Caring for Tomorrow: Advancing ESG in Med-Tech Industry
magAssist, established in 2017, is one of China’s dominant medical device companies. With the ultimate goal of delivering an innovative suite of life-support systems in emergency scenarios, magAssist entered the heart failure prevention market with its introduction of Maglev artificial heart technology. In addition, their Organ Care System (OCS) automates crucial medical processes including the preservation, assessment, and transportation of organs for transplantation. The U-Corp@magAssist (ESG) team explored the emerging topic of environmental, social, and governance (ESG) with magAssist, delving into the future direction of ESG sustainable development. The team members extensively researched ESG strategies implemented by large companies in the industry, as well as successful ESG practices from other sectors. They referred to the latest national policy guidelines for the healthcare technology industry and gathered insights into the considerations and actions taken by the company both internally and externally through various means such as online interactions and offline interviews. Ultimately, based on the three dimensions of ESG, the team proposed novel perspectives such as sustainable supply chain assessment and enhancing corporate social responsibility, along with corresponding short and long-term strategies.
Members:
Shen Shen (Leaders, Class of 2025)
Shengyang Wang (Class of 2026)
Jas Santos (Class of 2024)
Yufei Li (Class of 2024)