2025-09-08T12:12:08-05:00 2024-12-31 410746749 CLIFTONLARSONALLEN LLP 220 S 6TH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2024-01-01 461465348 THE MEDICAL DEVICE INNOVATION CONSORTIUM MEDI 2028681600 1655 FORT MYER DRIVE 12TH FLOOR ARLINGTON VA 22209 ANDREW FISH PRESIDENT AND CEO 2028681600 2025-09-04 1 1 ANN NEIL P01817922 6123764500 2025-09-04 2024 2025-03-06 01:10:19Z ANDREW FISH 1655 FORT MYER DRIVE 12TH FLOOR ARLINGTON VA 22209 28171331 0 X WWW.MDIC.ORG X 2012 MN MDIC'S MISSION IS TO LEVERAGE ITS UNIQUE POSITION AS THE ONLY PUBLIC-PRIVATE PARTNERSHIP OF ITS KIND TO TRANSFORM HEALTH CARE INTO HUMAN CARE. COLLABORATING WITH OUR PARTNERS TO ADVANCE SCIENCE, WE ENABLE TRANSFORMATIONAL MEDICAL TECHNOLOGY TO SHAPE THE WORLD WE WANT TO LIVE IN AND MAKE THAT WORLD POSSIBLE BY SHORTENING THE PATH FROM INNOVATION TO SAFETY TO ACCESS. 22 22 52 27 0 0 9899161 22684960 4974275 5459148 26276 27223 0 0 14899712 28171331 0 0 0 0 8422774 10822363 0 0 0 7217162 17325081 15639936 28147444 -740224 23887 11871420 11814781 9779022 9698496 2092398 2116285 X BREAK DOWN BARRIERS IN THE MEDICAL TECHNOLOGY LIFE CYCLE TO ACCELERATE INNOVATION AND ADOPTION OF SAFE, EFFECTIVE AND HIGH-QUALITY MEDICAL TECHNOLOGIES. 0 0 15109411 0 223000 NATIONAL EVALUATION SYSTEM FOR HEALTH TECHNOLOGY COORDINATING CENTER:THE NATIONAL EVALUATION SYSTEM FOR HEALTH TECHNOLOGY (NEST) IS AN INITIATIVE OF MDIC WHICH SERVES AS A CATALYST IN ESTABLISHING FUNCTIONAL AND EFFICIENT PATHWAYS FOR KEY STAKEHOLDERS TO GENERATE LOWER-COST, NEARER REAL-TIME REAL-WORLD EVIDENCE (RWE) OF SUFFICIENT QUALITY FOR REGULATORY, COVERAGE, PATIENT, AND CLINICAL DECISION-MAKING. BY SOLVING THE CHALLENGES THAT HAVE SLOWED MEDICAL DEVICE INNOVATION, DELAYED THE DETECTION OF SAFETY SIGNALS, AND CREATED INEFFICIENCIES, NESTCC COULD IMPROVE PATIENTS' TIMELY ACCESS TO SAFE MEDICAL DEVICES AND THEIR QUALITY OF LIFE. 6521269 0 5059412 SCIENCE AND TECHNOLOGY:SCIENCE AND TECHNOLOGY'S FOCUS INVOLVES DEVELOPING TOOLS AND METHODS TO ENHANCE EFFICIENCY (IN TERMS OF TIME AND RESOURCES), QUALITY, DESIGN, MANUFACTURING, AND A PREDICTABLE PATHWAY IN DATA COLLECTION AND EVIDENCE DEVELOPMENT. THE ORGANIZATION'S CLINICAL SCIENCE PROGRAM AIMS TO IMPROVE DIAGNOSTIC TESTING AND PRODUCT DEVELOPMENT BY SUPPORTING MANUFACTURERS IN OBTAINING CREDIBLE CLINICAL EVIDENCE PATIENT PREFERENCES AND FACILITATING FIRST-IN-WORLD PATIENT ACCESS TO SAFE AND EFFECTIVE NEW TECHNOLOGIES OF SIGNIFICANT HEALTH IMPORTANCE. 744488 0 0 HEALTH ECONOMICS AND PATIENT VALUE:MDIC'S VALUE-BASED HEALTHCARE PROJECTS ARE DEVELOPED TO IMPROVE THE INDUSTRY'S ABILITY TO REAL WORLD EVIDENCE AND INCLUDE PATIENT PERSPECTIVES IN THE DEVELOPMENT, PRE-MARKET APPROVAL, AND POST-MARKET EVALUATION OF MEDICAL DEVICES AND SUPPORT A MORE PREDICTABLE PATHWAY IN REIMBURSEMENT DECISIONS UNDER FEDERAL HEALTHCARE PROGRAMS. 