China is one of the largest and fastest growing medical device markets in the world. Given the sheer size of the market, the fragmented nature of distribution, and the cultural differences from one province to the next, it is important to consider a number of implications unique to the China market.
First, do you even meet the requirements to enter the market in China? If you do in fact meet the stipulations, should you even enter? What other steps must be considered? There are a host of questions that need to be answered.
Enter Landon Lack, the President and CEO of China MedConnect. Lack is a veteran of the healthcare, medical device, and high tech industries in the US and China. Lack has had an opportunity to work for both large public companies as well as early stage venture backed companies including: McGaw Inc. (now part of B.Braun), Boston Scientific, Ask Jeeves, SealedMedia (now part of Oracle), and Capitis Healthcare. Landon received his B.S. degree from the United States Military Academy, West Point, New York, and his MBA from the China Europe International Business School (CEIBS). He has lived in Beijing since 2007 with his wife and three daughters.
In this interview, Landon Lack reveals fascinating insights that will help in your medical device decisions regarding the China market.
Here’s What You Will Learn
- Best practices employed by the multi-national corporations (Medtronic, J&J, etc.) that are currently operating in China.
- Critical requirements to enter the market in China.
- Real risks vs perceived risks when considering whether to enter the China market.
- The importance of strategic partnerships with certain distributors in China.
- How to maintain licensing control without completely screwing yourself in years to come.
- What the FCPA (Foreign Corrupt Practices Act) means for your business in China.
- How China’s renewed interest in innovation impacts IP protection.
- And much more!
This Is What You Can Do Next
1) You can listen to the interview with Landon Lack right now:
2) You can also download the mp3 file of the interview by clicking here.
3) Don’t forget – you can listen to this interview and all of the other Medsider interviews via iTunes. And if you get a chance, leave us an honest rating and review on iTunes. It really helps out.
4) Read the following transcripts from my interview with Landon Lack. Also, feel free to download the transcripts by clicking here.
Read the Interview with Landon Lack