What MedTech Gets Right in Latin America When It Acts Locally

In this episode of the then-named LATAM MedTech Leaders podcast, Julio Martinez-Clark speaks with Steve Garchow, then President of Foresight Business Consulting, about what it actually takes to commercialize medical products in Latin America. The conversation is worth hearing in full at the episode page, but one theme stands out: success in the region is rarely about copying a U.S. playbook.

Garchow draws on his experience in global marketing roles, including work at Baxter Healthcare, to show how product strategy, pricing, and local execution have to fit the realities of each market. His examples are practical, and they still feel current because they focus less on tactics and more on operating discipline.

Start with the care setting, not just the clinical need

One of the clearest insights from the conversation is that market opportunity begins with how care is delivered. Garchow describes a renal business that promoted peritoneal dialysis into countries where building out hemodialysis infrastructure was harder. As he put it, "Our peritoneal dialysis products, which was our focus, was a home based therapy."

That detail matters. Hemodialysis depends on physical facilities, water, machines, and the capital required to support them. A home-based therapy changes the equation. In other words, the product fit was not only clinical. It was structural.

For founders and commercial leaders, this is a useful way to think about Latin America. Demand is not simply a function of disease prevalence or physician interest. It is also shaped by hospital capacity, care pathways, and the resources required to use a product at scale. A company may have a strong product and still struggle if the local delivery model makes adoption difficult.

Garchow’s example also pushes against a common oversimplification. Latin America is not one market with one access problem. The relevant question is whether a therapy fits the constraints and capabilities of a specific country and care setting.

Global teams should build the playbook, not run the field

Garchow is consistent on one point: global teams have an important role, but they should not pretend to know every local nuance. He describes a model in which the global group developed the overall marketing plan, clarified the most important features and benefits, and supported training. Local organizations then handled field execution, translation, cultural adaptation, and market-specific business decisions.

His summary is direct: "our philosophy was think globally but act locally … you have to push decision making as close to the customer as you can."

That is more than a slogan. In his account, local teams were the ones who understood how to navigate country-specific realities, whether that meant sales execution, payer discussions, or adapting collateral so that imagery and messaging were culturally appropriate. He also notes that the Latin American organization was structurally distinct, with country staff reporting into the regional group rather than the global business unit.

This matters because many commercialization mistakes start with the wrong decision model. A centralized team may produce strong materials and sound product training, yet still slow a business down if it tries to control decisions that belong in-country. Garchow’s view is that global teams add value by sharpening the offer and equipping local teams, not by replacing them.

Pricing discipline matters as much as market enthusiasm

Garchow also gives a practical lesson on pricing. He says, "we tried to be flexible on pricing," and then explains what that meant in practice. For certain renal products, his team would recommend pricing a new product at a percentage premium over a country’s existing base product, rather than trying to impose a U.S. price across markets.

That approach did two things. First, it preserved the logic of the product line inside each market. Second, it gave local teams room to stay competitive within their own pricing environment. It was a way to maintain strategic consistency without ignoring affordability.

He is equally clear that this kind of flexibility has limits. It worked in part because the business had enough margin to support it. Capital equipment can be different. His infusion pump example shows why. Sending refurbished high-end pumps into Latin America could serve some hospitals, but it did not solve the need for a lower-cost option in the broader market. As he explained, "The challenge was trying to identify a product that met Baxter's quality standards, that we could sell at that price point."

That is a durable lesson for device companies. If the target price in a market sits too close to your cost structure, commercial effort alone will not fix the problem. You may need a different product configuration, a different manufacturing strategy, or a local partner that can help bridge the gap while still meeting quality expectations.

Even with universal biology, local listening still matters

Garchow makes an honest admission late in the conversation. In renal therapy, his teams often worked from the view that clinical biology was consistent across markets. That gave them confidence in the core therapy proposition. But he also says they probably did not survey Latin American customers enough while preparing global plans.

That self-critique is important. Even when the disease state is the same everywhere, physician preferences, training needs, procurement logic, and adoption barriers are not. Clinical truth does not eliminate commercial variation.

He ends on a broader point about growth. Latin America, in his view, is too important to ignore. He also suggests that increasing Spanish fluency and cultural familiarity in the U.S. could make more young professionals interested in building businesses in the region. Whether or not that trend plays out exactly as he predicted, the strategic conclusion is clear: companies that treat Latin America as an afterthought will likely miss real opportunities.

Listen to the full episode

For the full conversation with Steve Garchow and Julio Martinez-Clark, visit the episode page. It is a useful listen for anyone building a MedTech commercialization model that has to work across borders without losing local fit.

About Global Trial Accelerators™

Global Trial Accelerators™ is the podcast for MedTech, Biopharma and Radiopharma founders navigating first-in-human clinical trials. It is hosted by Jesús E. Moreno and produced by bioaccess®, a CRO purpose-built for first-in-human trials across the Americas.