A feasibility study would boil down to: 

- Economic gain vs expense of the medical device (Business case). I would have field data on what completive devices would sell for and how much profit this type of device will bring my company. I would also gather data from the customer to see what their budget for a device for the hospital. 

- Competitive Advantage of the Product. I would see what the need is in the market for the medical device for a hospital and if it will bring competitive advantage to the company. I would also have information if the product is also filling a gap in the portfolio or if it is a totally new technology that could be the next step in the companies future. 

- Engineering Analysis. I would have a tiger team come together to see if the medical device can be made and what is needed. What is the human capital required for the company and where on the priority list the device for the hospital would be for the company? This would be the litmus test for the project where if the group decides the technology is beneficial, but not feasible, then the project shouldn't be pursued although the business case may be good. 

- Project Capital. I would see what projects are being led currently and if there are resources for a project of the scale needed for the hospital. If the company is already working at 100%, there may be a reason to delay the project until the project can be fully resourced without overworking the employees. 

Most feasibility studies will follow these main areas that should be focused upon before the project is launched and executed upon.