5th July 2016

ABHI: Brexit Update

Given the rapid developments and continued uncertainty following the recent EU referendum, ABHI has circulated an update to shape both the long-term outlook for the medical technology industry and address near-term business needs.

The sector was represented at Tuesday 28th June’s business leader round table hosted by Sajid Javid MP, the Secretary of State for Business, Innovation and Skills. ABHI has also been in touch with senior officials in NHS England, NHS Improvement and the Department of Health.

ABHI’s messages have been that:

• The NHS must demonstrate it is open for business and a vehicle to drive economic growth in our country
• Unified regulatory arrangements must be maintained
• The immediate impacts of currency depreciation are offset by policies to reduce the cost of doing business

ABHI has argued strongly that our SMEs are under particular pressure. General uncertainty is making investment more difficult, a weakened pound is driving up the cost of raw materials and the increasingly short-term, price focused NHS procurement initiatives risk drastically reducing the supplier base. The team will be assertively pursuing actions to support smaller companies.

Given the level of uncertainty, ABHI also believes that the upcoming Accelerated Access Review is an opportunity to demonstrate that the NHS remains a valuable and exciting investment destination for MedTech companies of all sizes. Their work to advance market access assumes ever more importance in this regard.

ABHI would like to collect feedback on the impact of the Brexit vote, and welcome comments and reflections to brexit.info@abhi.org.uk.