Pretty good I would have thought. Unlike medicine you do not actually need any particular set of qualifications and training (or indeed any at all!) to practice as an engineer. Your big challenge is to persuade a company to give you your first job, but in this you are no worse off than most engineering graduates - and in fact much better off than most in that you do have experience beyond an engineering degree.
Although it's not my area, I would have thought companies in the biomed enginering field would be glad to have you, with both the engineering and application knowledge you will have. Best thing to do is just start applying, scour the job websites for roughly the right jobs (don't worry if you don't meet all the criteria), and don't be embarrassed about applying "cold" to any companies you know of that work in the field.
Do be prepared for lots of rejections and lots of "no response"s - it won't be personal. All newly qualified engineers find this, it is the challenge of finding the right person to be the right fit in the right company. If you can achieve a ratio better than 100 applications : 10 responses : 1 request for interview you will be doing pretty well!
If you are an IET member you can be put in touch with an IET Mentor who may well be able to advise you how to word your application and how to make the right approach.
Andy Millar CEng MIET CMgr MCMIhttp://www.linkedin.com/in/millarandy
"The aim of argument, or of discussion, should not be victory, but progress." Joseph Joubert