Biomedical Innovation & Venture Creation Report on Siemens Healthineers

The mission of this report is to examine the Biomedical Innovation and Venture creation of one of the most renowned Biomechanical company named Siemens. The target market has been chosen as Saudi Arabia. The report examines various business strategies that include RAISON D’ETRE including Mission Passion, Values; Market analysis including TAM, persona; VALUE CREATION including Product Description, Problem, Quantified Value Proposition and others. Product Unit Economics has been also analysed using COCA and LTV.

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1BIOMEDICAL INNOVATION & VENTURE CREATION
Executive Summary
The mission of this report is to examine the Biomedical Innovation and Venture creation of one
of the most renowned Biomechanical company named Siemens. The target market has been
chosen as Saudi Arabia. The report examines various business strategies that include RAISON
D’ETRE including Mission Passion, Values; Market analysis including TAM, persona; VALUE
CREATION including Product Description, Problem, Quantified Value Proposition and others.
Product Unit Economics has been also analysed using COCA and LTV.

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Table of Content
1 RAISON D’ETRE.............................................................................................................5
1.1 Mission:......................................................................................................................5
1.2 Passion:......................................................................................................................5
1.3 Values:.......................................................................................................................6
1.4 Initial Assets:..............................................................................................................6
1.5 Initial Idea:.................................................................................................................7
2 INITIAL MARKET...........................................................................................................7
2.1 Beachhead Market.......................................................................................................7
2.2 End User Profile..........................................................................................................8
2.3 TAM:.........................................................................................................................8
2.4 Persona:......................................................................................................................9
2.5 10 Customers:.............................................................................................................9
3 VALUE CREATION.......................................................................................................11
3.1 Use Case:..................................................................................................................11
3.2 Product Description:..................................................................................................11
3.3 Problem:...................................................................................................................12
3.4 Quantified Value Proposition:.....................................................................................13
4 COMPETITIVE ADVANTAGE......................................................................................13
4.1 Moats:......................................................................................................................13
4.2 Core:........................................................................................................................14
4.3 Competitive Positioning:............................................................................................14
5 CUSTOMER ACQUISITION..........................................................................................14
5.1 Decision Making Unit:...............................................................................................14
5.2 Customer Buying Process:..........................................................................................15

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5.3 Windows of Opportunity:...........................................................................................16
5.4 Possible Triggers:......................................................................................................16
5.5 Regulatory Strategy:..................................................................................................16
5.6 Reimbursement Strategy:...........................................................................................17
6 PRODUCT UNIT ECONOMICS......................................................................................17
6.1 Business Model:........................................................................................................18
6.2 Pricing:.....................................................................................................................18
6.3 Short Term LTV:.......................................................................................................18
6.4 Short Term COCA:....................................................................................................19
6.5 Medium Term LTV:..................................................................................................19
6.6 Medium Term COCA:...............................................................................................20
6.7 Long Term LTV:.......................................................................................................21
6.8 Long Term COCA:....................................................................................................21
7 SALES...........................................................................................................................22
7.1 Preferred Sales Channel:............................................................................................22
7.2 Sales Funnel:.............................................................................................................23
7.3 Short Term Mix:........................................................................................................23
7.4 Medium Term Mix:...................................................................................................24
7.5 Long Term Mix:........................................................................................................24
8 OVERALL ECONOMICS...............................................................................................25
8.1 Estimated R&D Expenses:.........................................................................................25
8.2 Estimated G&A Expenses:.........................................................................................25
8.3 LTV/ COCA Ratio:...................................................................................................25
9 DESIGN & BUILD.........................................................................................................26
9.1 Key Assumptions:.....................................................................................................26

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9.2 Assumptions Tests:....................................................................................................27
9.3 MVBP:.....................................................................................................................27
9.4 Tracking Metrics:......................................................................................................29
10 SCALING.....................................................................................................................30
10.1 Product Plan for Beachhead Market:.........................................................................30
10.2 Next Market:...........................................................................................................31
10.3 Product Plan Beyond Beachhead Market:..................................................................31
10.4 Follow-on TAM:.....................................................................................................32
11 VENTURE FORMATION.............................................................................................33
11.1 Stakeholders:...........................................................................................................33
11.2 Define Roles & Responsibilities:...............................................................................33
11.3 Assign Roles & Responsibilities:..............................................................................34
11.4 Engagements:..........................................................................................................35
11.5 Corporate Filings:....................................................................................................35
11.6 Formation Agreements:............................................................................................35
12 CAPITALIZATION......................................................................................................36
12.1 Capital Need:..........................................................................................................36
12.2 Use of Funds:..........................................................................................................37
12.3 Offering Type:.........................................................................................................37
12.4 Pre-Money Valuation:..............................................................................................38
12.5 Post-Money Valuation:............................................................................................38
12.6 Investor Profile:.......................................................................................................39
12.7 Investor Persona:.....................................................................................................39
12.8 Ten Investors:..........................................................................................................40
References:........................................................................................................................41

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1 RAISON D’ETRE
1.1 Mission:
The mission of Siemens Healthineers is to be the most trusted partners, which possess the
potential to enable the health systems as well a healthcare providers worldwide for enhancing the
medical outcomes while reducing the costs. According to Matthias Platsch, Head of Services, by
adding the series of Medicalis’ technology solution to the portfolio of Siemens Healthineers
organization, the organization is targeting to complement as well as support their offerings to the
population of Health Management and Value-Based Healthcare (Acs et al., 2016). Currently the
management is considering it as key priority for their ongoing expansion through their business
services.
1.2 Passion:
As per the management of the organization, their passion is to minimize healthcare issues
of the world by provision of efficient healthcare as well as laboratory equipments. The culture of
the organization has been designed to inspire the employees to put their hearts into healthcare.
The culture is shaped by the by the principles of the organization. Those principles not only
guide the behaviours as well as values of the organization but also allow the same to tap into the
rich learning capability within the organization. In order to emphasis on their passion, the
management of Siemens Healthneers believes their employee to be their power. According to Al
Shammari et al., (2016), the company possess 50,000 employees across the world who
demonstrates companionate as well as supportive ways while handling their profession which in
turn attract more consumers towards the organization.

