Work History

IMPLEO MEDICAL – St. Paul, MN Nov 2015 - Present
President and CEO
Medical device startup developing a minimally invasive therapy for treatment of GastroEsophageal Reflux Disease (GERD)
  • Within 12 months of forming a company, closed an angel financing round on the terms favorable to current and new investors.
  • Negotiated transfer of IP, licensing and manufacturing agreements critical to company’s success.
  • Through personal network recruited the best talent to work on the company’s key objectives while preserving cash. The company is on track with its milestones and within the budget.
  • Designed the clinical trial, selected and developed relationships with top-notch clinical sites, prepared the clinical protocol, submitted IDE to FDA, led all interactions with FDA which le to IDE approval.
ELSTAD MEDICAL - Minneapolis, MN 2008 - Present
President and Owner
Management consulting firm providing business development, strategy and marketing consulting for medical device companies, including generating substantial interest with VCs and angels.
  • Strategized and negotiated the sale of a product line to a strategic acquirer. Advised management team on key critical elements of the deal which led to successful closing in 2014. Became a trusted advisor to the CEO on managerial issues.
  • Defined competitive advantages and targeted segments enabling the company to secure "next round" funding for a successful European launch vs. a heavily advertised competitor.
  • Analyzed market potential, competitive environment, clinical and regulatory path, reimbursement and exit opportunities, and developed a marketing plan for new therapy adoption. Led market research efforts for multiple geographies defining company’s long and short-term action plan. Attracted new distributors and negotiated distribution agreements securing more favorable terms and growing the top line.
    • CARBON MEDICAL TECHNOLOGIES – St. Paul, MN 2013 - 2015
    Acting Executive VP, Corporate Development
    Medical device company selling, marketing, and manufacturing products for incontinence and radiation oncology.
    FUNCTIONAL NEUROMODULATION - Charlottesville, VA 2013 - 2015
    Acting Executive VP, Corporate Development and Marketing
    Medical device company developing a new therapy for Alzheimer’s disease.

INTELECT MEDICAL - Minneapolis, MN 2010 - 2011
VP of Business Development
Medical device startup with technology to improve life for patients with Parkinson's disease, essential tremor and dystonia. Led the company through a successful exit strategy within 12 months.
  • 117% increase in an acquisition offer achieved by properly positioning the company throughout negotiations with a key investor, surpassing even the company's internal expectations by more than 100%.
  • Achieved $78 million sale of the company to Boston Scientific by demonstrating the strategic investment value, as well as ideal fit.
  • Consistently exceeded objectives and benchmarks, ultimately becoming a trusted advisor to the CEO on critical business and career matters.
  • Persuaded the only three market players with a potential for acquisition that the company's technology would impact market share by more than 40%, leading to multiple bids from each of the three market players.
  • Eliminated potential red flags in acquisition materials by leading preparation and review of all due diligence materials.
NDI MEDICAL - Minneapolis, MN 2008 - 2010
VP of Business Development
Medical device incubator with a track record of successful exits focusing on Neuromodulation technologies. Reviewed the state of the company and led capital acquisition initiatives.
  • Successfully established two new businesses through detailed analysis and evaluation of 40+ emerging opportunities and developing the strategy and business plans behind both endeavors.
  • $5 million in angel financing raised during difficult investment climate by effectively, consistently, and directly communicating company’s strategy to high net-worth individuals referred by the CEO and Board of Directors.
  • Acquired at minimal cost an exclusive license agreement critical for the company's Intellectual Property positioning, leading to improvement in multiple agreements.
  • Developed market penetration plan for a new therapy, effectively resolving all initial concerns from investors.
  • Created strategy behind a new business opportunity, including persuading management to allocate necessary resources for implementation.
MEDTRONIC - Minneapolis, MN 2003 - 2008
Strategic Business Development Manager (2006 - 2008)
Fortune 500 medical device company with 30,000+ employees and more than $16 billion in revenue. Evaluated all investment opportunities within selected markets.
  • Completed successful $42 million acquisition, enabling the company to maintain its leadership position.
  • $250 million loss averted by preventing an overpriced acquisition through leading all due diligence and researching the true valuation of the company.
  • Personally evaluated and executed investment decisions on three public small-cap companies, six clinical trial-stage startups, and eight preclinical stage ventures, receiving 100% approval on recommendations.
  • Successfully negotiated complex deal terms resulting in deal execution within all established timelines and budget.

Leadership Program Associate (2004 – 2006)
Developed, organized, and led strategic initiatives within the Cardiac Rhythm Management and Neuromodulation sectors.
  • Coordinated the strategic planning behind a $1.8 billion business unit that secured Board approval and delivered 15% annual growth.
  • Identified and overcame market barriers for a $1 billion therapy, including developing guidelines for country managers that enabled double-digit growth in Europe.
  • Eliminated functional silos by establishing and leading a cross-functional executive Portfolio Management Board to stop market share decline and shorten new-product introduction cycles.
  • Led the multifunctional team to design growth strategy for a new business and drive global revenue from $40 million to $500 million within seven years.
McKINSEY & COMPANY – Moscow, Russia 2000 – 2002
Business Analyst
Top-tier management consulting firm. Advised clients’ senior management on critical strategic and management issues.
  • 30% annual growth achieved by developing new business strategy.
  • Prevented strike of 3,000 employees through conflict resolution techniques and mediating negotiations among management, employees, and trade unions.
ARTHUR ANDERSEN – Moscow, Russia 1997 – 2000
Senior Auditor
Top multinational accounting firm. Performed auditing and due diligence services for client companies.
  • Led audits, assessed risk in highly unstable environment, and presented recommendations on risk management to CEOs and CFOs.