Turkish Health VC Fund Will Invest In US
Turkey will found a venture capital fund to acquire promising pharmaceutical start-ups and to support Turkish researchers in the US. The initiative comes from the industry, with support from the Turkish government. It is expected to gather pace after the elections on June 24.
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The devaluation of the Turkish Lira since May is making imports of medical devices more expensive and putting hospital procurement under renewed pressure. The local medtech industry associations TUMDEF and ARTED describe the problems ̶ and the solutions ̶ to Medtech Insight.
Turkish medtechs’ demands for payment of their outstanding hospital debts went unheeded in 2021, but the government has finally started a payment process. It is not evenly applied, and has started in a small way, but the industry feels encouraged on more than one count.
Amid delays in surgical operations caused by shortages of equipment and medtech companies demanding payment of outstanding hospital debts, a strong devaluation of the Turkish lira has put the local health care system on a crisis footing.