Strategic Partnerships and Joint Ventures Crucial to Unlock Growth Opportunities Created by Digital Health
Careful selection of partners and flexible deal structures will facilitate faster growth, finds Frost & Sullivan's Transformational Health team
SANTA CLARA, California, Dec. 5, 2016 /PRNewswire/ -- Digital technologies and the massive flows of all forms of data fuelled by the Internet of Things (IoT) are driving vertical integration within healthcare. Boundaries between segments are blurring to expand market reach, drive efficiency, and capture opportunities emerging from technological advances. Digital health solutions promise new models of care delivery, expanded access, improved outcomes and efficiency, and greater value to all stakeholders. However, organizations vary greatly in their capacity to deliver such solutions.
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"The imperative to add new IT capabilities and innovate is driving a wide array of stakeholders to converge and collaborate, creating a heated healthcare deal landscape for traditional mergers and acquisitions, joint ventures, and new types of less-formal partnerships," noted Transformational Health Principal Analyst Nancy Fabozzi. "Flexible deal structures like joint ventures and partnerships, in particular, offer a faster, less-risky path to growth and innovation for healthcare companies."
New Paradigms Driving Digital Health Deals and Partnerships is a new analysis from Frost & Sullivan's Connected Health Growth Partnership Service program. It reviews recent notable joint ventures and partnerships across five healthcare industry segments: payers, providers, pharma/life sciences, medical devices, and ICT vendors, analyzing business and IT challenges and digital health priorities. The insights reveal the importance of convergence in driving digital health markets and the best practices behind winning partnerships.
Click here for complimentary access to more information on this analysis and to register for a Growth Strategy Dialogue, a free interactive briefing with Frost & Sullivan's thought leaders.
Digital health strategic partnerships and joint ventures for 2016 have concentrated on consumer engagement, wellness and analytics. The goal for stakeholders is to foster clinically integrated and decentralized care systems that serve empowered, tech-savvy consumers, who strongly value convenience and personalization.
Large ICT vendors like IBM (Watson Health), Apple, and Google are emerging as major players and partners of choice across market segments. Other dominant companies in digital health include Samsung, Qualcomm Life, UnitedHealth Group, Aetna, Sanofi, Philips, Salesforce, Validic, Medtronic, and Novartis.
"Significantly, many CEOs express a lack of confidence in their ability to successfully execute on the partnership strategy," observed Fabozzi. "Among the potential areas of concern are managing the disruption, designing solutions to cater to cross-care continuum use from hospital to home, and zeroing in on business models that not only scale solutions, but also meet the needs of multiple client groups and global markets."
New Paradigms Driving Digital Health Deals and Partnerships
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Contact:
Mariana Fernandez
Corporate Communications – North America
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