The press release is a bit contradictory. It says the reason things are so complex is because of a profit motive, but also the reason that they will succeed where others did not is because they are working for a profit. Also, they are going to trim all the bells and whistles but they are not going to be strictly functional.

All that being said I do think this venture is fitting into an emerging niche in the market place due to the low cost of designing/re-designing devices. Things like 3-D printers for prototyping, etc. means that the cost to develop a medical device does not require the profit margin of a high-end medical device in order to get back costs.