Medsider Radio: Learn from Medical Device and Medtech Thought Leaders: Recent Episodes
Scott Nelson
The goal of Medsider is simple: Help ambitious doers learn from experienced medical device and medtech thought leaders through uncut and unedited interviews.
On this episode of Medsider Radio, our guest is Travis Sessions, the Founder and Chief Executive Officer of Biomerics, a leading mid-market interventional device contract manufacturer. He's also a Managing Partner of Med Venture Holdings, a unique medtech growth equity investor. With over 20 years of business management experience, Travis has successfully built and grown multiple medical device technology companies during his career. He got his start professionally at Dow Chemical and has held management positions at Microsoft and Parker Hannifin Corporation. Travis has a B.S. in Chemical Engineering from Brigham Young University and a Master’s in Business Administration from the University of Michigan.
Interview Highlights with Travis Sessions:
- Macro trends within the medtech market, including Travis’ thoughts on the future.
- Key differences between contract manufacturers (CMs) and large original equipment manufacturers (OEMs).
- Critical things that OEMs should look for when identifying and working with CMs.
- The origin story of Med Venture Holdings.
- What Travis looks for when vetting early-stage medtech ideas.
- Critical functions that need to be in place for a medical device startup to be acquired.
- Travis’ favorite book, the mentor he most admires, and the advice he’d give to his 30-year-old self.
Learn more...
In this episode of Medsider Radio, our guest is Matthew Amsden, the Founder and CEO of ProofPilot, a platform designed to help people design, launch and participate in clinical trials.
ProofPilot’s mission statement revolves around making it incredibly easy to run scientifically-valid research studies. They’re dedicated to making research study participation accessible, interesting, and fun.
In this discussion with Matthew, we chatted about the importance and feasibility of virtual clinical trials, how they can potentially become a revenue driver, the origin story of ProofPilot, and why their hybrid model is so popular.
Interview Highlights with Matthew Amsden
- Who is Matthew Amsden and where did the idea for ProofPilot begin?
- The importance of letting early customers try product iterations.
- How clinical studies can become a revenue driver.
- Various types of clinical trials and how they’re conducted on the ProofPilot platform.
- Risky and costly approaches to traditional clinical studies.
- The synergy between data, compliance, and incentives.
- How a virtual, hybrid model can solve problems when it comes to traditional clinical trials.
- Matthew’s favorite business book, the mentor he most admires, and the advice he’d give to his 30-year-old-self.
See more...
Over the last 20 years, Dr. Tej Singh has served as the Founder and Chief of Vascular Surgery for three large, multidisciplinary vascular programs in Silicon Valley. He has vast experience with renal failure and vascular access procedures, and is acutely focused on his first company, Fist Assist Devices. Dr. Singh’s company is developing the first renal care wearable device for venous enlargement and dialysis enhancement.
In this episode, Dr. Singh and I talk about the primary challenge thatFist Assist Devices is trying to solve, the origin story for their first product, his approach to mapping out clinical trial strategies, and much more.
Interview Highlights with Dr. Tej Singh
- Who is Dr. Tej Singh and what is his background?
- What is Fist Assist Devices and what challenges are they trying to solve?
- The origin story for their first product and the critical inflection points for the company.
- How Dr. Singh evaluated the IP landscape for his first device.
- Dr. Singh’s approach to mapping out clinical trial strategies.
- How he navigated the insurance coverage and reimbursement landscape.
- His unique approach to strategic patience and why it’s crucial for medtech startups.
- Dr. Singh’s favorite book, the leader he most admires, and the advice he’d give to his 30-year-old self.
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I recently sat down with Katherine Ward, Chief Commercial Officer and managing director for Healthy.io. She has worked in healthcare for 28 years — including 15 years with the UK National Health Service and 11 years with United Health Group where she was the Chief Executive with United Health UK and Chief Growth Officer with Optimum International. In this conversation, we cover what Healthy.io does for the broader healthcare community, lessons from the COVID-19 crisis, clinical-grade population health technology, decentralized remote diagnostic screening, and how their technology works with existing health systems.