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1.3 Values:
The chief three values of the Siemens Healthineers organization are responsibility,
Excellency and innovativeness. According to the management of the organization, the three core
values of the organization are responsible for the success of the same over 160 years.
Responsibility defines the way the organization is committed to the ethical as well as responsible
actions. When it comes to excellence, it is based on achieving high performance along with
excellent results. Lastly, by innovation, the organization ensures creating sustainable values. The
vision of the organization, that is to be the pioneer of the time, motivates the company to perform
their job effectively.
1.4 Initial Assets:
The chief initial assets of the company are its huge workforce, high brand equity, yearly
revenue and massive consumer base across the world. The current workforce of the organization
is 45,000. In order to maintain the efficiency of the employees and thus enhance organizational
performance, the organization uses innovative as well as personalized staff development,
coaching as well as training solutions. Not only has this, for preventing attrition and loss of
efficient workforce, the organization used several intrinsic as well as extrinsic motivational
techniques in order to enhance the performance of the consumers (Alharbi, Atkins & Stanier,
2015). The highly qualified and experienced workforce of the organization is considered to be
one of the chief reasons behind its high brand equity and yearly revenue. When it comes to the
massive consumer loyalty of the company, efficient offline as well as online marketing can be
considered as the chief tool to attract consumers towards the organization.

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1.5 Initial Idea:
In the year 1847, the organization started as a small family business in Berlin and was
founded by Werner Von Siemens. The history of Siemens Healthineers started in Berlin in the
mid-19th century as a part of what is now known as Siemens AG. Siemens & Halske was
founded by Werner von Siemens and Johann Georg Halske on 12 October 1847 (Alkhamis et al.,
2017). The company was formed around the inventions created by Siemens known as the
pointer telegraph. In the new invention, a needle was used to point out the sequence of letters
instead of using the Morse code. Eventually, the organization included electrometrical
equipments along with specializing in medical technology. Siemens Healthineers is connected to
the larger corporation, Siemens AG. The name a Siemens medical solution was adopted in the
year 2001, and the change to Siemens Healthcare was made in 2008.
2 INITIAL MARKET
2.1 Beachhead Market
The initial market of the organization is healthcare organizations of the countries in
which they have established their business. A beachhead market is defined as a small market that
possesses specific characteristics for making it an ideal target for selling new product as well as
services. The choice of the market is totally based on the compatibility between the product and
the resources available along with the market itself. In this case the product for the beachhead
market of Saudi Arabia will be the general imaging and diagnosis systems including X-Ray,
MRI, CT scanning and Advance digital imaging. The market is supposed to help the organization
to achieve its goals along with assisting the sae to advance from its infancy to other markets

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(AlShammari, Jennings & Williams, 2017). The organization has already presented the advance
imaging and diagnosis products in a good number of developed as well as developing countries.
Considering the fact that the healthcare equipment manufacturing industry of the western world
is getting saturated due to excessive competition between the competitors, the current beachhead
market of the organization for the advanced imaging and diagnosis products will be Saudi
Arabia. The healthcare organizations of Saudi Arabia are developing and the government of the
nation is trying to enhance the efficiency of the healthcare home through implementation of
modern healthcare equipments. Thus, the mentioned market of Saudi Arabia possesses the
potential to farther enhance the profitability of the organization to a great extent.
2.2 End User Profile
The end users of the advanced imaging and diagnosis products will be the patients and
care receivers of the healthcare centres. Considering the fact that the qualities of the advanced
imaging and diagnosis equipments offered by the organization to the consumers are higher
compared to its competitors, the healthcare homes using the equipments manufactured by the
Siemens Healthineer company are generally found to treat patients who belongs to the middle
class, upper middle class as well as elite lass of the society (Barr, 2016). When it comes to age,
the organization manufactures healthcare equipment that is required to treat patients of all ages.
2.3 TAM:
Total addressable market refers to a term that is typically used for referencing the revenue
opportunity available for a product as well as service. TAM helps an organization to assess its
business opportunities by serving as a quick metric of the underlying potential of a given
opportunity. According to researchers, due to increasing cost of imaging products in healthcare

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industry, majority of the developed as well as developing healthcare organisations it is expecting
better product in lower cost. Therefore, by the year 2020, the total addressable market of the
advance imaging devices manufactured by Siemens will be more than 12.3 billion dollars
(Cooper, 2017). The domestic medical device industry of the nation is small, with a
disproportionate reliance on imports and a complex regulatory environment. The market of
advanced imaging products is expected to evidence growth by 15 percent, which is significantly
higher compared to the global industry growth by 4 to 6 percent.
2.4 Persona:
Persona in Marketing is defined as an imaginative profile of the Ideal consumer of an
organization. Considering the fact that the Siemens Healthiness conduct Business to business
deal, in the following table, a persona of Mr. M, the operational manager of XYZ organization
has been conducted (Eftekhari & Bogers, 2015).
Background
 Operational Manager of the XYZ
organization
 Working at the XYZ organization for
more than 10 years
 Married with 1 offspring
Demographics
 Male
 Age: 30-45 years
 Dual HH income: 140,000 dollards
 Suburban
Roles
 To manage the organizational issues
associated with production
 To conduct business deals
 To analyse the market in order to
understand both internal as well as
external environment.
Goals
 To select suitable suppliers for the
XYZ healthcare home.
 Enhance the revenue of the company.
 Enhance the consumer loyalty.

