We offer a wide range of market access options for medical device companies looking to enter and achieve long-term growth in Colombia —and the rest of Latin America
Our offering covers the full circle of activities necessary to establish a presence in the Colombian and greater Latin American market.
Objective: Establish internal preconditions for a successful market entry into the target market.
Internal competency, structures, and resources need to be established as first preparations for entry into new markets. The internationalisation strategy for an overseas market needs to be framed within a medium or long-term planning horizon.
We will review your internal preparedness and will assist you to complete these pre-conditions. We also pay attention to practical details such as a correct translation of company presentations and marketing material into Colombian Spanish.
- Internal readiness check
- Executive briefing
- Initialization workshop
- Gap analysis
- Support in initial preparations: Translation, design of marketing material, website
Result: You are fully prepared to start an in-depth assessment of the target market.
Objective: Acquire market know-how through active market research and cultivation.
Two things are key when approaching a new market:
- Local market knowledge (distribution channels, price range, cultural aspects, stakeholders)
- Trustworthy local contacts with influence and experience in the market
With our “Market Testing” offering we are breaking new ground*: We test your product/service/concept usually for a period of 30–90 days in the market and investigate directly with potential customers and other stakeholders, potential market entry strategies, required cultural adaptations, and reflect about marketing and pricing implications.
This offering requires a local presence, in-depth know-how of industry and local culture, and a strong local network.
- Our “Market Testing” offering will introduce your product/service/concept in the market! This helps create contacts, leads or even first sales.
- “Market Testing” creates the basis for the next step which aims to create a business model tailored to local market conditions.
- Market research
- Product-to-market exposure
- Stakeholder/expert interviews
- Potential lead generation
Result: You receive concrete market know-how and assessments instead of theoretical research.
Business Model Generation
Objective: Develop the adequate business model as essential part of a business plan, adapted to local market conditions.
Based on the insight gained in the previous steps of “Market Testing” we develop a business model fully adapted to the target market, taking into account cultural realities and local market conditions.
Our business model focuses on the analysis and identification of the ideal distribution channels, considerations of culture-related product/service adaptations, pricing strategies, as well as ease of integration of the business model into a regional strategy.
We will develop the business model and integrate it into a business plan in preparation for a definite market entry.
- Result analysis
- Client review & workshop
- Business plan
- Marketing plan
- Sales strategy
- Training plan
- Budget estimates
Result: A business plan (with the new business model as centre piece) with measurable objectives taking in consideration for local market conditions and the resources of the client.
Business Model Implementation
Objective: Establish local structures and functions based on the business model (previous step); or implement a pilot project, respectively. Structures and functions are being implemented according to the business plan.
- Greenfield implementation
- Site/office selection
- Legal advisory
- Trademark registration in Colombia (you need to protect your trademark from infringement by third parties)
- Medical product registration: Dossier preparation and submission at Colombia's Ministry of Health (regulatory agency: INVIMA)
- Establish legal entity
- Importer of record and/or distributor search and selection
- Personnel recruitment
- Legal representation
- Interim management
Our involvement in the establishment of local structures depends on the requirements of the client as well as on our resources available. It can be done,
- Exclusively by Interventional Concepts,
- Exclusively by the client or contracted out to a third party,
- In cooperation between various partners (Interventional Concepts, client, third party).
Results: A fully implemented business model structure enabling the start of operations.
Objective: Successful business operations in the target market.
Interventional Concepts can also operate as a local operation outsourcing company to contract sales forces or project teams. Our "Operations“ offering comprises all functions and processes included in the operational area of the business. Thanks to our local structures and networks, we can support you in a variety of business functions. Based on your needs we can even take over parts of your operations temporarily or on a more permanent basis (outsourcing).
- Legal representation
- Management & operations support: Accounting (payroll, corporate and sales tax), logistics (import, customs warehousing, outbound invoicing, A/R), sales & marketing, reporting
- Hosting of local and international personnel (local contract mgt., payroll admin, international visa, relocation services)
- Clinical trials for regulatory approval or marketing and physician adoption purposes
- Provide infrastructure (office space, warehousing, logistics, local network)
- Take over functional activities (e.g. admin, finance, marketing/sales)
- Project management (e.g. trade fair representation)
- Manage regional distributors (communication, support, training, controlling, troubleshooting, assistance at client meetings)
If a subsidiary is too expensive because of bonded management, investment, time resources or other reasons, companies tend to work with distributors abroad. Typical distributors usually have an extensive portfolio of (potentially competing) products and services. But the sales process of highly priced products is much more complex. It requires maintenance capabilities, time and opportunities to explain the principles of a business.
Typical distributors tend to prefer the easy way: Sell cheaper products and realize short-term gains. Distributor strategies are often not in line with the manufacturer and lack control. Such differences can impede effective cooperation. And most important: Margins have to be shared with the distributor!
Result: Operational targets being met or exceeded, sustainable growth and success in the target market.