Consumer-Facing Medtech

Dr. David Albert is not just your average doctor — he's also a scientist, inventor, and serial entrepreneur who has gone viral on YouTube. He once quipped, "Plan B is MD," and took the leap from medicine to start a company. He is the man behind AliveCor, a pioneer in the field of personal electrocardiograms (ECGs). 

In the late 1980s, after completing medical and engineering graduate school at Duke University, Dr. Albert found himself back at the University of Oklahoma. Being a young innovator, he had already licensed a few inventions. But when he couldn't find any takers for his new cardiovascular device, he took a chance at it himself. "That was the dumbest idea I ever had," he jokingly says. However, his mentors thought otherwise, reassuring him that if things went awry, he could always return to medicine. Thankfully, he’s never needed that backup plan. 

Fast forward to today, Dr. Albert is the founder of AliveCor, known for its Kardia brand, which has set the gold standard in personal cardiovascular solutions. One product that's making waves is the KardiaMobile Card, a device the size of a credit card that fits right into your wallet. 

In the beginning, Kardia was a smartphone case add-on that transformed the devices into personal ECG machines. But now, the product line has expanded to feature three key devices: KardiaMobile, KardiaMobile 6L, and KardiaMobile Card. 

AliveCor is making waves not just with its hardware but also with the comprehensive ecosystem surrounding it. "We're not just a hardware vendor. We're a solution vendor, and we're a personal cardiovascular solution vendor," Dr. Albert notes. All the KardiaMobile devices are backed by services like expert reviews of ECG readings, advanced algorithms that analyze the data, and detailed reports to track the patient’s heart health. Not to mention, the company has established powerful partnerships with giants like Omron and GE Healthcare to integrate their technology with existing healthcare workflows seamlessly.

Key Learnings From Dr. Albert’s Experience

• The transition from academia to entrepreneurship may not be seamless. You need to be realistic, utilize resources to your favor, have the right mindset to continuously learn lessons, and know how to cultivate strategic partnerships.

• The lines between medical devices and consumer marketing are not as rigid as you might think. By bringing in the right expertise, being agile, and focusing on consumer awareness and branding, you can forge a new path that is both medically sound and consumer-friendly.

• When it comes to fundraising, understand the fundamentals of valuation and don’t get fixated on high numbers. Leverage a network of allies who can help you make the right connections and include tangible prototypes and demonstrations in your pitches.