Tag: Medical Devices

Talent Implications for 12 Trends in MedTech

Post author By Jenny Crutchlow
Post date November 5, 2024
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by John Groover

The MedTech industry is at the forefront of a technological revolution, driven by innovations that will advance healthcare delivery and patient outcomes. For companies building their senior leadership teams, understanding these trends and their talent implications is crucial for staying competitive and fostering growth.

P4 Technology

P4 technology (Predictive, Preventive, Personalized, and Participatory) represents a revolutionary approach in the MedTech industry. This paradigm shift focuses on predicting health issues before they arise, preventing diseases through proactive measures, personalizing treatments to individual profiles, and encouraging patient participation in their own healthcare. By leveraging advanced data analytics, genomics, 3D printing, and patient engagement tools, P4 technology aims to improve health outcomes and reduce healthcare costs.

Wearables, Biometrics, and Remote Monitoring

The rise of wearable devices and remote monitoring technologies is empowering patients to manage their health proactively. This trend is driving the need for executives who can oversee the development and implementation of these technologies, ensuring they are user-friendly and secure.

Machine Learning and Artificial Intelligence

AI and machine learning are revolutionizing MedTech by enabling predictive analytics, automated diagnostics, and personalized treatment plans. These technologies are enhancing the accuracy and efficiency of medical devices, creating a demand for leaders with expertise in AI integration and data science.

Augmented Reality and Virtual Reality

Augmented Reality (AR) and Virtual Reality (VR) are transforming the medical device industry by enhancing surgical precision, medical training, rehabilitation, pain management, and telemedicine. As these technologies continue to evolve, they hold the potential to significantly improve patient outcomes and change the way healthcare is delivered.

3D Printing

3D printing, also known as additive manufacturing, is revolutionizing the medical device industry by enabling the creation of highly customized and complex medical devices tailored to individual patient needs. This technology allows for rapid prototyping, reducing both the cost and time required to bring new devices to market.

Telemedicine

Telemedicine has become a cornerstone of modern healthcare, offering remote consultations and treatment options. Leaders with experience in telehealth platforms and digital health strategies are essential to navigate this rapidly growing sector.

Data Security

With the increasing digitization of healthcare, data security has become paramount. Executives with expertise in cybersecurity and data protection are vital to safeguard patient information and maintain trust in digital health solutions.

Health Equity

Addressing health disparities is a critical focus in our industry. Companies are seeking leaders who are committed to promoting health equity through inclusive product design and equitable access to healthcare technologies.

Supply Chain Resilience

The COVID-19 pandemic highlighted the importance of resilient supply chains. MedTech companies are investing in digitally enabled supply chains to enhance efficiency and adaptability. Leaders with experience in supply chain management and digital transformation are in high demand.

Sustainability

Sustainability is becoming a key consideration in MedTech. Companies are looking for leaders who can drive eco-friendly initiatives, from sustainable product design to green manufacturing processes.

Accelerated M&A

The MedTech industry is experiencing a surge in mergers and acquisitions as companies seek to expand their capabilities and market reach. Executives with experience in M&A and strategic growth are crucial to navigate this complex landscape.

Executive Compensation

In 2024, executive compensation in the MedTech industry is experiencing notable shifts, driven by a dynamic market environment and evolving performance priorities. According to recent surveys, total cash compensation for C-level executives has increased significantly. This trend is largely attributed to higher levels of incentive plan performance and the increasing complexity of the MedTech landscape. Additionally, the tight talent market, rising labor costs, and inflationary pressures are contributing to upward adjustments in executive pay. Companies are also placing greater emphasis on performance-based incentives to attract and retain top talent, ensuring that compensation packages are competitive and aligned with organizational goals.

What Kind of Leadership Will It Take?

The ideal executive for cutting-edge MedTech companies in 2025 is a visionary leader with a robust blend of technical expertise and strategic acumen. They possess a deep understanding of emerging technologies like AR/VR, AI, ML, and 3D printing, and are adept at integrating these innovations into healthcare solutions. Their experience spans digital health trends, including telemedicine and wearables, ensuring they can navigate and leverage these advancements effectively. They are committed to health equity and sustainability, championing initiatives that promote inclusive and eco-friendly practices. Additionally, they excel in managing supply chain resilience and data security, crucial for maintaining operational integrity. With a proven track record in accelerated M&A, they can strategically grow the company while designing competitive compensation packages to attract and retain top talent. Top leaders will combine innovation, strategic vision, and a dedication to improving patient outcomes, making them well-equipped to lead in such a fast-shifting landscape.

The future of MedTech is bright, with numerous opportunities for innovation and growth. However, navigating this evolving terrain requires a strategic approach to executive recruitment. By understanding the key trends and their talent implications companies can position themselves for success in this quickly changing industry. Partnering with the right retained executive search firm is crucial for identifying visionary leaders with the expertise and strategic acumen needed to lead in 2025 and beyond.

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Spotlight: Celebrating John Groover’s Leadership in Med Tech Recruiting

Post author By Jenny Crutchlow
Post date October 15, 2024
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Meet John Groover, long-time Partner and Leader at Strawn Arnold. John’s medical device career spans over four decades, providing an ideal foundation for his transition into executive retained search.

John began his medtech career in 1982 with Ethicon Endosurgery. “There were 25 of us in their first sales training class, all white, one woman,” John shares. “This one woman trainee ended up running all of Ethicon Endosurgery.” Indeed, John has made diversity a priority, identifying and recruiting the next up-and-coming diversity superstars in medtech. “One of my proudest achievements is placing perhaps the highest-ranking female executive in large cap medtech to be recruited from outside of the organization. We all talk about how important diversity is, but to make an impact with key diversity placements takes more than just talk.”

