MedTech-hero-1.2

Board of Directors, BoD, C-level in MedTech

Summary

The medical technology sector is one of the most innovative and diverse industries worldwide. Together with the life sciences and healthcare sectors, it drives progress and makes a significant contribution to the health of society. Research, technology, production, and patient care are intertwined in a strictly regulated environment – with the aim of making modern medical technology available to as many people as possible.

 

The industry is characterised by dynamic growth, demanding regulatory requirements, and the use of state-of-the-art technologies – from AI-supported diagnostics to robot-assisted surgery. All medical technology solutions have one thing in common: they save lives and improve the quality of life for people with a wide variety of diseases. These range from everyday products such as plasters, syringes, and gloves to aids such as wheelchairs and hearing aids to complex devices such as body scanners, heart valves, pacemakers, and artificial joints.

 

Start-ups and scale-ups face a particular challenge

At Wirz & Partners, we know from entrepreneurial experience how important the numerous medtech and biotech start-ups and scale-ups are for the innovative strength of the industry. Filling management positions is particularly challenging in these young, dynamic companies due to the constantly changing conditions. The search for the right personalities is even more complex. It is not enough to rely solely on well-known names. What is crucial is access to the entire active talent pool and a deep understanding of the specific challenges and opportunities facing these companies.

The regulatory requirements in this industry are high. Companies must comply with standards such as MDR, FDA, and ISO. This requires clear processes, effective compliance management, and the ability to adapt to new standards and conditions continuously.

Key tasks for management and the board:

1. Regulatory complexity

Regulatory complexity is a challenge for all executives on the board. As the saying goes, ignorance is no defence. Every board member should be aware of the personal liability that comes with not mastering one or more safety requirements. Companies must develop robust compliance management and governance strategies and monitor them closely.

  • Medical devices must meet strict safety and quality requirements. They must be proven to be safe and effective. This requires extensive product documentation, risk assessments and clinical data throughout the entire product life cycle.
  • In addition, there are already further requirements and specifications in the supply chains – and product liability guidelines, as well as the PFAS ban and AI-specific regulations. This does not make it any easier to ensure a secure supply.
  • Comprehensive knowledge of the various regulations and laws is necessary, such as the EU Medical Device Regulation (MDR) or the In Vitro Diagnostic Regulation (IVDR). These regulations and laws are tightened by the FDA, which is based in the USA. These systems are risk-based, but differ in the qualification of processes and classification rules.

2. Digitalisation & AI

The challenges of digitalisation and AI in the medtech industry lie in the combination of very high investment requirements, regulatory pressure, cultural change and technological complexity. These transformation projects are not just technical projects, but always affect the entire company.

  • Artificial intelligence (AI) and big data are revolutionising diagnostics and therapy. AI thrives on data from practice. This data is often fragmented, non-standardised and sensitive. Scientific evidence to substantiate the data is still lacking in many areas.
  • AI is increasingly being used in product development, but requires investment in data infrastructure and clear strategies for its use.
  • The introduction of eHealth platforms, AI diagnostics, and automated processes is a key driver.
  • Digitalisation is changing working methods and roles. Management must demonstrate change management competence by involving employees and building trust.

3. Cost pressure & economic uncertainty

While regulatory and geopolitical risks are constantly increasing, margin pressure is rising at the same rate due to rising costs. This presents management with a double challenge.

  • Companies must optimise their processes in order to remain competitive. Investments in digital solutions and automation are necessary to increase efficiency and quality.
  • Rising energy prices, inflation, and high development costs are weighing on the industry.
  • Excessive regulation means that companies run the risk of investing funds in legal and compliance departments, thereby hampering innovation projects. Many companies now employ more lawyers than engineers.

4. Shortage of skilled workers

The shortage of skilled workers is forcing management to strike a balance between strategic actions such as talent acquisition and cultural change, and operational risks such as project delays and compliance. Without this balance, there is a risk of innovation bottlenecks, cost explosions and competitive disadvantages.

