Denmark and Minnesota, two markets with reputations for building strong healthcare and medical-technology companies, will work together through an initiative called MedTech Bridge.
A delegation of Danish med-tech leaders are in the Twin Cities this week solidifying a partnership between MedTech Bridge and Golden Valley-based Medical Alley Association. The parties signed a formal agreement this week.
Funded by a three-year, $1.3 million grant from the Danish Industry Foundation, MedTech Bridge will guide Danish companies and help them break into the U.S. healthcare and med-tech markets. The initiative will have a permanent space in the Finnesse Partners suite in St. Louis Park, according to the Biz Journal. Finnesse Partners is a recruiter for the med-tech field.
MedTech Bridge won't be Denmark's first foray into Minnesota's med-tech market. At least two Danish healthcare companies, Coloplast A/S and GN ReSound, already have offices in Minnesota.
"I am overwhelmed with the power of the ecosystem here in Minnesota," MedTech Bridge Director Lars Henrik Jensen said in a statement. "The network we can tap into via the Medical Alley Association and all of the local partners is astonishing."
Medical Alley is a nonprofit that supports medical startups and healthcare innovation. The organization's member companies can be found in 672 cities and on every continent except Antarctica. Through the new MedBridge partnership, Denmark will have access to Medical Alley's contacts.
"We look forward to the dual benefits of this partnership between Denmark and Medical Alley and to expanding Medical Alley's reach as the global epicenter of health innovation and care," said Shay Mandle, president and CEO of Medical Alley Association.
The Danish delegation will spend the rest of its week in the Twin Cities visiting Medical Alley companies and creating a plan for MedTech Bridge's first year in operation.
