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 through an IPO and then later solid it to ev3 for close to $800M. He also founded CV Ingenuity and sold it to Covidien for approximately $300M. Now, similar to Jack Dorsey, Duke is leading 2 early stage companies at the same time – Spirox and Advanced Cardiac Therapeutics.
In this interview with Duke Rohlen, CEO of both Spirox and Advanced Cardiac Therapeutics, we learn about the strategies and tactics he employed that led to the successful exits of FoxHollow Technologies and CV Ingenuity for a combined total of over $1 billion.
Interview Highlights with Duke Rohlen
- Why Duke and the CV Ingenuity team felt bittersweet after selling to Covidien for $300M.
- Why the CV Ingenuity team pursued a US-only strategy.
- Why CV Ingenuity managed their clinical trials internally vs. working with an outside CRO.
- Duke’s previous relationships with the leadership at ev3 (now Medtronic) and why they were critical to closing the CV Ingenuity deal with Covidien.
- How Duke secured a unique $300M collaboration with Merck while serving as President of Fox Hollow Technologies.
- The major lessons Duke has learned raising money for 4 different medical device companies.
- How Duke is able to successfully lead two early stage medtech companies at the same time.
- Duke’s favorite book, the CEO he’s closely following right now, and the advice he’d give to his 30-yr. old self.
This Is What You Can Do Next
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About Duke Rohlen
Duke Rohlen serves as Chairman and CEO of Spirox, Inc. and Chairman and CEO of Advanced Cardiac Therapeutics. Prior to these roles, Duke served as founder and CEO of CV Ingenuity where he raised $30.0 million of venture capital prior to selling the company to Covidien (now Medtronic) in 2013 for ~$300.0 million. Prior to CV Ingenuity, Duke served in a variety of roles at FoxHollow Technologies prior to being named President. Duke helped drive annual sales to ~$200.0 million, helped the company through an IPO, conceived of and structured a $300.0 million collaboration with Merck Pharmaceuticals, and ultimately led the sale of the company to EV3 (now Medtronic) for $780.0 million in 2008. Prior to working at FoxHollow, Duke held senior management positions at two other medical technology companies and served as an entrepreneur-in-residence at the private equity firm, Alta Partners.