563698 0 176736 DEVELOPMENT AND MEMBERSHIP 563698 0 176736 22938866 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 50 0 1 52 1 0 0 0 0 0 0 0 0 0 0 0 0 X 22 22 0 0 0 0 1 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MN X TARIQ BAHICH 2028281600 1655 FORT MYER DR FL 12 ARLINGTON VA 22209 LUCILE BLAISE DIRECTOR 1.00 X 0 0 0 WES CETNAROWSKI DIRECTOR 1.00 X 0 0 0 ANDREW CLEELAND DIRECTOR 1.00 X 0 0 0 STEVE FERGUSON DIRECTOR 1.00 X 0 0 0 RICK GEOFFRION DIRECTOR 1.00 X 0 0 0 CHIP HANCE DIRECTOR 2.00 X 0 0 0 JIM HOLLINGSHEAD DIRECTOR 1.00 X 0 0 0 JIJO JAMES DIRECTOR 1.00 X 0 0 0 TAMARA SYREK JENSESN DIRECTOR 1.00 X 0 0 0 GARY JOHNSON DIRECTOR 1.00 X 0 0 0 KRIS KANDARPA DIRECTOR 1.00 X 0 0 0 ESTHER KROFAH DIRECTOR 1.00 X 0 0 0 TRANG LY DIRECTOR 1.00 X 0 0 0 LAURA MAURI DIRECTOR 1.00 X 0 0 0 JODY POWELL DIRECTOR 1.00 X 0 0 0 RANDY RUTTA DIRECTOR 1.00 X 0 0 0 PETER SALTONSTALL DIRECTOR 1.00 X 0 0 0 KEVIN SAYER DIRECTOR 1.00 X 0 0 0 JEFFREY SHUREN DIRECTOR 1.00 X 0 0 0 AMI SIMUNOVICH DIRECTOR 1.00 X 0 0 0 KENNETH STEIN DIRECTOR 1.00 X 0 0 0 NADIM YARED DIRECTOR 1.00 X 0 0 0 FISH ANDREW PRESIDENT & CEO 40.00 X 832122 0 82297 ONORATO KARA CHIEF FINANCIAL AND BUSINESS OFFICER 40.00 X 290747 0 38102 FAULCON LENWOOD CHIEF LEGAL OFFICER 40.00 X 283281 0 50538 MASON SIMON CHIEF ENTERPRISE OFFICER AND PRESIDENT OF NEST 40.00 X 538575 0 67597 SAPIENTE JOSEPH RAYMOND CHIEF SCIENCE AND INNOVATION OFFICER 40.00 X 326869 0 54702 SMITH RICHARD SENIOR VICE PRESIDENT, NESTCC 40.00 X 300081 0 52877 KOTLARZ HARRY HEAD OF PATIENT ENGAGEMENT AND EVIDENCE 40.00 X 259677 0 26146 HENRY LATARA VICE PRESIDENT, HUMAN CAPITAL 40.00 X 231361 0 36826 VICTORIA MATTHEW R VICE PRESIDENT, BRAND AND EXPERIENCE 40.00 X 201881 0 48955 MAEGLEY CORINNE VICE PRESIDENT, PARTNERSHIPS MANAGEMENT, NEST 40.00 X 219076 0 34907 VELICHAMTHOTU VEETIL JITHESH HEAD OF DIGITAL HEALTH TECHNOLOGY 40.00 X 218386 0 48822 SUMNER PAUL L HEAD OF MANUFACTURING, INNOVATION AND QUALITY 40.00 X 215537 0 38363 WEISS LISA SENIOR DIRECTOR OF EVALUATION & SURVEILLANCE 40.00 X 201336 0 26356 CULOTTA MARYELLEN CULOTTA HEAD, CENTER FOR MANUFACTURING INNOVATION 40.00 X 192861 0 48429 4311790 0 654917 32 0 1 0 MINTZ LEVIN COHN FERRIS ONE FINANCIAL CENTER BOSTON MA 02111 PROFESSIONAL & LEGAL CONSULTING 331805 CEROBS CONSULTING LLC 2612 LUMINA AVENUE N WRIGHTSVILLE BEACH NC 28480 CONSULTING SERVICES 293406 KLEIN HERSCH 220 GIBRALTAR RD SUITE 150 HORSHAM PA 19044 RECRUITMENT SERVICES 191053 TAMARA ROOK 2461 E LAKEVIEW DRIVE AURORA CO 80016 CONSULTING SERVICES FOR HEPV PROJECT 101212 4 3661249 18904711 119000 22684960 CONTRACT REVENUE 541900 5224220 5224220 MDIC MEETING 541900 234928 234928 5459148 27223 27223 28171331 5459148 0 27223 X 3471800 2598656 873144 5512968 3458767 2054201 359830 226865 132965 852063 557483 294580 625702 419834 205868 345437 336252 9185 44748 44748 7583011 7458329 124682 40054 3077 36977 119090 40498 78592 379397 189137 190260 626206 435675 190531 