A medical device company focused on the development of diagnostic tools for early detection of diseases, including portable imaging devices.
Challenge:
The company aimed to create more accurate, cost-effective diagnostic devices to make healthcare more accessible. They were also focused on improving the portability and ease-of-use of their devices.
R&D Activities
Prototype Development:
They developed prototypes for portable diagnostic imaging devices that integrated advanced sensors and miniaturized components.
Software Development:
The company worked on designing specialized software for the medical devices that would improve image clarity and analysis.
Testing & Calibration:
The firm engaged in extensive testing to calibrate the diagnostic tools for various environments and medical conditions.
Eligibility for R&D Tax Credit:
The company could claim the R&D Tax Credit on the development costs of their prototypes, including the labor for engineering and software development. Materials testing, clinical trials, and regulatory process expenses could also be included.
Result:
The company leveraged the tax credit to fund further research and development, accelerating the launch of a more affordable, user-friendly diagnostic device for medical professionals.
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