Medical Device Innovation Award

celebrating innovative products that improve the quality and cost-effectiveness of healthcare

Background

As home to one of the world’s most significant medical device clusters, Massachusetts’ companies are designing and producing some of the most advanced medical technology products available. The Massachusetts Medical Device Industry Council (MassMEDIC) seeks to recognize innovative medical products, developed and manufactured by member companies that improve the quality and cost-effectiveness of healthcare delivery.

The Nixon Peabody/Smith & Nephew Medical Device Innovation Award will honor novel medical technologies that have demonstrated a positive outcome in the healthcare setting. Awards will be given in each of three main categories:

· Start-up companies with $0-$4.9 million in annual revenue.

· Early-stage companies with $5 - $10 million in annual revenue.

· More established medical technology companies with $10 million or more in annual revenue.

MassMEDIC will honor recipients at a luncheon ceremony during the annual MedTech Investors Conference, to be held on Tuesday, November 1, 2005 at the Park Plaza Hotel in Boston.

MassMEDIC is grateful to Nixon Peabody, LLP and Smith & Nephew Endoscopy for their support of this award program.

Rules

Eligibility

The Nixon Peabody/Smith & Nephew Medical Device Innovation Award is open to all current medical device manufacturing members of the Massachusetts Medical Device Industry Council that:

· are headquartered in Massachusetts or the surrounding region; or

· have designed or manufactured the nominated product in Massachusetts or the surrounding region.

The competition is open to finished medical devices including instruments, machines, implants, in vitro reagents, or related products that are intended for the diagnosis, cure, mitigation, treatment, or prevention of disease or other conditions in humans or animals All entered products must be commercially available, able to be ordered or purchased, by September 1, 2006. Such availability is not limited to products approved for marketing in the United States.

Entries are not accepted from sponsoring companies or from jurors, their companies, clients, or those companies' subsidiaries, in the year they act as sponsors or jurors. Any product thus disqualified may be entered in a subsequent year.

Entry Materials

Entrants must complete an entry form (attached) providing corporate information and detailed background on the device to be reviewed.

All entry materials (including photos, graphics, and exhibits) must accurately represent the commercially available product. MassMEDIC reserves the right to withhold or withdraw awards given for any product later found not to be in the form described in the entry.

All entry materials (exclusive of sample products) become the property of MassMEDIC and will not be returned.

No materials submitted in conjunction with an entry will be considered confidential.

Judging

All entries will receive an initial screening and be forwarded to a review panel for final action. The review panel will be comprised of healthcare practitioners and administrators, medical insurers, product design specialists, and industry executives from non-competing companies. The members of MassMEDIC’s review panel reserve the right to investigate and confirm any information presented in an entry. MassMEDIC reserves the right to withhold or withdraw awards given for any product whose entry is found to be inaccurate.

The review panel may elect to present as many or as few awards as it deems merited by the quality and number of entries, irrespective of category.

The decision of the jury shall be final.

MassMEDIC reserves the right to clarify or amend the rules and procedures pertaining to the Nixon Peabody/Smith & Nephew Medical Device Innovation Award competition at any time.

Rules Applicable to Award Winners

By entering the awards competition, you agree that if you receive an award you will comply with the following terms.

MassMEDIC may publicize the competition and its outcome, including the names of the winning products, the proprietors of the winning products, and the names and likenesses of the individuals who contributed to the winning products.

You will not cite the award in any way that states or implies that: (a) MassMEDIC, the review panel or any sponsor of or participant in the competition endorses the product; (b) your device was actually tested or its scientific principles were validated as part of the competition; or (c) the award is a confirmation of the safety and efficacy of the device or of any of the claims made concerning the device.

When citing the award in advertising, promotional material, or publicity concerning your company or business, the following language is recommended to ensure there is no misunderstanding about the award: "Award is based upon descriptive materials submitted to the jurors; the jurors and the competition operators did not verify the accuracy of any submission or of any claims made and did not test the item to which the award was given."

Entry Form

To request an entry form for the Nixon Peabody/Smith & Nephew Medical Device Innovation Award, please contact MassMEDIC at info@massmedic.com. An entry form will be returned to qualified applicants.