Medical device companies invest in internationalization

With a corporate pro-business and pro-innovation environment, Connecticut wants to attract Brazilian medical devices companies

Durante dezenas de reuniões com empresários do segmento de equipamentos médicos, During dozens of meetings with executives from the medical devices segment, Beatriz Gutierrez, from Connecticut Department of Economic Development, was able to observe the growing interest of Brazilian companies in internationalizing their operations. It seems to be a consensus among the executives with whom Beatriz talked to the idea that “no company can strengthen itself without having an international presence,” as pointed out Paulo Henrique Fraccaro, chief executive of Abimo *, in an interview to the Valor Econômico (05/29/2015).

Beatriz Gutierrez visited Brazil between May 18-22 and talked to executives from the industries of medical devices, aerospace, information technology and biotechnology, sectors considered strategic for the economic development of Connecticut. The purpose of the visit was to present the incentives and benefits offered by Connecticut for high-tech companies. With a corporate pro-business and pro-innovation environment, Connecticut could be an alternative for those who are seeking to diversify their markets and increase their innovative capacity.

According to the Special Health Technology, published by Valor Econômico, on May 29th, the health industry in Brazil face insufficient investment in R&D, excessive bureaucracy and taxes. In Connecticut, executives from various countries face a different situation: high volume of investment in R & D, non-bureaucratic and pro-business environment, highly skilled and productive workforce, strategic location, and access to domestic and foreign markets. Only in Connecticut there are more than 650 companies of medical devices, which generate more than 7000 direct jobs.

To attract high-tech companies, the Connecticut Department of Economic Development offers incentives and competitive benefits, financing through grants and loans, up to 50% of the project of a company seeking to invest and generate jobs in the state.

For more information about the Invests CT project, contact: karina@paseliconsulting.com

* Brazilian Association of the Medical Equipment, Dental, Hospital and Laboratory Industry