Better links between the health technology sector and the health service are behind a plan to establish a national health innovation hub, say Economic Development Minister David Carter and Health Minister Tony Ryall.

The hub will assist with developing health technology ideas generated by clinicians and companies into business propositions, products and services.

“New Zealand’s health technology industry currently generates $1.8 billion in annual revenue but there is plenty of room for growth,” says Mr Carter.

“The new hub will be a catalyst for innovative ideas coming from our health technology sector. It will streamline links between the health service and industry, spread new products and ideas and commercialise intellectual property.”

“Many companies in our health sector are renowned for their innovative products, such as advanced communication technologies and medical devices. The innovation hub will help them take their ideas even further,” says Mr Ryall.

“The hub will provide more support for innovative companies to develop products in conjunction with their customers (DHBs) and the real winners can be New Zealand clinicians and patients.”

The hub will be based within a core group of District Health Boards – Auckland, Counties-Manukau, Waitemata and Canterbury. Its projected cost is around $24 million over five years, with the Government committing $3 million to the project and the balance made up from a mix of public and private sources.