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2.5 10 Customers:
The chief 10 customer organization types of the Siemens Healthiness are as follows:
1. Government hospital
2. Private nursing homes
3. Non-Government organizations
4. Pathology laboratories
5. Medical research institutes
6. Rehabilitation centers
7. Vet nary health care homes
8. Distributing Networks
9. Sports organization
10. Paramedics

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Contact with Consumers
rom home country will enhance the investment cost of the organization. The second major issue faced by the organization
n the other hand, importing product from home country will enhance the investment cost of the organization. The second major
On the other hand, importing product from home country will enhance the investment cost of the organization. The second majo
ing product from home country will enhance the investment cost of the organization. The second major issue faced by the organ
ing product from home country will enhance the investment cost of the organization. The second major issue faced by the organ
ill enhance the investment cost of the organization. The second major issue faced by the organization includes lack of transporta
3 VALUE CREATION
3.1 Use Case:
3.2 Product Description:
The organization chiefly manufactures healthcare equipments that are required for
treating patients in the healthcare organizations. In this case the chief imaging products
manufactured by the organization will be:
 Advanced Imaging Angiography
 MRI
 Sliding Gantry CT
 X-Ray Machines
 Dedicated Cardiac System
 Stratus CS 200 Acute Care Diagnostic System
 Stratus CS Acute Care Diagnostic System

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 DCA Vantage Analyzer
 Digital Morphology Systems
3.3 Problem:
One of the major issues faced by the organization includes lack of efficient suppliers.
Considering g the fact that the organization required technologically advanced raw materials in
order to manufacture high quality imaging products, it will be difficult for the management of
Siemens to invest on efficient suppliers in the nation. On the other hand, importing product from
home country will enhance the investment cost of the organization. The second major issue faced
by the organization includes lack of transportation as well as internet facilities in the Saudi Arab
(Enteshari & Varshosaz, 2018). Lack of internet facility will make it difficult for the organization
to reach its target consumers through cost effective ways like social media marketing. Not only
this, the organization will also face issues while delivering products to the consumers due to lack
of transportation facilities.
3.4 Quantified Value Proposition:
When it comes to the quantified valued proposition, it can be defined as a clear statement
that explain how the advance imaging products and post purchasing service of Siemens will be
able to solve the issues of its target consumers along with specific values that the consumers and
obtain only from the company. The value proposition of the company includes its high quality
Imaging equipments that will provide the healthcare service users with accurate readings and
high endurance of their products (Freiberg, Schwarz & Fath, 2015). The quantified value
includes the affordable price range offered by the company along with the 2 years guaranteed
after service provided by the same.

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4 COMPETITIVE ADVANTAGE
4.1 Moats:
Moats is a economic strategy to keep the competitive advantage high of any organisation.
As a Biomedical company Siemens medical solution maintain a higher amount of assets
compared to the competitors, which allows them to invest more in an industrial dearth. Apart
from that the company also focuses on their total benefit, rather than focusing on only return on
investment. The Siemens Medical Solutions refers to a medical technology organization that is
located at Germany. The company was established n the year 1847 as a small family business in
Berlin (Gaynor, Ho & Town, 2015). Due to the high quality services as well as products
manufactured by the company, Siemens was highly recognized in the medical industry.
Currently, the organization is one of the most recognized manufacturers in the global biomedical
equipments manufacturing industry.
4.2 Core:
Innovation is strength of the company Siemens, that also promote their uniqueness of
product and service quality. For this core strategic policy the company invest a huge amount of
money and time to the research and development team. The basic principle of focusing on
innovation is reducing the total cost of the product to increase the market share, client base and
return on investment.

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4.3 Competitive Positioning:
In global market Siemens has many competitors who have enough financial backup as
well as supplier relationship to take the top most position of the industry. Therefore, both core
and moats competitive strategies of Siemens Company help them to increase their competitive
advantages. Besides, the competitive positioning strategy of this company considers both the
price and the quality attributes of their products (Haq et al., 2017). Making the quality high
without compromising the cost of the manufacturing is the main concern of the competitive
positioning of Siemens.
5 CUSTOMER ACQUISITION
5.1 Decision Making Unit:
Buyers Buyers are the professional function within an
organization generally responsible for
purchasing.
In this case the buyers are the healthcare
organization are the healthcare homes of
Australia
Gate-keepers Gatekeepers search for information and
delivering recommendations for those
decision-makers further up the line. Suppliers
are the gatekeepers for the organization
Users Users are those who put the service or product

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into operation once the deal has been
clinched. Patients are the users in this case
Initiators Initiators are the players who recognize that
there is a need to be satisfied or a problem to
be solved (Ilangovan, Mahanty & Sen, 2016).
Influencers Influencers are those who may have a
persuasive role in relation to the deciders.
Decision-makers Deciders in a large organization certainly are
responsible for making the final deal or
decision. Manages of the healthcare homes are
the decision makers.
5.2 Customer Buying Process:
The six steps that will be followed by the consumers that is healthcare homes of Saudi Arabia
while buying the products of the organization includes:
1. Reorganization of problem
2. Search for information
3. Evolution of Alternatives
4. Purchase decision
5. Purchasing the products
6. Post purchasing evolution

