Episode 4: M&A, IPO, or SPAC? Choosing the Right Exit Strategy for your Medtech Company.
March 23, 12:00 – 1:30 pm EDT
The Medtech MVP conference is well-known for gathering the leading innovators, investors, and executives from around the nation to discuss the timeliest issues and opportunities. COVID-19 forced us to postpone the 2020 conference, which led us to launch this Medtech Talk Digital Discussion Series. Like the conference, this series features discussions (panels or fireside chats) moderated by Medtech Talk podcast host Geoff Pardo that explore relevant topics for medtech leaders. We’re excited to bring you another impactful conversation with the caliber of speakers you’ve come to expect at Medtech MVP.
This fourth episode features both an exclusive panel interview with three successful medtech CEOs who each exited their companies through a different pathway— M&A, IPO, and SPAC— and a deeper dive case study of Revelation Biosciences’ recent SPAC.
We’ll hear candid insights into:
At a time when medtech leaders are continuously evaluating their exit options, you will not want to miss these valuable insights!
Moderator: Geoff Pardo, General Partner, Gilde Healthcare; Host, Medtech Talk podcast
Bruce Shook, Former President & CEO, Intact Vascular and Vesper Medical
Clint Carnell, Co-Founder & Chairman, OrangeTwist; Former CEO, BeautyHealth
Leslie Trigg, CEO, Outset Medical, Inc.
Chester Zygmont, CFO, Revelation Biosciences, Inc.
Lauren Taylor, Partner, Fox Rothschild, LLP
Stephen Cohen, Partner, Fox Rothschild, LLP
Geoff Pardo joined Gilde Healthcare in 2011 as a partner working out of the office in Boston/Cambridge, MA, and is focusing on Gilde’s investments in North America. He led the investments in Inari Medical (NASDAQ: NARI), Axonics Modulation Technologies (NASDAQ: AXNX), Eargo (NASDAQ: EAR), CVRx, Ablative Solutions, Vesper Medical, InovaLabs (acquired by ResMed), BionX (acquired by Ottobock), and Vapotherm (NYSE: VAPO) and represents or has represented Gilde as a member of the board of directors for each company. Previously, he was a partner at Spray Venture Partners where he led investments into Interlace Medical (sold to Hologic), Solace Therapeutics, TearScience (sold to J&J), and Cascade Ophthalmics. He served on the board of Solace, TearScience, and Cascade, and was actively involved in Interlace and Conventus Orthopedics. Geoff also served as President & CEO of Facet Solutions, a spinal implant company focused on treating lumbar spinal stenosis, until the company was sold to Globus Medical in 2011. He has also worked at Cardinal Partners as an associate leading their investing activity in the medical device sector. Geoff began his career in medical devices as a product manager with Synthes USA, and he has a BA with honors in History from Brown University and an MBA from the Wharton School of Business. He is a US citizen based in Gilde Healthcare’s Cambridge, MA, office.
Bruce Shook is a serial medical technology entrepreneur with more than 35 years of industry experience, including multiple early-stage ventures focused on opportunities in cardiac surgery, cardiology, neurosurgery, psychiatry, and vascular disease. Mr. Shook formed Vesper Medical in 2016 as a spinout of Intact Vascular. Mr. Shook served as President & CEO of both Intact Vascular and Vesper Medical until Intact Vascular was purchased by Royal Philips in 2020 and Vesper Medical was acquired by Royal Philips in 2022. Prior to Vesper Medical and Intact Vascular, Mr. Shook was co-founder, Director, President, and CEO of Neuronetics [NASDAQ: STIM], which markets a non-invasive brain stimulation technology for the treatment of depression. Previously, Mr. Shook was co-founder, Director, President, and CEO at Neuron Therapeutics, a venture-backed company developing a drug/device product for the treatment of CNS disorders and President of Abiomed [NASDAQ: ABMD] where he successfully obtained PMA approval for the first FDA-approved ventricular-assist device. Mr. Shook also developed cardiac pacing and anti-arrhythmia products at Cordis Corporation. Mr. Shook has served on several corporate boards including Devoro Medical (acquired by Boston Scientific), Surgiquest (acquired by Conmed), Respicardia (acquired by Zoll), and CoTherix (acquired by Actelion). Mr. Shook currently serves on the Neuronetics Board of Directors (Nomination & Governance Committee Chair), Life Sciences PA (Board Chair), and the Penn State Research Foundation (Board Chair). Mr. Shook holds advanced degrees in Biomedical Engineering and Business Administration from Columbia University and the MIT Sloan School of Management, respectively. He earned a BS degree in Chemical Engineering from Penn State University.
