Page 1 Page 2 Page 3 Page 4 Page 5 Page 6 Page 7 Page 8 Page 9 Page 10 Page 11 Page 12 Page 13 Page 14 Page 15 Page 16 Page 17 Page 18 Page 19 Page 20 Page 21 Page 22 Page 23 Page 24 Page 25 Page 26 Page 27 Page 28 Page 29 Page 30 Page 31 Page 3224 AdvaMed Accel – formerly the Emerging Growth Company Council – was rebranded in 2015 to better reflect its ongoing commitment to accelerating the growth and success of small medical technology companies. Leveraging the resources of the entire Association, Accel is the only organization of its kind focused specifically on the unique needs and challenges of emerging and early growth enterprises – the lifeblood of the medtech industry. Accel provides advocacy for a policy environ- ment more conducive to capital formation and innovation; insight into ever-changing regulatory, reimbursement, compliance and business environments; and opportunity for more member engagement with peers, subject matter experts and policymakers, to help small companies prosper. TAX EXTENDERS LEGISLATION Long-standing AdvaMed advocacy paid off in December when Congress passed – and the president signed – year-end tax extenders legislation with key provisions of particular benefit to small medical technology companies. These provisions includ- ed: a two-year suspension of the innovation-crushing medical device tax; a permanent extension of the R&D tax credit; a permanent small-business expensing limitation and phase-out amount at the $500,000 and $2 million level, respectively; ­ a permanent exclusion of 100 percent of the capital gain on certain small business stock; and extended bonus depreciation. ROUNDTABLES & CONFERENCES AdvaMed Accel convened an industry roundtable in conjunction with the Piper Jaffray Health Care Conference in November to discuss opportunities for reinvigorating the medtech innovation ecosystem for the 21st century. The roundtable – which included small and large companies, investment banks, and venture capital firms – discussed challenges and opportunities related to key issues, including: medtech reimbursement and venture capital funding; educating Congress and policymakers in support of vital policy goals; facilitating partnerships and other business opportunities; and shifting Wall Street’s mindset to ensure greater focus on R&D pipelines. It is anticipated that these topics will be revisited at future roundtables in 2016 and beyond. Meanwhile, AdvaMed’s annual MedTech Conference included expanded programming for small companies, with unmatched opportunities to gain insight and make business connections. The Innovation Showcase featured presentations by 48 emerging growth companies, while the MedTech Innovator finals highlighted four early-stage firms vying for over $300,000 in prizes. PHYSICIAN-OWNED INNOVATORS In 2015, the Association furthered its advocacy efforts with regard to hospital purchasing policies targeting physician-owned distributors (PODs) that also unfairly discriminate against physician-owned medical technology manufacturers. AdvaMed organized meetings with Senate Finance Committee staff to educate them on the issue, provided related resources on the Association’s website, and submitted written testimony for a Finance Committee hearing that included discussion of the importance of differen­ t­ iating between PODs and physician-owned innovators. ACCELERATING SMALL COMPANY GROWTH A C C E L Ross Jaffe, managing director at Versant Ventures (at right), discusses issues surrounding investment in early-stage device firms with Accel Board members in October, including Ken Reali, president and CEO of Clinical Innovations. Tom Ryan, CEO of Thermatome (at left) accepts on behalf of his company the AdvaMed Accel Virginia Shimer Rybski Memorial Award, presented at AdvaMed 2015 by Accel Chairman Nadim Yared, president and CEO of CVRx. The award is presented each year to promising medtech entrepreneurs. A D V A M E D 2 0 1 5 A N N U A L R E P O R T