With potential tariffs and other changes in the US market, it is important for European companies to show they have a scalable model if they want to break into the market. Image credit: Tomas Ragina / Shutterstock.

European companies must be able to provide developed and scalable business models if they want to enter the US to manage the changing landscape, experts have said.

At HLTH Europe, held in Amsterdam, Netherlands, from 16 to 19 June, a panel discussed what European companies need to consider if they hope to gain access to the US market.

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In a time of uncertainty with potential pharmaceutical tariffs incoming, it is more important than ever for European companies to be prepared for the US market.

John Scannapieco, partner at Womble Bond Dickinson LLP, said that companies need to be ready to scale up if they want to move into the US market.

Scannapieco said: “The problem a lot of times is that a company’s solution is not yet fully developed or scalable. You have to be in a position where you’ve got something developed and then you’ve got something that’s scalable fairly quickly.”

But to be able to do this, you must also have the right pitch to interest US investors, added James Douglas, US advisory partner at Frazier & Deeter Advisory.

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Douglas said: “You have to be able to tell that story quickly. Being able to come in and have that 32-second elevator pitch that tells them the problem and how you’re solving it is what they care about.”

Rajarshi Banerjee, CEO of Perspectum, an imaging company which does have a US presence, added to this by saying if you have a scalable model, it will work in the US, if you find the right investors.

“If someone likes what you have and it scales, it will work – if you have the right science that translates very easily,” Banerjee explained.

Banerjee added that you must also know what solution a provider is seeking before approaching them.

“Mobile MRI scanners, for example, can go to hyper rural areas, so you can negotiate with Arizona, for instance. But they don’t care about that in Manhattan because they will say: ‘We don’t need this’. Manhattan has a high density of MRI scanners, so you have to contextualise,” Banerjee explained.

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