From an Idea on the Back of a Napkin to an Eventual $240 Million Exit: The Amazing Story of Sapheon

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 the post-acquisition activities), the more enamored I became with their story. Great idea. Huge market. Really solid execution by people like Don Crawford, Dr. Rod Raabe, Gary McCord, and Monte Madsen. To this day, I still think it’s one of the more unheralded examples of success within medtech.

In this interview with Don Crawford, current President of Analytics 4 Life and former CEO of Sapheon, we learn how they went from an idea on the back of a napkin to a $240 million exit through unconventional financing, disciplined compliance, and much more.

Interview Highlights with Don Crawford

• How Don and his team at Sapheon celebrated after officially closing the deal with Covidien.

• How the Sapheon team went from an initial idea on the back of a napkin to an eventual multi-million dollar exit.

• Don’s methodology for evaluating startup medical device ideas.

• The unique story of how Sapheon was funded almost completely by private, angel investors.

• How Sapheon’s disciplined compliance led to regulatory efficiencies.

• The offshore clinical trial work that allowed Sapheon to expedite their regulatory approvals.

• The lessons Don learned at Sapheon and how they’re translating to his new company, Analytics 4 Life.

• The CEO that Don follows, as well as the advice that he would give his 30-year old self.