Interview Highlights with Katherine Ward
- Who is Katherine and what is her background?
- What is Healthy.io and what challenges or problems do they solve for patients and clinicians?
- Why the time finally come for decentralized remote diagnostic screening, using urine testing as an example.
- Lessons on the importance of virtual testing from the COVID-19 crisis.
- How Healthy.io has approached the regulatory and reimbursement landscapes, including their clinical trial strategy.
- How their population health technology works together (with and within) existing healthcare systems.
- Katherine’s favorite genre of books, the leader she most admires, and the advice she’d give to her younger self.
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In this episode of Medsider Radio, we downloaded with Jennifer Fried, the CEO and Co-Founder of ExplORer Surgical. Jennifer founded the company with Dr. Alex Langerman as an MBA student at the University of Chicago Booth School of Business, where she received her degree with honors in finance and entrepreneurship.
Previously, Jennifer was a Vice President at Park Lane Ventures, a healthcare-focused venture capital fund spun out of Essex Woodlands. Jennifer began her career as a consultant at Bain & Company in Chicago after graduating from Northwestern University.
With me on this episode is special guest host, Norbert Juist, who runs Sales Performance Resources, where he specializes in recruiting for medical device marketing and sales positions. Prior to this, he was a sales rep at Cordis Endovascular, a spine consultant at Synthes, and a sales rep at Ethicon.
Interview Highlights with Jennifer Fried
● How most medical device companies capture procedural data & workflow processes -- and why it’s completely outdated.
● The challenges medtech companies are facing when it comes to educational training & product development and why they’re considering platforms like ExplORer Surgical.
● Jennifer’s favorite business book, the business leader she most admires, and the advice she’d give to herself 5-10 years ago.
See more...
On this episode of Medsider Radio, I had the chance to sit down with Michael Tozzi, President and CEO of TAS Medical. Mike and his team are aiming to eliminate surgical mesh by converting hernia procedures to minimally invasive repairs.
Mike has over 20 years of commercial medical device experience and specializes in investor relations, sales & marketing readiness, and improving the execution of early-stage medical device companies..
Previous to TAS Medical, Mike served as Chief Commercial Officer at Carevoyance, where he and his team created groundbreaking analytics tools designed to help medical device companies better understand their markets and execute their commercial goals.
Prior to this, Mike helped to build Cardiovascular Systems, Inc. (or CSI) from the ground floor, taking the company from early stage to over $1.3 billion in market capitalization in just seven years. At CSI, Mike held various executive roles in sales and marketing.
Joining me on this episode is special guest host, Norbert Juist, who runs Sales Performance Resources, which specializes in recruiting for medtech marketing and sales positions. Prior to this, he was a sales rep at Cordis Endovascular, a spine consultant at Synthes, and a sales rep at Ethicon.
Interview Highlights with Mike Tozzi
- The origin story of TAS Medical and how Mike got involved.
- The strategies that TAS Medical followed to go from initial product concept to eventual commercialization.
- The regulatory and clinical paths that Mike and his team considered.
- How much the insurance coverage and reimbursement landscape factored into Mike’s early decision-making process.
- Mike’s approach to raising capital for CSI and TAS Medical.
- Common mistakes that early-stage medtech companies make and how to avoid them.
- Mike’s favorite book, the business leader he most admires, and the advice he’d give to his 30-year old self.
See more...
Joining Medsider Radio for this episode is Beverly Huss, President and CEO of Qool Therapeutics, a development-stage company working on a novel, non-invasive therapeutic hypothermia device for the preservation of tissue following catastrophic events like a heart attack, stroke, or traumatic brain injury.
Previously, Beverly was the CEO of Vibrynt, a start-up medical device company dedicated to creating minimally invasive therapies for patients suffering from morbid obesity. Prior to that, Beverly was the President of Guidant Endovascular Solutions (acquired by Abbott), a medical device company focused on the treatment of cardiovascular and peripheral vascular disease.
She holds an M.S. in technology management from Pepperdine University, as well as a B.S. in metallurgical engineering from the University of Illinois. Beverly also has a few patents to her credit in the cardiovascular and obesity medical device arenas.
