The pandemic has sparked a shift in many business models around the world, especially in the MedTech industry. The old manual labor model has sharply transitioned into businesses leaning on digitization and remote working models to cut costs, innovate, discover new drugs, enhance clinical trials, improve efficiency, boost productivity, and cut waste. Businesses quickly realized that shifting to a highly collaborative working model and relying on AI to reduce costs stimulated new partnerships and improved data-driven decision-making and the speed of financial insights.

In this new landscape, companies are transitioning from the merger mentality to business partnerships with the goal of new drug discovery and medical innovations. Companies and regulators have also changed their business models to reflect a more cooperative and collaborative relationship, reducing barriers to meet urgent demands. This model isn’t going away anytime soon; in fact, it’s ushering in digital transformation as our next strategic step in healthcare.

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