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5.3 Windows of Opportunity:
The chief opportunity that will be evidenced by the company while establishing its
business is the heath care industry of Saudi Arabia is the lack of competition and therefore lack
of saturation in the market. Hence it will be easier for the organization to attract potential
consumers towards them. In order to attract consumers’ offline promotional techniques like
sponsorship and campaigning will be more beneficial compared to online promotional
techniques (Järvinen & Taiminen, 2016).
5.4 Possible Triggers:
In order to promote the manufacturing Company the possible triggers are sponsorship to
the dental care hospitals where the Siemens supplies their biomedical equipment in order to
promote them. The other possible triggers are the supply of the biomedical equipment in the
campaign that promotes the manufacturing. Discount is also possible triggers that attract a
considerate number of customers to buy the product. Online promotion through social media to
engage customers (Enteshari & Varshosaz, 2018).
5.5 Regulatory Strategy:
 Monitoring employees to ensures the best manufacturing devices
 Collecting data from employees to supervise the progression of manufacturing
 Collecting data from the quality control team to identify the quality of the manufactured
product (Gaynor, & Town, 2015)
 Collecting data from the risk assessment team for addressing risk factors in the company
 Monitoring manufactured product supplies from suppliers (Gaynor, & Town, 2015)
 Monitoring the activities of distributors to distribute the product

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 Gathering resources from the comminute efficiently
5.6 Reimbursement Strategy:
 Identifying the factors that lead to the loss an invent a way to mitigate it
 Accelerate shifting the financial risk to provide for aligning the payer's providers incentives
(Barr, 2016)
 optimize the provider's network design and performance of the employees and other
stakeholders
 Supporting enhanced IT and business intelligence infrastructure
 Support the innovation. The key challenge, in this case, is to identify the point at which the
covering cost of utilizing new technologies and relate it to the product
 Integrate with providers to repay the loss.
6 PRODUCT UNIT ECONOMICS
6.1 Business Model:
In biotech industry or biomedical industry 4 types of business models can be operated
namely, Vertical Model, Platform Model and Integrated Model. Siemens operates the market
with wide verity of medical equipments that includes independent platforms and healthcare
operations (Kaftan, Kelly & Platsch, 2017). Therefore, the business model of Siemens mainly
utilises the integrated model for their strategic intervention in procurement, market penetration
and financial growth.

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6.2 Pricing:
In pharmaceutical and biomedical industry the pricing strategies are segregated into four
pricing types namely Premium pricing, Penetration pricing, Economy pricing and Price
skimming. Penetration prising is a strategy of penetrating the old market with new and
innovative products that can satisfy both the need and expectation of the customers. For global
market Siemens uses the market penetration pricing while utilising a new and innovative product
to capture the largest area of the market.
6.3 Short Term LTV:
LTV or Loan to Value ratio is an assessment of lending risk that any biomedical organisational
can avoid through proper mortgage usage (Khaled et al., 2015). Therefore the higher LTV ratio
indicates the higher risk of financial blockage. The mortgage amount of the Siemens for
improving the business condition in Saudi Arabia is 25,000,000 USD and the Appraised property
value is 45,000,000 USD. Therefore the short term LTV of Siemens Health Solution is
Mortgage Amount Apprised Property Value 25,000,000 LTV ratio
25,000,000 45,000,000 45,000,000 55.55%
The LTV ratio of short term is 55.55% which indicates that the mortgage amount of the company
is approximately half of the Apprised property value of the company. Therefore in this phase the
PMI will be also lower because of low LTV ratio.
6.4 Short Term COCA:
COCA or the Cost of Consumer Accusation is a measurement system of operational
accounting that calculates the total operational investment in promotion and marketing strategy
to acquire each customer. In biomedical industry Siemens has to invest a huge amount of money
to acquire customer loyalty (Lackéus & Williams Middleton, 2015). Because of several powerful

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competitors in global market the COCA of Siemens is high. At the same time, in Saudi Arabia
the large amount of distributors can create higher potential COCA. Therefore, the short term
COCA is
Investment for
promotion and
marketing
Current end user and
Consumer amount
25,000 COCA
25,000 USD 3000 3000 8.3
Therefore, as per the COCA ratio the average investment for acquiring existing level of
consumer loyalty the company has to estimate 8.3 as their promotional and marketing
investment.
6.5 Medium Term LTV:
LTV or Loan to Value ratio will be higher for 5 to 6 year of business growth. Therefore,
the assessment of lending risk in biomedical industry can avoid through proper mortgage usage.
The moderate medium term LTV ratio indicates the considerably risk of financial blockage. The
estimated mortgage amount of the Siemens for improving the business condition in Saudi Arabia
will be 55,000,000 USD and the Appraised property value could be 65,000,000 USD. Therefore,
the medium term LTV of Siemens Health Solution is
Mortgage Amount Apprised Property Value 55,000,000 LTV ratio
55,000,000 65,000,000 65,000,000 84.61%
The projected medium term LTV ratio is 84.61%, which indicates that the mortgage amount of
the company is approximately equal to the Apprised property value of the company. Therefore in
this phase the PMI will be considerably higher.