Clint Carnell is a visionary leader, category creator, and serial entrepreneur having led, founded, and taken public multiple companies in consumer healthcare. Most recently, Clint led BeautyHealth and its flagship brand Hydrafacial (Nasdaq: SKIN) from a 175m dollar acquisition in 2016 under private equity ownership to a public company with a 4.5 billion dollar market cap growing revenues 5x over 5 years. He is the co-founder and chairman of OrangeTwist a leading health + wellness lifestyle brand with 15 locations across the US providing medical aesthetic services. Previously, Clint was the COO for Solta Medical from 2005-2011, taking the company public in 2006, and developing the global brands Thermage, Fraxel, and Clear + Brilliant. During the early 2000s, Clint founded and sold Charleston Renal Care to Davita and led Bausch & Lomb’s US Surgical business from 2000-2005 during the development of LASIK. He is a Duke University graduate where he was an all-ACC soccer standout and a member of the US Olympic Soccer Qualifying Team.
Leslie Trigg has served as Outset’s CEO and as a member of the board of directors since November 2014. Leslie joined Outset from Warburg Pincus where she was an Executive in Residence. Previously, she was Executive Vice President at Lutonix, a cardiovascular medical device company acquired by CR Bard. Prior to Lutonix, Leslie served as Chief Business Officer of AccessClosure, a vascular closure company acquired by Cardinal Health. Before joining AccessClosure, Leslie served as Vice President, Marketing for FoxHollow Technologies, helping to architect the strategy and commercial infrastructure that led to a successful IPO and subsequent acquisition by ev3/Covidien. Leslie’s management experience also includes senior leadership positions at Cytyc Corporation and breast cancer diagnostics company Pro-Duct Health, Inc., which was acquired by Cytyc. She began her medical device career at Guidant Corporation. Leslie currently serves on the board of directors of Adaptive Biotechnologies and the Medical Device Manufacturers Association (MDMA). Leslie received her undergraduate degree from Northwestern University and her MBA from the Haas School of Business, UC Berkeley.
Chester Zygmont, III is Chief Financial Officer of Revelation Biosciences, Inc. (Nasdaq: REVB). Mr. Zygmont brings over 17 years of experience in finance to Revelation with a wide range of industry applications. Since 2016, Mr. Zygmont has been building Jivanas, a social enterprise that owns and operates a factory in Nepal helping create jobs for people at risk for human trafficking. Jivanas has operations in Nepal, Hong Kong, and the USA. During 2013, Mr. Zygmont started oOxesis Biotechnology LLC, a biologics lab that worked on developing therapies for unmet needs. From June 2012 to January 2016, Mr. Zygmont was the Interim CFO and Senior Director of Finance at La Jolla Pharmaceutical Company (La Jolla). During Mr. Zygmont’s tenure at La Jolla, he brought the company to NASDAQ listing. Prior to La Jolla, Mr. Zygmont served as Managing Director at Z3 Capital, LLC from March 2009 to June 2012. Z3 Capital, LLC, a privately held investment firm, focused on investment acquisition and venture funding for multiple startup companies in real estate, medical device and biotechnology. Mr. Zygmont also served as Vice President at Symmetry Advisors, Inc., a private equity leveraged buyout firm. While at Symmetry, he managed finance for its public sector fund, was a key player on a $600 million buyout of a portfolio company, and subsequently led the restructuring of its manufacturing division. Mr. Zygmont earned his MS in Finance from Baruch College, Zicklin School of Business and his BA from Eastern University.
Lauren Taylor is a partner at Fox Rothschild, LLP. Lauren's practice focuses on a broad range of transactional real estate and corporate matters. Before Fox Rothschild, Lauren externed for U.S. Magistrate Judge Peter B. Scuderi in the Eastern District of Pennsylvania. While attending law school at Villanova, she was a volunteer with the Lawyering Together Program, a pro bono program. Lauren was also a summer associate with a Media, PA, law firm. Beyond Fox Rothschild, Lauren is a member of the Pennsylvania Bar Association, the Bucks County Bar Association, the Tri-State Realtors Commercial Alliance, and the Home Builders Association of Bucks/Montgomery Counties. She earned her JD at Villanova University School of Law and her BA at Saint Joseph's University.
Stephen Cohen is a partner at Fox Rothschild, LLP. Steve is Co-Chair of the firm’s Public Companies Practice. He advises middle-market public and private companies in a variety of transactional and corporate finance matters. He is an experienced securities and corporate lawyer who represents public companies in a variety of SEC reporting and corporate finance matters, including initial and follow-on public offerings, public and private financings (including private placements, PIPEs, and venture financing), traditional SEC reporting, and proxy work. He has served as primary counsel for public companies engaged in public and exempt offerings, as well as for hedge and private equity funds implementing acquisition and portfolio investment strategies. Steve's practice includes an emphasis on business combinations (M&A) both domestic and cross-border, corporate finance transactions, and venture financing, primarily for middle-market investment funds and public and private companies. In addition, Steve has advised clients on a broad variety of corporate governance matters, including the implementation of defensive anti-takeover measures, capital restructuring transactions, as well as share repurchase and self-tender strategies. Steve is a member of the Pennsylvania Bar Association. He earned his JD at Temple University School of Law and his BS at Villanova University College of Commerce and Finance.
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