With me on this episode is guest host, Norbert Juist, one of the most honest, genuine, and personable people I know. Norbert runs Sales Performance Resources, where he specializes in recruiting for medtech marketing and sales positions. Prior to this, he was a sales rep at Cordis Endovascular, a spine consultant at Synthes, and a sales rep at Ethicon.
Interview Highlights with Beverly Huss
- The origin story of Qool Therapeutics and how Beverly got involved with the company.
- The clinical trial strategy that Qool Therapeutics is following and the reasoning for it.
- Beverly’s strategic approach to making a medical device a reality, including the regulatory, clinical, and reimbursement paths that should be considered.
- Key learnings from Beverly’s time at Vibrynt.
- The “other R&R”: the importance of resilience and relentlessness when you are raising money for a company.
- How to get the attention of medical device venture capitalists.
- Critical lessons Beverly throughout her career at ACS and Guidant.
- Beverly’s favorite books and how they inspire resiliency.
- The business leaders and mentors that Beverly most admires.
- Advice Beverly would give to her 30-year old self.
See more...
I recently had the opportunity to interview Dan Rose, CEO of the French-based medtech company LimFlow. Founded in 2012, LimFlow transformed the peripheral vasculature space by providing a lifesaving option for end-stage critical limb-threatening ischemia (CLTI) patients facing amputation. LimFlow is designed to restore blood flow to the ischemic foot via deep vein arterialization, thereby preventing major amputation, resolving pain, and promoting wound healing.
Prior to assuming the role of CEO at LimFlow in August 2016, Dan had more than 16 years of leadership experience in the medical device and venture capital/startup sectors. Most recently, he was VP and General Manager EMEA for Direct Flow Medical, and VP of Commercial Operations and a Member of the Board at Sequana Medical, a Swiss medical device company.
Norbert Juist, an executive recruiter who specializes in medical device sales and marketing, also joined me for this interview with Dan Rose. Norbert brings a unique perspective to this discussion, having worked as a sales rep and consultant in medtech for nearly 20 years prior to transitioning to executive recruiting.
Here are a few of the topics we discuss in this episode:
- How LimFlow used a concept that’s been in existence since 1912 and transformed it into a modern therapy that multidisciplinary clinicians can reproduce.
- How Med Start played an instrumental role in the launch and ultimate success of LimFlow.
- Why it’s essential to find a physician champion willing to invest time and energy in your tech.
- Overcoming the challenges presented by an ever-evolving MDR landscape, both in the EU and US.
- Key factors you can’t ignore if you want to succeed as a first-time CEO.
- Why investing in independent market research is well worth the cost.
- Why the FDA Breakthrough Devices Program has been a game changer in the US.
See more...
After a brief hiatus from recording podcasts, it was a privilege to dust off the microphone and interview Kyle Frye. As U.S. president of SyntheticMR, Kyle is tasked with growing and expanding the brand and business in the U.S. for the Swedish-based company that is creating the future of quantitative MRI technology. Their innovative MRI software solutions support shorter exam times and deliver more information to clinicians, leading to improved diagnostic efficacies.
Prior to assuming this role in August 2019, Kyle was a Zone Vice President of Sales for Siemens, and also was in leadership positions at both niche and large medtech companies including Blue Belt Technologies (now Smith & Nephew), Verathon, and Brainlab. He also worked for BioMedix for three years, working his way up from a sales rep driving 4–5 hours a day to Western Area Sales Director, which required relocation from metro Cincinnati to the San Francisco Bay area. Kyle received a B.A. degree in political science and finance from Northern Kentucky University in 2004.
Norbert Juist, an executive recruiter who specializes in medical device sales and marketing, joined me as a special guest for this interview with Kyle. He brings a unique perspective to this discussion, having worked as a sales rep and consultant in pharma and medtech for nearly 20 years prior to transitioning to recruiting.
Here are a few of the key topics we discussed in this podcast:
- Why a competitive spirit and winning are important, but not the “be-all and end-all” to medical device success.
- Why communicating “the why” of career moves is key to landing new opportunities.
- How being flexible and willing to relocate can help advance your career, especially in the medtech space.