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6.6 Medium Term COCA:
The COCA of Siemens Health Solution in the market of Saudi Arabia can also provide
the medium term measurement system of operational accounting that calculates the total
operational investment in promotion and marketing strategy to acquire each customer. In
biomedical industry Siemens does not need to invest a huge amount of money in medium term
organisational growth to acquire the larger customer base. Because of higher market reputation
in global market the COCA of Siemens will be lower. At the same time, in Saudi Arabia the
large amount of distributors will create higher potentiality to reach the target customers.
Therefore, the medium term COCA will be
Investment for
promotion and
marketing
Current end user and
Consumer amount
20,000 COCA
32,0000 USD 4000 4000 80
Therefore, as per the COCA ratio the average investment for acquiring existing level of
consumer loyalty the company has to estimate 80 as their promotional and marketing investment.
6.7 Long Term LTV:
As per the potential market growth, LTV or Loan to Value ratio will be lower considering
the assessment of lending risk that as a biomedical organisational Siemens can avoid through
proper mortgage usage. Therefore, the lower long term LTV ratio indicates the lower risk of
financial blockage. The estimated long term mortgage amount of the Siemens for improving the
business condition in Saudi Arabia is 60,000,000 USD and the Appraised property value is
95,000,000 USD. Therefore the long term LTV of Siemens Health Solution is
Mortgage Amount Apprised Property Value 60,000,000 LTV ratio

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60,000,000 95,000,000 95,000,000 63.15%
The LTV ratio of long term is projected as 63.15%, which indicates that the mortgage amount of
the company will be approximately 60% of the Apprised property value of the company.
Therefore, in long term business growth the PMI will be also lower because of low LTV ratio.
6.8 Long Term COCA:
The long term COCA of Siemens Health Solution in the market of Saudi Arabia can be
estimated as a long term measurement system of operational accounting that calculates the total
operational investment in promotion and marketing strategy to acquire each customer. In
biomedical industry Siemens does not need to invest a huge amount of money to acquire
customer loyalty for a long run. Because of increasing reputation and innovative product
diversity the powerful competitors in the market of Middle East could be normalised. As a result
the COCA will be lower than ever. At the same time, in Saudi Arabia the large amount of
distributors can also make higher potential to reach the end users. Therefore, the long term
COCA is
Investment for
promotion and
marketing
Current end user and
Consumer amount
15,000 COCA
15,0000 USD 4500 4500 30.3
Therefore, as per the COCA ratio the average investment for acquiring higher level of
consumer loyalty in future the Siemens Health Solution organisation has to invest at the rate of
3.3 as their promotional and marketing investment.

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7 SALES
7.1 Preferred Sales Channel:
Sales Channel is basically a marketing strategy for the introduction of products as well as
services into markets in such a way that they are purchased by the customers. Sales Channel can
be direct and indirect. Direct sales channel involves direct selling of products to the customers
whereas indirect sales include business of products through an intermediary like a retailor or
dealer (Lichtenstein, 2016). The preferred Sales Channel in Siemens is a direct approach where
the products and including services are directly available to customers without the involvement
of any intermediate bodies. Thus, a flexible work schedule as well as low cost and low risk entry
points can be adopted.
7.2 Sales Funnel:
The Sales Funnel is a framework which illustrates the narrowing of the firm’s customer
base sequentially from potential customers who are interested in the firm’s services and products
especially to the customers who actually purchase (Jarvinen & Taiminen,2016). Siemens follow
a proper sales funnel which involves making the customers aware of the product, making the
product sales intriguing for customers to buy. It also involves evaluation with solutions of other
companies, followed by taking a proper decision finally followed by purchasing the product. The
following six step strategy taken by the company helps the product to be well understood and
easily feasible for the customers.
7.3 Short Term Mix:
Short term marketing strategies are the factors involved in a temporary enhancement of
business productivity. Such strategies seek to increase the maximum income also preserving the

23BIOMEDICAL INNOVATION & VENTURE CREATION
capital amount and increasing liquidity through more investments in money and securities
involved in a fixed income. The short term strategies followed by Siemens include introduction
of health campaign with an aim to increase awareness among the masses. The campaigns will
also be beneficial for the business strategies in terms of selling the product. It will further
promote the details of the product along with encouraging healthy lifestyles (Parveen, M.,
Maimani & Kassim, 2017). Moreover, such short term marketing strategies will disseminate
proper and well defined messages which are focused behaviorally to large audiences and in a
repeated manner over time alongside being low cost, enabling the social well-being of the
subjects.
7.4 Medium Term Mix:
Medium Term marketing mixes are the intermediate plans in order to achieve the long
term goals. Such medium term marketing strategies are useful especially when there is an
implementation of a meaningful goal. The usual tenure for the implementation of medium term
plans are 18 months. They primarily identify learning outcomes and objectives and include the
activities which will allow them to achieve it. Medium term marketing mixes used in Siemens
involve implementation of unique digital advertisements. Such advertisement should highlight
the purpose and use of the product in a different way in order to gain attention from the common
masses.
7.5 Long Term Mix:
The long term strategic marketing goals emphasize on the growth opportunities which
will be achieved in the next 10 years. A timeline is proposed exemplifying the various stages

24BIOMEDICAL INNOVATION & VENTURE CREATION
undertaken for the upsurge in business in various key stages. Long term marketing plan shows
the sequences of steps and strategies taken and distributed over various years focusing on the key
stages. The long-term marketing mix for Siemens includes its involvement in the field of e-
commerce. It would focus on the selling of products online with the help of the internet.
Commercial transactions if facilitated through the internet will boost the overall business
strategies and sales count of the given product. Moreover, it will be easier to share the details of
the product along with various factors involved to the customers on a global outlook.
8 OVERALL ECONOMICS
8.1 Estimated R&D Expenses:
Year Investment Research and Development Total asset after year ending
1st year 450,000 550,000
2nd Year 350,000 750,000
3rd Year 550,000 670,000
4th Year 620,000 580,000
5th Year 350,000 760,000
8.2 Estimated G&A Expenses:
Year Investment Research and Development Total asset after year ending
1st year 50,000 550,000