After five years at J&J, John spent equal time at GE Medical, Edwards Lifesciences, and Sulzer Carbomedics, where he served as President. In 2002, after the sale of Carbomedics, John considered two CEO offers but chose not to relocate his family. He joined Strawn Arnold in 2003 to start their medical device practice. Initially, he placed key executives at Medtronic, J&J, Boston Scientific, and Abbott, before focusing on the venture community. Over the past five years, John has placed dozens of C-level executives with smaller, mostly privately-held medtech entities, primarily as CEOs.

John credits his 20 years in industry leadership roles for his success in retained search. “To perform like a partner for clients, you need to have sat in their chair. Companies succeed or fail based on the successful outcome of the search. You need to take full ownership of that to be successful.”

We at Strawn Arnold celebrate John’s dedication, which has placed us at the forefront of medtech retained search for two decades.

Tags DEI, Diversity, Executive Search, Life Sciences, Medical Devices, MedTech, Recruiting, Talent Acquisition

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Celebrating 50 Years of Strawn Arnold

Post author By Jenny Crutchlow
Post date September 10, 2024
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Celebrating 50 years of excellence, Strawn Arnold has stood as a beacon of leadership in executive search within the life sciences and healthcare industries.

As we honor this milestone, we reflect on the words of our founder, Jerry Arnold: “Over the past 50 years, the central focus of the firm has been to identify outstanding people for our internal needs and those of our many clients. We’ve been successful on both counts. Over this period, our superb staff and partners have identified and placed thousands of exceptional leaders in hundreds of companies across our great country.

“We want to thank our many clients for putting their faith and confidence in us, and for allowing us to help you grow and prosper. We’re looking forward to the next 50 years with both anticipation and excitement. We hope you’ll allow us to be of continued service to your company. Outstanding people are the lifeblood of a growing and prosperous organization. It truly has been a great 50 years for the firm.”

Here’s to half a century of dedication and to the many more years of serving the life sciences industry ahead.

Tags Biotech, Executive Search, Generics, Healthcare, Innovation, Leadership, Life Sciences, Medical Devices, Pharmaceuticals, Recruiting

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Spotlight: Celebrating Jenny Crutchlow’s Unique Skills and Experience

Post author By Jenny Crutchlow
Post date May 24, 2024
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We’re thrilled to shine the spotlight on Jenny Crutchlow, Managing Partner, and member of our Executive Committee. Jenny joined our team in 2018 and focuses on the Medical Device and Pharma industries, working on Director, VP, and C-suite roles across functions.

Jenny hails from the great State of Texas and is an alumna of the University of Texas at Austin where she obtained dual degrees in Vocal Performance and the prestigious Plan II Honors liberal arts degree program and was honored with Phi Beta Kappa membership. She also holds a Master of Music degree in Vocal Performance and Pedagogy from Westminster Choir College in Princeton. After a professional performing career on stages in New York and across the United States, Jenny found her way to Executive Search, honing her recruiting skills at large retained search firms focused on the healthcare industry.

Reflecting on her journey, Jenny shares, “Transitioning to executive search from the performing arts has allowed me to leverage my diverse skills and experiences: tenacity, insight, empathy, creativity, process – to find and engage top talent for our clients and to help our candidates shape rewarding careers. I am grateful to our clients and candidates who trust me with their searches. It’s a responsibility I cherish.”

Outside of work, Jenny and her husband Ross enjoy immersing themselves in the arts and spending time with their three children and extended family in the Austin area.

Jenny’s unique blend of skills, experience, and passion makes her an invaluable asset to our team and clients. Join us in celebrating her exceptional contributions to Strawn Arnold!

Tags Biotech, Career Journey, Leadership, Medical Devices, Pharmaceuticals, Recruiting, Talent Acquisition, Team Spotlight

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Celebrating 50 Years of Strawn Arnold

Post author By Jenny Crutchlow
Post date May 21, 2024
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In a farmhouse in Austin, Texas, Bill Strawn joined Ken Houtz who had built a robust solo search practice after a storied career with Johnson & Johnson. When Ken retired, Bill sought to expand the firm and added Jerry Arnold to form Strawn Arnold. Over the next several years, biopharma executive David Leech was added to the Partnership, with a continued focus on high-level searches within the pharma sector.

In 1998, Jeff Ashpitz, a BioPharma/MedTech veteran was recruited to lead the emerging biopharma practice. David and Jeff’s addition cemented Strawn Arnold’s mission to provide exceptional retained search services with the expertise of former industry executives rather than a traditional leveraged model.

In 2003, the firm diversified beyond biopharma by adding medtech executive John Groover, who was President of Sulzer Carbomedics. Both Jeff and John went on to serve as Managing Director/President of the firm. Oliver Esman joined in 2007 to head the generic pharma practice, bringing strong CHRO-level industry experience to the firm.

Over the next decade, Strawn Arnold continued to grow with the addition of Chris Schneider (medtech, HIT, services), Mark Durham (biopharma), and Jeff Dodson (biopharma) to the partnership. Partners Barry Duke, Jenny Crutchlow, and Executive Vice President Jim Alexander also joined, all bringing significant industry experience. This expansion ensured Strawn Arnold offered partner-level recruiting expertise and comprehensive industry knowledge across life sciences and healthcare sectors.

Today, Strawn Arnold is recognized as one of the largest and most knowledgeable customer-centric retained search firms in the life sciences and healthcare market. Our Partners and EVPs tailor services to clients, maintaining a strong focus on partner-level results.

Tags 50th Anniversary, Biotech, Executive Search, Generics, Healthcare, Innovation, Leadership, Life Sciences, Medical Devices, Pharmaceuticals, Recruiting

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