Medical technology is a growing field. Modern technology has caused a significant upheaval in the realm of medicine. Instead of involving just one company or group, this revolution involves several
In this discussion with Cécile VIENNEY, President and CEO of Hyprevention, other subjects included the technology revolution in health and how Hyprevention is encouraging innovation.
Tell us about Hyprevention.
Hyprevention was founded in France in 2010 to deliver state-of-the-art implantable medical devices for orthopedic surgery that cure bone fragility. Bone reinforcing was initially advocated by orthopedic doctors. As they notice a growing number of elderly people seeking treatment at their hospitals for hip fractures and other osteoporotic fractures as a result of the ageing and expanding population, they think about developing fresh treatments. After examining the market potential and project viability, the surgeons and I created Hyprevention.
What challenges did you first face?
Our first challenge as a fledgling start-up company was to raise more capital than our initial investment in order to pay for the development of our first product all the way until commercialization. As a result, to convince them of the revolutionary nature of our technology, we spoke with business angels all around Europe. Our financial partners are physicians and business owners. They are aware of the challenges faced by business owners and our company in the medical equipment industry. They have been a huge help ever since they joined the founders’ team.
Our products are made in accordance with market and medical standards.
What was the pivotal incident that caused Hyprevention to grow?
We currently have the finest opportunity to grow Hyprevention and our company thanks to the 510(k) approval we received in March 2020.
The launch and even maintenance of cutting-edge products like ours were severely constrained by the new restrictions in the EU after a few years of market research. We therefore concentrated all of our efforts and assets on breaking into the US market and offering premium items.
How have Hyprevention Graphs changed since their inception? Could you give us any data?
Our market is shifting from CE to FDA-510(k) devices, as was previously mentioned.
By using our clinical expertise from the EU, growing our presence in Brazil where we have an ANVISA Licencing, and getting FDA-510(k) approvals, we will seize the potential given by any American market, from the North to the South.
Why has hypnosis been such a long-lasting success?
We receive support from surgeons who are continually looking for innovations that will help their patients clinically as well as from our previous investors. Additionally, we provide solutions that are inexpensive and compliant with the existing reimbursement coding.
Products and Services
Which products and services does Hyprevention prioritise? What distinguishes your services from those provided by rivals?
We are focusing on the US launch of our device, the V-STRUT Vertebral Implant, right now. With a pedicle anchoring, the V-STRUT provides a revolutionary market solution that will significantly improve clinical efficacy for the treatment of vertebral fractures. Additionally, our technology reduces post-operative issues and is incredibly simple to use. The fact that we have a very good margin and a competitive price position, as was already indicated, creates a win-win situation. A victory for patients who will receive the best care possible for their pathology, a win for payers with fair pricing, and a win for Hyprevention with a good profit.
Our second area of focus is our historical Y-STRUT® Hip Implant, which is designed to prevent hip fracture. We have started the US-FDA-510(k) process since we are eager to introduce it to the market.
How did you decide to broaden the scope of your Hyprevention-related products and services?
When creating our products, clinical and market criteria are taken into consideration. Identification of the clinical requirement is aided by reviewing the scientific literature and interacting with surgeons who are expressing the gaps that need to be filled in light of their regular hospital operations. Following that, we make sure there is a sizable population and market to satisfy these wants. We started by developing the Y-STRUT® Hip Implant to avoid hip fracture.
Hip fracture is a major public health issue worldwide due to an ageing and increasing population. Osteoporosis-related hip fractures have a large financial impact on society. We then created the V-STRUT Vertebral Implant to treat vertebral fractures effectively over the long term (avoid refracture), as well as to prevent adjacent fractures at the upper or lower level of the vertebra, as observed with the products currently on the market.
Exist any brand-new products or services on the list? Do you have a story to tell that is exciting?
Our approach is called STRUTPLASTY. A polymer implant and bone cement are also components of it. The mechanical characteristics of the PEEK polymer that we use are comparable to those of sound bone. By fortifying the bone with an anatomical fix, the STRUTPLASTY tries to prevent additional stress. After the Y-STRUT® for the hip and the V-STRUT for the vertebrae, another bone location will benefit from the STRUTPLASTY process.
Leadership
What duties do you consider an entrepreneur to have?
In the case of medical device enterprises like Hyprevention, the patient or the consumer is the entrepreneur’s first responsibility. We provide premium products because there is a real clinical need to help patients. To do this, we need a solid team made up of investors who can see the value in making investments early on, operational staff members who are actively involved in the product’s growth, and a pool of qualified and helpful surgeons who contribute to the product’s development.
The task of the entrepreneur is to identify the right people at every level in order to create the best plan and advance with the finest execution.
Please give us a quick rundown of your work history.
I am. I spent some time working in several industries before joining STRYKER Spine, where I spent 10 years as the global programme manager developing cutting-edge medical technology. After that, I worked for the French start-up VEXIM for two years as its chief operating officer. Recently, VEXIM was purchased by STRYKER Spine for more than $180M. After this life-altering tragedy, I founded Hyprevention ten years ago to increase the fracture prevention market for the hip.
What have been the highlights of your entrepreneurial journey?
Like you stated, it’s a journey. Almost every day is successful. My function and my skills continue to improve over time. That is what I have done most for the Hyprevention organisation that I founded.