25BIOMEDICAL INNOVATION & VENTURE CREATION
2nd Year 80,000 750,000
3rd Year 120,000 670,000
4th Year 150,000 580,000
5th Year 200,000 760,000
8.3 LTV/ COCA Ratio:
The ratio of Loan to Value and the Cost of Consumer Acquisition is an essential factor of
any business industry that directly implies that how much burden the consumer handling could
be for the chosen organisation (Pruthi & Wright, 2019). In this case, the biomedical organisation
name Siemens has to gauge their existing investment strategy in the new market through the ratio
of LTV and COCA.
Short Term LTV COCA 55.55 LTV/COCA (approx)
55.55% 8.3 8.3 6:1
Medium Term LTV COCA 84.61 LTV/COCA (approx)
84.61% 80 80 1:1
Long Term LTV COCA 63.15 LTV/COCA (approx)
63.15% 30.3 30.3 3:1
According to ideal approximation of customer acquisition and promotional investment the most
suitable and balanced LTV/COCA ration is 3:1. However, the 1:1 ratio indicates that the
company is investing very high compared to its potential benefit. The projected LTV/COCA
ratio higher than 5:1 indicates that the investment in promotional and marketing activities is very
low. In this care, Siemens has the investment ratio of 6:1 in short term., which clearly indicates
that the company has to increase the investment. On the other hand 1:1 ratio in middle tem

26BIOMEDICAL INNOVATION & VENTURE CREATION
indicates that the planning is intangible as a medium term strategy (Singhal et al., 2016).
However, the long term estimation resulted the ratio of 3:1, which indicates the ideal balance
between investment and benefit.
9 DESIGN & BUILD
9.1 Key Assumptions:
Business, in most cases, occurs in an unsure setting and assumptions are necessary to
move ahead with stratagem. Documenting assumptions help in recognizing threats. The major
issue that Sidemen could face includes lack of efficient suppliers because of the poor production
chain of the Biomechanical manufacturing industry. Considering g the fact that the organization
required technologically advanced raw materials in order to manufacture high quality healthcare
equipments, it will be difficult for the management of Siemens to invest on efficient suppliers in
the nation. Apart from that, transportation as well as internet facilities would be another major
risk for the most of the Middle East region (Tashkandi & Al-Jabri, 2015). However, one of the
positive assumptions is the market reputation of the organisation and the potential demand across
the market. The lack of manufacturer and the global market penetration will help Siemens to
improve their market capturing strategy very easily.
9.2 Assumptions Tests:
For a new business to succeed, many assumptions have to prove true. Testing
assumptions in a logical order gives the team the best chance of making course corrections early
— and not wasting time and money. For their new market in Middle East and more specifically
in Saudi Arabia, Siemens Health Solution Biomedical and Biomechanical manufacturing and
supplier company needs to outline a method for (1) identifying the assumptions or unknowns and

27BIOMEDICAL INNOVATION & VENTURE CREATION
(2) resolving these assumptions on the basis of three parameters: severity, probability, and cost
of resolution (Ustuner, Thomas & Liu, 2016).
9.3 MVBP:
A Minimum Viable Business Product or MVBP is a product with just enough features to
satisfy initial target customers. It is also helpful to collect market feedback for future product
development. The benefit of this MVBP technique is it requires less monitory investment than
the arbitrary product development. Gathering insights from an MVP is will help to develop more
potentially attractive products for the target market. In this case Siemens has to chose the most
optimum products for the new market which will act as a MVP. After collecting feedback of the
market they can customise their future products according to the customer choice, their
purchasing behaviour and potential interests. Siemens should typically deploy their MVBP
product to a subset of possible customers—such as early adopters thought to be more forgiving,
more likely to give feedback, and able to grasp a product vision from an early prototype or
marketing information (Voigt et al., 2016). To track the feasibility and the potential market
feasibility of the products the company needs to consider the market demand, cost and potential
risk of manufacturing. For MVBP testing Siemens Health Solution has the following products to
offer:
 Advanced Imaging
 Angiography
 MRI
 Sliding Gantry CT
 X-Ray Machines
 Automation and Advanced Robotics

28BIOMEDICAL INNOVATION & VENTURE CREATION
 Blood Gas Systems
 Integrated Chemistry and Immunoassay Systems
 Dedicated Cardiac System
 Stratus CS 200 Acute Care Diagnostic System
 DCA Vantage Analyzer
 Data Management System
 Hematology Systems
 Digital Morphology Systems
9.4 Tracking Metrics:
Tracking matrix of the products will help Siemens company to prioritise their product
planning as a major consideration for their manufacturing and marketing operation. The major
positive influencers or attributes are Return on Investment, Demand. On the other hand, the
major negative or inverse attributes are the cost of the production and the potential risk of failure.
Criteria Weighting 2 -0.5 2 1 -0.5 Relative
Benefit
Priority
Relative measures
Business Components
Relative
ROI
Relative
Cost
Relative
Demand
Relative
Time
Relative
Risk
Advanced Imaging 5 2 2 4 3
15.5
1
Angiography 2 3 1 2 4
4.5
11
MRI 3 2 3 2 1
12.5
5
Sliding Gantry CT 4 2 1 3 4
10
7
X-Ray Machines 2 3 4 2 3
11
6
Automation and Advanced
Robotics
3 4 1 2 3
6.5
10
Blood Gas Systems 4 1 3 2 2 14.5 2