- The pros and cons of working for large vs. small companies.
- Kyle’s favorite business books, the importance of having a mentor, and the advice he would tell his 25-year-old self.
Check out the rest of the show notes here...
A few years ago, I had the privilege of sitting down and talking with serial medtech entrepreneur Paul Buckman, who at the time, was CEO of Conventus Orthopedics.
Prior to Conventus, Paul held CEO roles at SentreHEART, Pathway Medical Technologies (which sold to Bayer HealthCare), and Devax (which sold to Biosensors International). From 2004 through 2006, Buckman served as President of the Cardiology Division of St. Jude Medical.
Before joining St. Jude, he served as Chairman and CEO of ev3, a company that Buckman co-founded and was later acquired by Covidien for $2.5 billion dollars in 2010.
Paul has worked in the medical device industry for over 35 years, including 10 years at Scimed Life Systems and Boston Scientific where he held several executive positions before becoming President of the Cardiology Division at Boston Scientific in January of 2000. Buckman received a BA degree in business administration and an MBA degree from Western Michigan University.
Here are a few of the things we’re going to learn in this interview with Paul:
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Of all the medtech startups that Paul’s been a part of, the two that are closest to his heart.
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Two of the many key learnings that Paul recalls during his time helping to build Scimed.
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When it comes to product development for medtech startups, why it’s critical to be ruthless about prioritization.
See more...
In late 2016, I was able to sit down with Kevin Sidow. At the time he was President & Chief Executive Officer for Moximed, and had been since 2008.
Prior to his time at Moximed, Kevin was President & CEO for St. Francis Medical Technologies, a privately held, venture-funded company focused on developing innovative treatments for patients suffering from degenerative spinal disorders. In January 2007, St. Francis Medical Technologies was sold for $725 million to Kyphon, which was acquired by Medtronic later that same year.
Previously, Kevin was the Worldwide President of DePuy, where he supervised the global orthopedic, spine, trauma, and sports medicine businesses, with annual revenue responsibility of over $3 billion dollars. Kevin holds a B.S. in Accounting from West Virginia University.
Here are a few of the things we learned from Kevin:
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How Kevin felt when Moximed’s first patient was treated with the Atlas System after 8+ years of research and development.
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What makes the Atlas System different than other orthopedic knee implants.
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How medtech professionals looking to take the next step in their career can utilize Kevin’s advice and learn from his meteoric rise to Worldwide President of DePuy.
See more...
In this two-part interview, I was lucky enough to sit down with Erica Rogers, CEO of Silk Road Medical. We first spoke a few years ago and then again much more recently to catch up on what had changed at Silk Road since our first conversation.
During our catch up, we discussed how Erica led her team at Silk Road through PMA approval, successful insurance coverage and reimbursement strategy, which led to a very rewarding public offering for Silk Road, opening at $20 a share. This resulted in the opportunity to continue the company’s goal, which is to change the standard of care in carotid artery disease with their TCAR procedure.
Much of our first conversation was about Erica’s career trajectory and how she was able to successfully, and gracefully, exit multiple medtech companies. Her lengthy career and insight as a medtech thought leader is just as interesting today as it was when we recorded our conversation.
Before leading Silk Road, Erica was the COO of Medicines360, a nonprofit pharmaceutical company developing drugs and devices for women. Erica was the founder and CEO of Allux Medical as well as the cofounder of Visiogen, which was acquired by Abbott Medical Optics in 2009.
Prior to that, Erica spent over 12 years at Boston Scientific in a variety of sales and marketing positions. She began her career in pharmaceutical sales after receiving a B.S. in Zoology from San Diego State University. Erica holds five issued and 15 pending US patents for medical devices in nanotechnology.
See more...
