Venture Capital

What it Takes to Get a Medtech VC to Say Yes: Interview with Lisa Suennen

Sequoia Capital, Thrive Capital, and Greylock Partners reportedly made a x2 ROI in just 2 weeks when Facebook acquired Instagram for $1 billion. Yes, x2 ROI in 2 weeks!

With that said, why in the hell are VC firms still interested in funding medtech companies when only 50% of all reported exits are less than $100 million and the average cost of obtaining a PMA is approximately $94 million? More importantly, what does it take for medical devices companies to get a “yes” for those VCs still interested in forking out some cash? Good questions, eh?

Enter Lisa Suennen, Co-founder and Managing Member of Psilos Group, a healthcare-focused venture capital firm with approximately $600 million under management. She also serves as a Director on the Board of several Psilos portfolio companies, including AngioScore (Chairman), PatientSafe Solutions, OmniGuide, and VeraLight (Chairman). Lisa holds an M.A. in political science, a B.A. in political science, and a B.A. in mass communications, all from the University of California, Berkeley. Lisa is also a visiting lecturer at the U.C. Berkeley Haas School of Business.

In this interview with Lisa Suennen, we learn how and why medical device companies will need to adjust and modify their business models in order to succeed in today’s healthcare environment.

Interview Highlights with Lisa Suennen

  • What does Lisa think when the goal of physicians is to “dagger historical price lists” and “think twice about using advanced technologies when older, cheaper versions are available”?
  • Why is healthcare the red-headed stepchild in the world of venture capital?
  • Key action items for early-stage medtech companies. Discussion points include: 1) economic vs clinical considerations; 2) true innovation vs incremental advances; and 3) early focus on reimbursement.
  • Why Lisa and her partners at the Psilos Group favor late-stage deals in our current economic environment.
  • What’s more important in the eyes of medtech VCs? Quality improvements vs cost reductions vs. reimbursement?
  • Corporate venture capital arms: friend or foe? Also, what does Lisa think about crowdfunding for medical device companies?
  • If you’re an early-stage medical device company, what is the best way to get the attention of Lisa Suennen and her partners at the Psilos Group?
  • Lisa’s lasting advice for ambitous medtech doers.

Listen to the Interview with Lisa Suennen

Read the Interview with Lisa Suennen

Download a copy of the interview transcript right here.

You May Like These Articles

  • Recent
  • Featured
  • Related

3 Critical Goals Every New Medical Device Should Aim For: Interview with Doug Evans, CEO of Lungpacer Medical

In this interview with Doug Evans, CEO of Lungpacer Medical, we discuss tips for launching medtech startups, working with payers & regulators, commercializing novel technologies, and we'll learn more about Lungpacer's impressive system.

Why Medtech Founders Should Not Over-Focus on Dilution: Interview with Renee Ryan, CEO of Cala Health

In this interview with Renee Ryan, CEO of Cala Health, we discuss some common mistakes that medtech startups make, and talk about what she looks for as an investor in early-stage companies. She also shares tips on navigating the regulatory waters and obtaining insurance coverage & reimbursement.

The Biggest Mistakes to Avoid When Designing Medical Device Prototypes: Interview with Mike Wallace, CEO of DeVoro Medical

In this interview with Mike Wallace, CEO of DeVoro Medical, he tells about the mistakes medtech entrepreneurs often make in the early stages of their companies and how you can pivot when an idea doesn’t pan out.

Key Lessons for Developing an Insurance Coverage and Reimbursement Strategy: Interview with Mike Kujak, CEO of Francis Medical

In this interview with Mike Kujak, CEO of Francis Medical, he offers advice about navigating the early-stage medtech regulatory and reimbursement environments.

Conquering the Coverage and Reimbursement Landscape: Interview with Bruce Shook, President of Intact Vascular

In this interview, Bruce Shook discusses medical device insurance coverage and reimbursement, as well as advice for other healthcare entrepreneurs that need to raise money.

Why Curiosity and Persistence are Crucial Characteristics for Medtech Entrepreneurs: Interview with the Legendary Dr. John Simpson, Executive Chairman of Avinger

In this interview, the legendary Dr. John Simpson shares what drew him to the field of cardiology, his approach to building a medtech team, and why knowing your strengths and limitations is key to making a difference in the lives of others.

After Selling 2 Cardiovascular Companies for Over $1 Billion, Duke Rohlen is Now Hoping to do the Same with Spirox and Advanced Cardiac Therapeutics

In this interview with Duke Rohen, he discusses how he successfully led two early-stage medtech companies at the same time and the major lessons he learned raising money for 4 different medical device companies.

Having a Heart Attack? There’s an App for That! The Incredible Story of How Dr. David Albert Brought the ECG iPhone App to Market

In this interview with Dr. David Albert, we learn about his incredible journey in bringing the first iPhone ECG app to market with AliveCor.

Why Early Stage Medical Device Deals Aren’t as Bad as You May Think: Interview with Mike Carusi, General Partner at Lightstone Ventures

In this interview with medtech venture capitalist, Mike Carusi, he explains why early-stage medical device companies should look at biotech and pharma for creative ways to fund their companies.

Is Medtech Venture Capital Dead in the Water? Interview with Kevin Bitterman, Principal at Polaris Venture Partners

In this interview with Kevin Bitterman, we learn what medtech venture capitalists like to see in a startup and how these early-stage medical device companies can best position themselves for success.

How to Fund Medtech Startups in a Capital-Efficient Manner: Interview with Rich Ferrari, Managing Director of De Novo Ventures

In this interview with Rich Ferrari of De Novo Ventures, we learn more about the current state of medtech venture capital and the impact on medical device startups.

What it Takes to Get a Medtech VC to Say Yes: Interview with Lisa Suennen

In this interview with Lisa Suennen, we learn why medical device companies will need to adjust their business models to succeed in today's healthcare environment.

Success! Your membership is now active.