29BIOMEDICAL INNOVATION & VENTURE CREATION
Integrated Chemistry and
Immunoassay Systems
2 3 2 4 2
9.5
8
Dedicated Cardiac System 3 2 4 2 1
14.5
2
Stratus CS 200 Acute Care
Diagnostic System
2 3 2 4 2
9.5
8
DCA Vantage Analyzer 3 2 1 2 1
8.5
9
Data Management System 3 1 4 2 3
14
3
Hematology Systems 2 1 3 4 2
12.5
5
Digital Morphology
Systems
4 2 3 1 2
13
4
Therefore as per the product and priority matrix the top 5 priorities are
1. Advanced Imaging
2. Blood Gas Systems
3. Dedicated Cardiac System
4. Data Management System
5. Digital Morphology Systems
10 SCALING

30BIOMEDICAL INNOVATION & VENTURE CREATION
10.1 Product Plan for Beachhead Market:
Because of the high quality services as well as products manufactured by the company,
Siemens got highly recognized in the medical industry. Currently, the organization is one of the
most recognized manufacturers in the global biomedical equipments manufacturing industry.
However, their product selection for the market for Saudi Arabia should also be very strategic
and beneficial (Welter et al., 2017). Therefore, the production plan of Siemens for the medical
market of Saudi Arabia is presented below
Initial Product Medium term product Long term product
 Advanced Imaging
 Blood Gas Systems
 Dedicated Cardiac System
 Data Management System
 Digital Morphology
Systems
 MRI
 Hematology Systems
 X-Ray Machines
 Sliding Gantry CT
 Integrated Chemistry and
Immunoassay Systems
 Stratus CS 200 Acute Care
Diagnostic System
 DCA Vantage Analyzer
 Automation and Advanced
Robotics
 Angiography
10.2 Next Market:
The choice of the next phase market is totally based on the compatibility between the
product and the resources available along with the newer market itself. The market is supposed
to help the organization to achieve its goals along with assisting the sae to advance from its
infancy to other markets. After presenting the products successfully in Saudi Arabia, the
company should take the market extended to the other developed as well as developing countries
in Middle East like UAE, Oman, Egypt, Lebanon and others (Woolhandler & Himmelstein,
2017). Considering the fact that the healthcare equipment manufacturing industry of the western
world is becoming saturated due to excessive competition between the competitors, the current

31BIOMEDICAL INNOVATION & VENTURE CREATION
beachhead market of the organization includes Saudi Arabia. The healthcare organizations of
total Middle East are developing and the government of the nation is trying to enhance the
efficiency of the healthcare home through implementation of modern healthcare equipments.
Thus, the mentioned market across the Middle East possesses the potential to farther
enhancement of the profitability of the organization largely.
10.3 Product Plan Beyond Beachhead Market:
The product plan for beyond the market of Saudi Arabia the focus of this organization name
Siemens should be the peripheral healthcare service users. Considering the fact that the qualities
of the healthcare equipments offered by the organization to the consumers are higher compared
to its competitors especially in Middle East, the healthcare homes using the equipments
manufactured by the Siemens Healthier company are largely found across this West Asian region
(Zahra, 2015). When it comes to products, the organization manufactures healthcare equipment
that is required to focus on their secondary production systems that includes
 MRI
 Hematology Systems
 X-Ray Machines
 Sliding Gantry CT
 Integrated Chemistry and Immunoassay Systems
 Stratus CS 200 Acute Care Diagnostic System
 DCA Vantage Analyzer

32BIOMEDICAL INNOVATION & VENTURE CREATION
10.4 Follow-on TAM:
The follow onTotal addressable market refers to a term that is typically used for
referencing the revenue opportunity available for a product as well as service for the next phase
of the market expansion. Follow on TAM can help Siemens Health Solution to assess its
business opportunities by serving as a quick metric of the underlying potential of a given
opportunity. According to researchers, due to increasing healthcare issues in majority of the
developed as well as developing countries in Middle East, it is expected that by the year 2020,
the total addressable market of the healthcare device manufacturing industry will be highest
among the Eastern Globe (Zahra & Wright, 2016). Apart from that, the domestic medical device
industry of these Middle East Countries is small, with a disproportionate reliance on imports and
a complex regulatory environment. The market is expected to have a expanded growth by 20
percent, which will be significantly higher compared to the global industry growth.
11 VENTURE FORMATION
11.1 Stakeholders:
Stakeholders of an organization are defined as the individuals who impact as well as
impacted by the organization. Seimen is a biomedical company that involves in manufacturing
of the biomedical equipment in the areas of electrifications and automation and digitization.
therefore, the stakeholders are the directors, employees, government agents of the firm, the
supplier of the equipment, distributors, community from which it draws resources and hospital
administrators and facilities (Enteshari & Varshosaz, 2018).

33BIOMEDICAL INNOVATION & VENTURE CREATION
11.2 Define Roles & Responsibilities:
 The Roles of directors is to supervise the company and ensures the revenue through the
highest manufacturing
 Role if the employees are to involve themselves in the manufacturing of the biomedical
equipment in order to retain customers’ interest (Ilangovan, Mahanty & Sen, 2016).
 The role of the government's agents of the firm is to involve themselves in the legal issues
and advocacy that in turn assist the company to legally supply their products
 The Roles of a supplier is to supply the equipment to different distributors
 The role of the distributors is to distribute the manufactured product into different health
care brunches (Ilangovan, Mahanty & Sen, 2016).
 The role of the community from which it draws resources is to provide resources for
manufacturing product successfully.
 The role of hospital administrators and facilities is to use it in the different surgeries and
providing patient-centric care
11.3 Assign Roles & Responsibilities:
Role Responsibility
General Manager Supervising and managing all the departments while leading
the departmental superiors
Human Resource Recruiting and Managing workforce while keeping them
safe and healthy
Administrator Facilitating the premises with technology and fundamental
advancement
Logistics Manager Supervising and maintain Inbound, Outbound and
manufacturing chain
Finance and accounts executive Accounting payroll, measuring performance, publishing

