🏥 France's Medical Business Updates: Key Highlights from the Last Two Weeks 🏥
Revitalizing Biomedical Research 🧬:
The French government has launched a new initiative to strengthen and simplify biomedical research in the country. This plan, announced by the Ministries of Health, Research, and Industry, aims to position France as a global leader in biomedical research and innovation. The initiative includes efforts to attract international talent and increase the efficiency of research processes. This comes amid concerns about a "decline" in France's medical research standing globally
Innovation in Medical Devices 🏥:
- Under the "France 2030" recovery plan, President Emmanuel Macron has allocated €7.5 billion over the next three to five years to boost the medical device sector, with a special focus on MedTech. This includes €400 million dedicated exclusively to MedTech projects such as surgical robots and long-term implantable devices. The plan aims to make France a leader in predictive, preventive, innovative, and personalized medicine
- Several companies have benefited from this focus on innovation. For example, Wandercraft, a company specializing in exoskeletons, raised €40 million in January 2022. Another company, Cairdac, raised €17 million in March 2022 to develop an autonomous sensorless pacemaker(
Foreign Investment in Healthcare 🌍:
France has seen significant foreign investment in its healthcare sector, with 1,607 foreign investment projects in 2021 that created or maintained 45,008 jobs. This includes major investments from companies like Merck, which invested €25 million to create 500 jobs at its vaccine production center in Molsheim, Grand Est. The UK-based company SharpTX also set up operations in France following Brexit, focusing on innovative digital therapies
Industrial Action in the Private Healthcare Sector ⚠️:
In recent weeks, there has been industrial action within the private healthcare sector in France. Unions representing doctors and lab workers called for a two-day strike to protest against working conditions and to demand better pay and resources from the government. This marks the first strike action in the private healthcare sector since 2015, highlighting the ongoing challenges faced by healthcare professionals in France(