A transformative medtech partnership between top Victorian tertiary educator Monash University and one of the world’s leading hospitals in Sheba Medical Center is set to help improve healthcare and boost medtech innovations with the recent signing of a Memorandum of Understanding.
*Image courtesy of Monash University
The MOU aims to research and develop more equitable healthcare models and medtech manufacturing opportunities in Victoria, and to support this, the State Government of Victoria will invest around $200,000 with Monash University’s Victorian Heart Institute to improve access to the latest technology, enabling faster adoption of new treatments for cardiovascular diseases.
Monash University is Australia’s largest university and was named as the world’s best in Pharmacy and Pharmacology in 2022 – the first Australian institution to receive this recognition.
Sheba Medical Center is recognised as one of the world’s leading hospitals, specialising in the use of artificial intelligence (AI), robotic surgery, digital imaging and telemedicine, developed through its in-house innovation hub.
The partnership is expected to enhance Victorian healthcare delivery, create global investment opportunities, and pave the way for local companies to create new jobs in medtech research, manufacturing and export.
The State Government of Victoria has supported several major medtech projects to ensure Victoria continues to have one of the world’s best medical research and technology sectors, including the establishment of the $20 million Australian Medtech Manufacturing Centre, mRNA Victoria, and investments into medtech startups through LaunchVic and the Breakthrough Victoria Fund.
Victoria’s medtech sector creates $21.4 billion in revenue, $3.5 billion in exports and supports around 31,400 jobs.
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