Establishing the Digital Transformation Strategies for the Med-Tech Enterprises Based on the AIA-NRM Approach

Abstract

The medical technology (Med-Tech) industry turnover has reached a record high, attracting a great deal of capital investment, while mergers and acquisitions continually increase. In order to move to a higher value-added segment, traditional Med-Tech manufacturers have to transform into digital smart manufacturers. This development trend promotes industrial operators of Med-Tech to consider how to strengthen professional competence, expand their market, and determine the future direction. This study proposed the value-driving forces of Med-Tech enterprise, based on five aspects: Professional competence (PC), operation management (OM), critical resources (CR), regulatory system (RS), and market expansion (ME). Then, the acquisition and importance analysis (AIA) and the network relation map (NRM) approaches were proposed and implemented to find an optimal pathway for a Med-Tech enterprise to implement digital transformation. Our findings suggest that Med-Tech enterprises should treat RS as the priority in transformation. Finally, based on small- and medium-sized Med-Tech enterprise scenarios, we propose four development strategies (direct acquisition, strategic alliance, maintenance status, and in-house development) should be decided in the digital transformation process.

Keywords

• Usage intention medical technology (Med-Tech) enterprise
• small- and medium size enterprise (SME)
• digital transformation
• acquisition and importance analysis (AIA)
• network relation map (NRM)