Commercialise world class innovation on behalf of private equity owners

From Start-up to specialist in innovative technology for the Med-tech industry

Transforming a research lab to a top class invention and development house

My client possessed unique technical know-how and a wide patent portfolio. Leading private equity and venture capitalists had invested 6 digit US$ and were looking for a quick commercialisation. Later the company was listed at a European stock exchange.

The mission: Bring the technology to commercialisation

Solution: The client originally being a research laboratory, our first task was to separate the entities founder/inventor and the company, including definition of interfaces.
Next step was to map the potential market and its value chain, in search of the correct business idea (What market space we aimed to serve), and to build a complete business plan including strategies and viable business models.
We established a totally new player in this market; An Innovation and Development house serving established companies with innovative product concepts, releasing untapped revenue by serving new end-user markets. This was a perfect fit since the leading companies were dry on innovative products and internal resources. We delivered the new concepts from invention and design, via prototypes to pre-series machines ready for market test.
To pitch to the leading potential customers, the technology was packaged as product platforms, concepts, serving as bases for new market applications. Supplementary technology was invented.
Negotiations were initiated with the commercial management of the target customers, emphasising the new business potential, which Passadvinden´s client's solutions could release. It was critical to win commercial management at an early stage, since the customer's research and development departments are the main competitors of our client (See particularities). Negotiations contained strong elements of business development, to show market value, on behalf of the customers who for long time had lived in an oligopoly and a strong “engineering culture”, not thinking too much in commercial terms.


  • First commercial contracts signed
  • Presented 2007 Entrepreneurial Award by leading analyst society based on the unique combination of innovative business model and technology
  • Several commercial negotiations pending

The potential customers of our client, the world’s leading medical technology companies, are forming an oligopoly where the 3 leaders have more than 80% of the global end user market, the hospitals. The industry leaders in the oligopoly are lacking growth opportunities due to the inability to launch new market driving applications, in spite of their possession of huge R & D departments.

The CEO of Passadvinden´s client was an innovator with scientific background being less commercially and industrially experienced, so one of David Ericksson's additional vital functions was to work in pair with him and give direct support in general management, commercial issues and high level customer negotiations.

Important Adjacent Industries:
The company was originally owned by a few Private Equity and Venture Capitalist firms. Later it was listed at a stock exchange, so powerful market communication was a key element. Other important interfaces were Health Care providers as they were the customer's customers and provided useful input to the product development, as well as provided useful market pressure on the customers.