34BIOMEDICAL INNOVATION & VENTURE CREATION
budget and estimating benefits
Sales and Marketing Manager Conducting market research, making customer relationship,
selling products, improving market share and reputation
Legal advisor Keeping legal compliance for all aspects of the business
operations
Employees Maintaining workflow with healthy relationship and
cooperating environment in order to improve the capability
of sustainable coordination
11.4 Engagements:
The Stakeholder engagement depends on the power and interest of the stakeholder. At the
same time, the power or influence on the organisational change as well as the interest also
depends on the pattern and involvement of the stakeholder.
Stakeholders Engagement Power Interest
Director/ owner Internal Primary Very High High
Management Internal Primary High Moderate
Suppliers External Secondary High Low
Employees Internal Primary Moderate Moderate
Customers External Primary Low High
Governments External Tertiary High Low
Community External Secondary Moderate Moderate

35BIOMEDICAL INNOVATION & VENTURE CREATION
11.5 Corporate Filings:
11.6 Formation Agreements:
A contract is a promise or set of promises that are legally enforced and if violated, it
allows the injured part to access the legal remedies. The agreement would be formed between
manager and community from whom they collect resources where price, terms and conditions
and rules and regulations would be mentioned (Gaynor, & Town, 2015). The similar kind of the
contract would be formed b formed between manager and employees. The second agreement
would be formed between supplier and distributors where the supplier would mention the price
of the manufactured product, terms and conditions. The third agreement would be formed
between Distributors and hospital administrations with the same elements.
12 CAPITALIZATION
12.1 Capital Need:
Current and Potential Assets
Initial Revenue 2,500,000
Account Receivable or Loan 17,500,000

36BIOMEDICAL INNOVATION & VENTURE CREATION
Investors contribution 30,000,000
TOTAL 50,000,000
Current and Potential Liabilities
Payable Accounts 20,000,000
Short term Borrowings 50,000
Additional Miscellaneous Liabilities 5,950,000
TOTAL 26,000,000
Working Capital 24,000,000
12.2 Use of Funds:
Operational components Unit Per Unit Cost Total expense
Manufacturing 12 35000 420000
Logistics and Transportation 5 18000 90000
Human Capital investment 60 5000 300000
IT and Communication 15 1500 22500
Research and Development 5 20000 100000
General and Administration 7 12000 84000
Marketing and Promotion 10 15000 150000
Miscellaneous expenditure 560000 560000
TOTAL 1726500

37BIOMEDICAL INNOVATION & VENTURE CREATION
12.3 Offering Type:
 Advanced Imaging
 Angiography
 MRI
 Sliding Gantry CT
 X-Ray Machines
 Automation and Advanced Robotics
 Blood Gas Systems
 Integrated Chemistry and Immunoassay Systems
 Dedicated Cardiac System
 Stratus CS 200 Acute Care Diagnostic System
 DCA Vantage Analyzer
 Data Management System
 Hematology Systems
12.4 Pre-Money Valuation:
A pre-money valuation is used to refer the valuation of a company or asset prior to an
investment or financing which is also widely used in private equity or venture capital industries.
In simple explanation, Pre- money valuation is a value of sharing the investment before starting
any business operation. If an investment increases the initial revenue or investment capability of
any company, the source of those additional investments also have their own valuation.
Value Percent
Entrepreneur 3,000,000 66.66%
Investors 1,500,000 33.33%

38BIOMEDICAL INNOVATION & VENTURE CREATION
Total 4,500,000 100%
12.5 Post-Money Valuation:
Post-money valuation is used to express the values the different shares of generated
revenue after an investment has been made. However the summation of total post money
valuation should be equal to the sum of the pre-money valuation and the amount of new equity
(Zhou, Greenspan & Shen, 2017). In next round of financial investment this valuation regulates
the distribution of values. After the investment these value is non –negotiable.
Value Percent
Entrepreneur 2,500,000 62.5%
Investors 1,500,000 37.5%
Total 4,000,000 100%
12.6 Investor Profile:
Persona in Marketing is defined as an imaginative profile of the Ideal consumer of an
organization. Considering the fact that the Siemens Healthineers conduct Business to business
deal, in the following table, where a persona of Mr. M, the operational director of ABC
organization has been conducted.
12.7 Investor Persona:
Background
 Operational Director of the ABC NGO
organization
Demographics
 Female
 Age: 30-45 years

39BIOMEDICAL INNOVATION & VENTURE CREATION
 Working at the ABC organization for
more than 10 years
 Dual HH income: N/A
 Suburban
Roles
 To manage the organizational issues
associated with donation
 To conduct venture sharing
 To analyse the market in order to
understand both internal as well as
external environment.
Goals
 To select suitable suppliers for the
ABC healthcare home.
 Enhance the CSR of the company.
 Enhance the partner’s loyalty.
12.8 Ten Investors:
The chief 10 organizations of the Siemens Healthineers are as follows:
1. Suppliers
2. Business Partners
3. Non-Government organizations
4. Trusty boards
5. Medical research institutes
6. Rehabilitation centers
7. Vet nary health care homes
8. Distributing Networks
9. Sports organization

40BIOMEDICAL INNOVATION & VENTURE CREATION
10. Paramedics

41BIOMEDICAL INNOVATION & VENTURE CREATION
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