443293 355909 87384 1020004 400239 619765 172025 172025 13685 13685 PROJECT EXPENSES 6240030 6240030 RECRUITMENT COSTS 290788 218115 72673 7313 7313 28147444 22938866 5208578 0 300127 300127 3316745 2622260 1333651 2658700 262036 148483 1924848 443356 1643622 1481492 5015239 4603719 11871420 11814781 2422481 2772107 5000 0 7351541 6926389 9779022 9698496 X -829611 -261467 2922009 2377752 2092398 2116285 11871420 11814781 23887 0 X 0 1 X 1 1 1 X 21429766 16657002 10002314 9899161 22684960 80673203 1741 235825 1688525 4974275 5459148 12359514 21431507 16892827 11690839 14873436 28144108 93032717 895833 534750 1700000 700000 727500 4558083 4614619 4942507 9557126 895833 534750 1700000 5314619 5670007 14115209 78917508 9542 14543 12404 26276 27223 89988 9542 14543 12404 26276 27223 89988 6721 786 7507 21447770 16908156 11703243 14899712 28171331 93130212 0.84740 0.93640 0.00100 0.00150 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: MISCELLANEOUS REVENUE RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1730192 374511 1355681 194656 68845 125811 1481492 RIGHT OF USE ASSET 4603719 4603719 ROU ASSET LEASE LIABILITY 6926389 6926389 X 28171331 0 28171331 0 28171331 28147444 0 28147444 0 28147444 PART X, LINE 2: MANAGEMENT EVALUATED THE ORGANIZATION'S TAX POSITIONS AND CONCLUDED THAT THE ORGANIZATION HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS. X X 0 0 0 0 0 0 0 0 0 FISH ANDREW PRESIDENT & CEO 669500 0 162622 0 0 0 46563 0 35734 0 914419 0 0 0 MASON SIMON CHIEF ENTERPRISE OFFICER AND PRESIDE 463500 0 75075 0 0 0 32445 0 35152 0 606172 0 0 0 SAPIENTE JOSEPH RAYMOND CHIEF SCIENCE AND INNOVATION OFFICER 289840 0 37029 0 0 0 19585 0 35117 0 381571 0 0 0 SMITH RICHARD SENIOR VICE PRESIDENT, NESTCC 264000 0 36081 0 0 0 17160 0 35717 0 352958 0 0 0 FAULCON LENWOOD CHIEF LEGAL OFFICER 247200 0 36081 0 0 0 14832 0 35706 0 333819 0 0 0 ONORATO KARA CHIEF FINANCIAL AND BUSINESS OFFICER 253720 0 37027 0 0 0 15223 0 22879 0 328849 0 0 0 KOTLARZ HARRY HEAD OF PATIENT ENGAGEMENT AND EVIDE 226600 0 33077 0 0 0 13654 0 12492 0 285823 0 0 0 HENRY LATARA VICE PRESIDENT, HUMAN CAPITAL 201880 0 29481 0 0 0 14132 0 22694 0 268187 0 0 0 VELICHAMTHOTU VEETIL JITHESH HEAD OF DIGITAL HEALTH TECHNOLOGY 208198 0 10188 0 0 0 13186 0 35636 0 267208 0 0 0 MAEGLEY CORINNE VICE PRESIDENT, PARTNERSHIPS MANAGEM 219000 0 76 0 0 0 15330 0 19577 0 253983 0 0 0 SUMNER PAUL L HEAD OF MANUFACTURING, INNOVATION AN 205485 0 10052 0 0 0 14384 0 23979 0 253900 0 0 0 VICTORIA MATTHEW R VICE PRESIDENT, BRAND AND EXPERIENCE 190550 0 11331 0 0 0 13338 0 35617 0 250836 0 0 0 CULOTTA MARYELLEN CULOTTA HEAD, CENTER FOR MANUFACTURING INNOV 183855 0 9006 0 0 0 12870 0 35559 0 241290 0 0 0 WEISS LISA SENIOR DIRECTOR OF EVALUATION & SURV 201250 0 86 0 0 0 14088 0 12268 0 227692 0 0 0 FORM 990, PART VI, SECTION A, LINE 1A EXECUTIVE COMMITTEE. THE BOARD MAY DESIGNATE AN EXECUTIVE COMMITTEE