  • The demand for experts in research, clinical trials and digital technologies continues to grow. This is because many skilled workers are retiring.
  • Investment in recruitment (example with Wirz& Partners), employer branding and further training is extremely important. Competition is leading to rising salaries and additional benefits.
  • Skills in AI, data analysis and regulatory processes are particularly in demand, as are profiles with experience in change management, regulation and digital transformation.

5. Market consolidation

Market consolidation is forcing management to consider growth strategies (M&A, partnerships) and efficiency improvement programmes at the same time.

The aim is to maintain a stable corporate culture and secure innovation. Companies that do not proactively address this issue risk losing their competitiveness and/or market share.

  • High regulatory requirements and rising R&D costs are driving mergers and acquisitions.
  • Consolidation is leading to more and more large players dominating the market and ultimately dictating prices.

6. Sustainability & ESG (Environmental, Social, Governance)

ESG is no longer a marginal issue, but belongs on the board's agenda. It is a strategic imperative that affects the entire management of a company.

  • Sustainability is not only a duty, but also an opportunity: the development of reusable or biodegradable medical devices can open up new markets. -> Over 60% of medical devices are single-use products, often made from plastics that are difficult to recycle.
  • High safety and hygiene standards make it difficult to implement ‘reuse, reduce, recycle’.
  • The healthcare industry accounts for around 4–5% of global CO₂ emissions, with medical technology and pharmaceuticals contributing two-thirds (quote: specialist article on the healthcare industry).

7. Security & resilience

It is important for senior management to view resilience as a strategic success factor rather than a reactive measure. This is no longer purely an IT issue, but a matter for top management.

  • Managers need to understand risks, set priorities and establish a culture of digital vigilance.
  • Traditional prevention is no longer enough! Integrated approaches with crisis plans and emergency drills are required. New working groups must be set up to focus on crisis resilience and cyber attacks.
  • Cybersecurity is increasingly becoming a key priority due to networking and outsourcing. Investments in backup systems, monitoring and regulatory affairs are necessary to address the issue comprehensively.

8. Transformation & standardisation

Standardised processes are not only necessary from a regulatory perspective, but also a prerequisite for successful digital transformation and automation. In regulated industries such as medtech and healthcare, process standardisation is not only a regulatory requirement, but also a strategic lever for efficient service delivery. After all, those who neglect their own processes cannot achieve future-oriented further development in their processes.

  • Increased efficiency: Clear processes enable faster decisions.
  • Digitalisation: Uniform standards are a prerequisite for automation and digital transformation.
  • Quality and security: Minimising risks and ensuring compliance.

Securing leadership in complex markets

 

Wirz and Partners supports our clients in the increasingly important task of recruiting and managing the right employees in the right place. Putting our clients in the best possible position to master the challenges they face is the driving force behind our headhunting services.

We combine in-depth industry knowledge with methodological excellence (W-SCIAF Method) to identify individuals who not only accompany transformation, but drive it forward. Our goal: to find the right people for your company – so that you can lead, grow and shape your business with confidence, even under pressure.

 

Our sector for the healthcare and life sciences industry

 

Wirz & Partner covers the entire value chain in the fields of medical technology (MedTech), biotechnology, pharmaceuticals, diagnostics, digital health and healthcare services. These industries are characterised by innovation, regulatory complexity and high standards of quality and patient safety.


Typical roles: C-level (CEO, COO, CMO), specialists in regulatory affairs, clinical operations, R&D, and digital experts in health tech and AI.

 

Our approach – added value from Wirz & Partner


Wirz & Partners offers:

  • Cross-industry networks: access to top international talent. 
  • Expertise in regulated environments: we understand the importance of standardisation and compliance for sustainable success.
  • Individual solutions: tailor-made executive search strategies for complex markets.
  • Confidentiality and precision: Discreet processes and the highest quality in candidate selection.

 

At Wirz & Partner, we have a dedicated team of headhunters and industry experts who support leading companies in the European medtech, life sciences, and healthcare industries in filling board, executive, C-level, and top management positions.

 

 

Ready to find the ideal candidate for your next key role in medtech?

"Contact us for tailor-made solutions in executive search for medtech, life sciences and healthcare. Together, we will shape the future of your organisation."

 

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