Beyond their altruistic and sales goals, medical device startups generally keep an eye out for the exit. Getting there requires planning, patience and persistence, according to a couple of medtech executives who’ve been through it.
Martha Shadan headed Plymouth, Minn.–based Rotation Medical, a private company sold to Smith & Nephew in December 2017, just three years after launching its regenerative shoulder repair treatment. Bob White has been through two exits, selling privately owned TYRX, a New Jersey-based maker of surgical infection prevention products, to Medtronic in 2014 for an up-front cash payment of $160 million, and public company Entellus Medical of Plymouth, Minn. in February for $668 million to Stryker. Founded in 2006, Entellus makes a family of minimally invasive balloon device products, including its flagship Xpress device, that are designed to treat blocked sinuses.
Shadan and White spoke at the DeviceTalks Minnesota event this week in St. Paul.
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