COMPRISED OF THE PRESIDENT AND SUCH OTHER PERSONS AS MAY BE APPOINTED BY THE BOARD, PROVIDED THAT NO MORE THAN SEVENTY-FIVE PERCENT (75%) OF THE MEMBERS OF THE EXECUTIVE COMMITTEE MAY REPRESENT FOR-PROFIT MEMBERS OF THE MDIC. THE EXECUTIVE COMMITTEE SHALL HAVE AND MAY EXERCISE ALL OF THE AUTHORITY AND POWERS OF THE BOARD IN THE MANAGEMENT OF THE BUSINESS OF THE MDIC IN THE INTERVAL BETWEEN MEETINGS OF THE BOARD, EXCEPT THAT THE EXECUTIVE COMMITTEE SHALL NOT HAVE THE AUTHORITY AND POWER TO CREATE ADDITIONAL DIRECTOR POSITIONS, ELECT OR REMOVE DIRECTORS, CREATE NEW OFFICER POSITIONS, ELECT OR REMOVE OFFICERS, AMEND THE ARTICLES OF INCORPORATION OR BYLAWS, ADOPT A PLAN OF MERGER OR CONSOLIDATION, AUTHORIZE THE SALE OR OTHER DISPOSITION OF ALL OR SUBSTANTIALLY ALL OF THE PROPERTY AND ASSETS OF THE MDIC, AUTHORIZE OR REVOKE A VOLUNTARY DISSOLUTION OF THE MDIC, TAKE ANY ACTION THAT REQUIRES A TWO-THIRDS AFFIRMATIVE VOTE OF THE DIRECTORS VOTING ON A MATTER UNDER THESE BYLAWS OR TAKE ANY OTHER ACTION THAT APPLICABLE LAW REQUIRES BE CONSIDERED BY THE FULL BOARD. THE DAY-TO-DAY OPERATIONS OF THE MDIC WILL BE MANAGED BY THE PRESIDENT WITH OVERSIGHT AND APPROVAL, AS NECESSARY, BY THE EXECUTIVE COMMITTEE. REPORTS OF EXECUTIVE COMMITTEE ACTIONS SHALL BE PROVIDED REGULARLY TO THE BOARD. THE EXECUTIVE COMMITTEE SHALL AT ALL TIMES BE SUBJECT TO THE CONTROL AND DIRECTION OF THE BOARD. FORM 990, PART VI, SECTION A, LINE 6 THE MDIC HAS MEMBER ORGANIZATIONS WITH NO VOTING RIGHTS. FORM 990, PART VI, SECTION B, LINE 11B FINANCE DEPARTMENT INITIATES THE PROCESS OF THE 990, WITH THE LEGAL DEPARTMENT AND THE FINANCE COMMITTEE PROVIDING REVIEW BEFORE REPORTING TO THE FULL BOARD. FORM 990, PART VI, SECTION B, LINE 12C EACH BOARD MEETING AGENDA INCLUDES A STANDING ITEM REQUESTING UPDATES ON POTENTIAL CONFLICTS OF INTEREST. OFFICERS, DIRECTORS, AND KEY EMPLOYEES ARE REQUIRED TO DISCLOSE POTENTIAL CONFLICTS OF INTEREST AS THEY ARISE. THE BOARD REVIEWS AND APPROVES ALL TRANSACTIONS THAT HAVE A POTENTIAL CONFLICT OF INTEREST. NO DIRECTOR OF THE MEDICAL DEVICE INNOVATION CONSORTIUM SHALL VOTE ON ANY MATTER IN WHICH HE OR SHE, OR HIS OR HER EMPLOYER, HAS A MATERIAL INTEREST OR FINANCIAL INTEREST THAT WILL BE AFFECTED BY THE OUTCOME OF THE VOTE. ALL PROCEEDINGS RELATED TO CONFLICTS OF INTEREST ARE DOCUMENTED IN THE MEETING MINUTES. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF KEY EMPLOYEES IS REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE AND RECORDED IN THE EXECUTIVE COMMITTEE MINUTES OR OTHER COMMITTEE DOCUMENTS. A REVIEW, INCLUDING COMPENSATION REPORTS AND OPINIONS FROM RECRUITING CONSULTANTS, OCCURRED IN 2024. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. FORM 990, PART IX, LINE 11G CONSULTING AND CONTRACT LABOR: PROGRAM SERVICE EXPENSES 7,458,329. MANAGEMENT AND GENERAL EXPENSES 124,682. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 7,583,011.