Daniel Hawkins is the President and CEO of Shockwave Medical. He began his career in marketing and business development roles for Advanced Cardiovascular Systems, otherwise known as ACS, which is now part of Abbott Vascular. Following ACS, he held senior roles in general management, marketing, and business development with a number of private and public...[read more]
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Eric Stone cofounded Velano Vascular with Dr. Pitou Devgon, an internal medicine physician. Velano’s first device, PIVO, enables needle-free blood draws directly from peripheral IV catheters. Velano Vascular is backed by a series of well-respected investment firms, leading U.S. health systems, and dozens of health industry veterans. Before starting Velano Vascular, Stone most recently served...[read more]
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Michael Branagan-Harris is the CEO of Device Access UK and has been involved in the marketing of medical devices to the National Health Service (NHS) for the last 27 years. Products he’s commercialized range from simple wound dressings to the introduction of the Lap Band for obesity, endovascular graft repair, endo laparoscopic surgery, and the...[read more]
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Bruce Shook joined Intact Vascular in 2014 as President and CEO. A highly-experienced, medical device executive with more than 30 years of industry experience, Bruce was previously Co-founder, Director, President, and CEO of Neuronetics, which is a privately held medical device company that markets a non-invasive brain stimulation technology for the treatment of depression. Previously...[read more]
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Dr. Bob Smouse has over 20 years of experience in interventional radiology, endovascular surgery and clinical research. In addition to acting as CEO and CMO of BrightWater Medical and teaching at the University of Illinois College of Medicine, he provides interventional medical services to local hospitals through Central Illinois Radiology Associates. Dr. Smouse is a...[read more]
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More than a decade ago, AUM Cardiovascular founder Dr. Marie Johnson was a doctoral student when tragedy struck her and her family. Her husband, Rob, passed away suddenly at the age of 41. He had blockages in his coronary arteries including a ruptured plaque in the left anterior descending artery supplying a large part of...[read more]
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Shaun Bagai is the CEO of RenovoRx. He has over 16 years of medtech experience across multiple functional areas like clinical research, sales, marketing, and market development. He was instrumental in developing the European market for renal denervation, which led to the acquisition of the first renal denervation company, Ardian, by Medtronic in 2011. Most...[read more]
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Bill Facteau joined Earlens Corporation as Chairman, President, and CEO in November of 2013. Most recently, he was the Vice Chairman of ExploraMed, a medical device incubator based on the West Coast and an Entrepreneur in Residence at New Enterprise Associates. Previously, Bill was at Johnson & Johnson from early 2010 through early 2012 as...[read more]
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Dr. John Simpson. Even if you’re a medical device newbie, you’ve probably heard of him. He’s credited with inventing and commercializing the first over-the-wire balloon catheter used for percutaneous transluminal coronary angioplasty (PTCA). This single idea created the field of interventional cardiology as we know it today. Over the course of his renowned medtech career...[read more]
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Biz Stone, the co-founder of Twitter, has famously stated, “Timing, perseverance, and 10 years of trying will eventually make you look like an overnight success.” In the world of medtech startups, this is almost always the case. And it’s certainly true with UroLift, a device that came to life in the fall of 2004...[read more]
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Engaging with patients in a genuine and transparent way is tough. Really tough. It’s challenging for all healthcare stakeholders – payers, providers, and industry. From a medtech perspective, we often times get stuck in a certain mindset when trying to engage with patients. Whether it’s a continuous glucose monitor for diabetic patients or a new...[read more]
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CMS has an objective to shift 50% of all reimbursement services from fee-for-service to alternative, value-based methods by 2018. And bundled payment models, according to Dr. Dan Mazanec, will be the principal driver of this transformative initiative. But the topic of value-based healthcare can be pretty confusing , right? Comprehensive Care for Joint Replacement. Medicare Access...[read more]
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For as long as I can remember, at every company meeting I’ve ever been to, the topic of off-label promotion is always covered. Whether it was new-hire orientation, a national sales meeting, or some other large commercial event, the dissemination of off-label information was always presented as not only a fireable offense, but something that could get you...[read more]
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Jack Dorsey received quite a bit of attention when he was recently announced as CEO of Twitter. Why? Because that made him CEO of 2 of the most rapidly-growing tech. companies in Silicon Valley at the same – Twitter and Square. Well, medtech’s version of Jack Dorsey might be Duke Rohlen. Duke led FoxHollow Technologies...[read more]
