In selected high value medical device segments, most notably cardiovascular and general surgery, the deal-making frenzy of the past couple of years has been driven by large companies trying to build broad technology platforms that provide customers with a wide range of therapeutic options, and small companies who have all but given up hopes of competing with the distribution clout implicit in such platforms. Unlikely to mount their own competitive assault, small companies see the big companies as valuable marketing partners and, in some cases, deep-pocketed acquirors. Big companies, for their part, see smaller players as technology incubators that supplement, in some cases even supplant their own product development efforts.
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