From Chaos to Order

From a humble beginning, simply observing doctors perform intricate image-guided procedures, to leading cutting-edge technological advancements in the vascular space, Sean Morris is a problem-solver with a genuine passion for improving lives.

Starting off selling medical devices for a budding company, AngioDynamics, Sean was inspired by doctors working in interventional radiology. However, his interest didn't just stop at observing. 

As the company grew, so did Sean's responsibilities. From medical device sales and sales management covering seven states, he moved up the ranks in the company through various roles, including product development, sales training, and marketing. Eventually, he became the Global Vice President of Marketing, overseeing three divisions.

“It wasn't merely a ladder of positions; it was a transformation fueled by learning, trial, and error. I learned a lot, got my face kicked in reading marketing books, old school stuff. It was like death by a thousand cuts," he reflects on his growth. He eventually found himself promoted to running the Peripheral Vascular Division, reporting to the board and CEO.

Behind this ascent, Eamonn Hobbs, the founder of AngioDynamics, was a guiding light. Sean sees Hobbs as his biggest mentor to this day, crediting Hobbs’ belief in him as a key driver of his success. Hobbs' trust was not just in words but also in deeds, always putting Sean in positions that challenged him to grow and take on more responsibility.

Sean's personal journey also played a crucial role in his career transitions. A promise to his wife to return to St. Louis after three years led to him moving on from AngioDynamics in 2009. This shift gave birth to ventures like Veniti, which was acquired by Boston Scientific in 2018.

As a passionate innovator whose heart is in creating pragmatic, mechanical solutions for clinical problems, Sean’s work with Amplifi now particularly stands out. The company, while still in its pre-clinical phase, promises a groundbreaking method to dilate veins for dialysis patients.

The preferred access for such patients is an arteriovenous (AV) fistula, linking a vein and artery. A larger initial vein diameter greatly improves AV fistula success, enhancing hemodialysis. Drawing inspiration from a Left Ventricular Assist Device (LVAD), Amplifi’s innovative solution uses an extracorporeal blood pump, mimicking a dialysis machine, to rapidly dilate the forearm's vein in days, offering physicians a stronger site and higher AV fistula success.

Key Learnings From Sean’s Experience

• The responsibility in a startup ultimately rests on the CEO’s shoulders — nothing is going to get done unless you do it. While this may seem daunting, embracing simplicity can be strategic to effectively tackle unpredictability. On top of that, seeking guidance from mentors and not being afraid to ask for help are important virtues for growth.
• Placing human-centric design, clinical data, empathy, and personal relations at the center of a venture is the key to providing true value to end-users.
• Engage potential acquirers and investors early on — not necessarily to sell or raise funds immediately but to understand if your startup's vision aligns with their long-term goals. Early feedback helps refine your pitch for the future.

Embracing the Challenges of a Medtech Startup CEO

Being a CEO, especially in the early stages of a startup, isn't about glamorous moments in the spotlight. You’ll need to make tough calls and endure unexpected challenges while trying to consistently make the best decisions for your company. The role requires a deep commitment along with constant vigilance.

In Sean’s words, “In a startup, as the CEO, you have got to do everything. You can't depend on anybody else to do your job for you”.

Sean continues, “It's very easy to read a story around some overnight success. But if you're afraid to roll up your sleeves, do a lot of dirty work, and get into the weeds, and if you have an ego around not being willing to do certain aspects of a role, it's not usually going to work out.”

However, this isn’t to say you should do it alone. On the contrary, surrounding yourself with a skillful and supportive team is crucial. Sean shares, “You want to align with good people, and you want to have really good supportive investors. The smart money; not just the capital but the people that want you to be successful too.”

Still, at the end of the day, the primary responsibility rests with the CEO, and this role requires that you approach every aspect of the business hands-on, be it regulatory, clinical, R&D, marketing, or Key Opinion Leaders (KOL) engagements.

Sean advocates for a streamlined approach — "Don't hire a bunch of people to the extent it's possible. Find like-minded people, maybe some advisors that are not full-time employees." In line with this, one particular analogy Sean shared is golden: “In a startup, you’ll feel like you're trying to fix the car while you're driving it down the road.”

Lastly, amidst all the responsibilities and under the weight of decision-making, Sean underscores the importance of seeking guidance and mentorship. According to Sean, the best mentor is someone who is supportive without being judgmental; someone who can provide insights without dismissing your questions. His candid advice is simple: "Talk to enough people to find your ideal mentor." 

Effective Communication Will Carry You Forward

According to Sean, a CEO plays a dual role — understanding the intricacies of the business and communicating these complexities in easily digestible terms.

He advises not to overwhelm others with complicated terminology or technical jargon. Instead, adopt clarity and simplicity. Focus on making key points stand out and emphasize what needs to be accomplished. He stresses: "Spoon feed your comms in a way so your words are almost like bold letters. Like they’re a little bit larger so it’s clear what you’re trying to accomplish."

Effective communication isn't just about relaying information. It's about acknowledging mutual goals and creating a dialogue. Sean emphasizes the importance of recognizing that both parties, whether it's the company or the FDA, are working toward public safety and well-being. 

That’s why empathy stands out as a crucial skill for a CEO, especially in startups, enabling you to understand others' needs, concerns, and aspirations. You need to read the room to ensure the message is heard while fostering trust and building lasting relationships at the same time.

But apart from empathy, empirical evidence also helps to crystalize your mission, milestones, and progress. Sean emphasizes that the most valuable thing you can deliver is clinical data on humans, whether it’s a safety study or a pivotal study. “Few things will create external value as much as human data does,” he says. Such tangible data can play a significant role in drawing the attention of potential investors as well as your key clinical and regulatory stakeholders.

The Importance of Establishing Early Dialogue

It's vital to initiate conversations with potential acquirers and investors early on, not necessarily for sales or raising funds, but to get an understanding of whether there's a mutual vision alignment between the parties. Such interactions can provide invaluable feedback, refining a startup's pitch to woo future potential partners.

Sean's perspective is rooted in real-world experience. He reflects on his days at Veniti, which was later acquired by Boston Scientific: "I like to get strategics on our radar sooner rather than later. And I'm not in there in a desperate way saying, ‘Oh my gosh, are you going to buy us?’ Instead, it's, “Hey, here's what we're working on. I want to see if it's aligned with your vision of the future."

Building such relationships is mutually nurturing in the long run. For instance, Sean has managed to get large strategic companies like Boston Scientific and Philips to invest in startups he was associated with. On that note, he also emphasizes the importance of building trust and communicating regular updates. Engaging with large multinationals isn't just about securing funds; it presents an opportunity for establishing serious credibility.

Fundraising, a closely linked concept, is another area where being proactive sets you apart. Sean advocates for an "always be capitalizing" mindset, a variation of the classic "always be closing" sales mantra. In his words: "Often, the best time to raise money is when you don't need it.”