. Frustrated by the Brexit vacuum, local manufacturers are actively looking to build businesses beyond the EU and focusing on innovation adoption at home, as ABHI policy director Richard Phillips explains.
With Brexit moving ever closer, the UK medtech industry is trying to ensure that local manufacturers have a range of commercial options in overseas markets in the post-EU phase. The ABHI is playing a strong support role in this area, following up its recent international growth plan with a new US innovation hub, designed to offer outward-looking UK medtechs the tools to build positions in the world's largest market.
The smart money had increasingly been on a hung parliament in the UK, with the ruling Conservative party punished for several policy slipups, perceived dithering by Prime Minister Theresa May, and her insistence on a clean and "hard" exit from the European Union that would be led by her alone. She did not need to call the June 8 election, and today, May is ruing the fact that she has lost both the party's absolute majority and her mandate to lead a full-force Brexit.