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I’ll be candid. This is an interview I’ve wanted to do for quite some time. During my time at Covidien, I considered myself fortunate to be involved with the acquisition of Sapheon, a startup company that manufactured a disruptive therapy for venous reflux. The more I learned about Sapheon through the diligence process (as well as...[read more]
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When most people think of the wearables space, devices like the Fitbit or the Apple Watch come to mind. But over the past few years, there’s been a lot of development with respect to wearable devices that were designed for the traditional healthcare market. Medtronic launched the SEEQ device. Although implantable, St. Jude commercialized the...[read more]
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Because of diminishing margins, a lot of major medical device companies continue to add products to their sales bag in hopes of meeting top-line revenue goals. But selling the entire bag is challenging. When the bag gets too big, a typical sales force will usually focus only on products that generate the most revenue. So what...[read more]
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Henry Ford is famous for stating, “If I had asked people what they wanted, I would have built a faster horse.” Although it’s arguable whether he ever uttered those words, the statement is still very powerful. And it’s one that Hugh Narciso has taken to heart. In fact, in the early days of BAROnova, when...[read more]
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Sean Moore went from medical device sales rep to VP of Sales for one of the largest medtech companies in less than 10 years. Pretty impressive, right? Just like me, you might be thinking, “How did he do it? Killer sales results year after year? Right place at the right time?” In this interview with...[read more]
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It’s safe to say that IDNs are important customers for the overwhelming majority of medical device companies. Therefore, it’s probably rational to assume that medtech companies do a good job of tracking the changing IDN landscape, right? Wrong. Based on the 2014 ZS Associates Commercial Operations Benchmark Study, only 56% of medtech companies track IDN...[read more]
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According to a recent L.E.K. survey of hospital executives, 56% of the respondents haven taken steps to reduce medical device sales rep access to their facilities. In fact, the CEO of an Illinois hospital stated, “We’re constantly trying to limit the sales reps…We want to see what they’re selling before they get a hold of...[read more]
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Information overload is an issue that all of us face. Finding a decent signal in the midst of a very noisy world is a difficult challenge. Few are able to master it on a consistent basis. And that includes doctors. Check out some of these stats: 100,000 scientific journals are now in circulation. 30,000 new...[read more]
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What do Stryker, Biomet, Medtronic, and Boston Scientific all have in common? Yes, they all manufacture medical devices. But more specifically, all four of these medtech companies have implantable device divisions. And from 2005 – 2011, the implantable device segment has been the most consistent top performer relative to other categories including: in vitro diagnostics...[read more]
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Warren Buffet is often quoted as stating, “The best time to be greedy is when others are fearful.” But can this same concept apply to the medtech space? Can limited partners (the investors in a venture fund) be sold on the idea of bankrolling early stage medical device companies? In this interview with Mike Carusi...[read more]
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How will healthcare reform affect care delivery and reimbursement? And what will the impact be for medical device companies? These are probably the 2 biggest questions that medtech companies need to answer in order to succeed in the future. Unfortunately, there aren’t solid answers at this point. But there are some people that can help...[read more]
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Picture this. You’re a medical device sales rep covering a procedure in one part of your territory. But unexpectedly, you get a call from a physician needing case support on the other side of your geography. What do you do? There’s no way you can cover the case, right? The drive-time won’t allow you to...[read more]
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The lean startup movement has become increasingly popular within the tech community after the release of Eric Ries’ book in 2011. Although I personally believe the lean startup methodology is brilliant, some aspects are difficult to apply to the medtech space. For example, it costs significantly less money to iterate on a software idea in...[read more]
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The 2.3% medical device tax is burdensome. Regulatory timelines are long (and expensive). Reimbursement is not only decreasing, but also incredibly hard to obtain. Venture capitalists are losing interest in early stage medical device deals. Is it all downhill for medtech? There is no doubt the current healthcare environment is challenging. But certainly not impossible...[read more]
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Did you know the FDA recently issued a multi-million dollar contract to a private company that will be charged with monitoring social media? Yes, multi-million. Needless to say, that’s a significant amount of money. Although many would argue the FDA has not been very clear regarding its guidance towards social media, you can’t deny that...[read more]
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