Organizational culture is critical for successful innovative growth and the acquisition of new and adjacent technologies. Medtech companies with robust innovation cultures generate even more value by embracing the latest technologies, such as generative AI.
When medtech companies cultivate a strong M&A capability, they can also become growers of innovation growers through dealmaking throughout the M&A team (R&D, marketing, finance, operations).
In an article by McKinsey,¹ growth innovators in the digital space complete three times more digital M&A deals as compared to peers. This demonstrates a commitment to acquiring promising technical competencies and IP and a willingness to explore those technologies to stay in advance of the competition.
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Footnotes
Innovative growers: A view from the top, McKinsey Quarterly (November 1, 2023)