cover of episode A New Model for Funding Healthcare Innovation

A New Model for Funding Healthcare Innovation

2024/12/10
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Cold Call

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Duke Rohlen
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Regina Herzlinger
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Regina Herzlinger: 我认为医疗保健行业的一个主要问题是大型公司内部难以进行创新。由于行业寡头垄断和复杂的监管环境,新技术的商业化和应用面临诸多挑战。Ajax Health 的模式通过将创新引擎与商业引擎分离,并通过私募股权融资解决了资金问题,为医疗技术创新提供了一种新的思路。这种模式不仅适用于医疗保健行业,也可能适用于其他需要克服创新障碍的行业,例如国防和娱乐行业。 此外,当前的技术进步,例如人工智能和个性化医疗,为医疗保健领域的创新提供了前所未有的机遇。医疗保健行业效率低下,存在很大的改进空间。Ajax Health 的模式可以提高效率,降低成本,并使医疗保健服务更加普及。 Duke Rohlen: 我在创办 Ajax Health 之前,已经创办并成功出售了五家医疗技术公司。在这些经验的基础上,我开发了“底盘和增长驱动器”模型。这个模型的核心是通过收购一个发展停滞的公司(例如 Cordis),并建立一个独立的创新引擎(Cordis X)来推动增长。Cordis X 就像一个 App Store,为技术开发提供了一个平台。这种模式解决了医疗技术公司面临的风险和资本需求问题,并通过将创新与商业化分离,提高了效率。 在 Cordis 的案例中,我们成功地改变了公司文化,使其从一个发展停滞的公司转变为一个高速发展的公司。这需要领导力、志同道合的团队以及授权。我们对领导团队进行了大规模的调整,并通过激励和授权,使公司上下都认识到创新的重要性。这种模式不仅适用于收购的公司,也适用于其他需要创新的医疗技术公司。未来,我计划将这种模式推广到更多公司,并培养下一代医疗保健领域的创新者。

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Entrepreneur Duke Rohlen creates California-based Ajax Health under a new model for innovation and business growth. Calling it the “Chassis and Growth Drivers” model, he structures it to create innovative new products to capture a higher portion of the financial returns. Partnering with major private equity firms, Rohlen considers a $1 billion bid to buy Cordis.

If Ajax’s bid is successful, they will invest an additional $300 million to fund an off-balance sheet accelerator, which will develop innovative new products to drive revenue growth. Should Rohlen and his partners invest the $1.3 billion to implement this model? Is Cordis the right opportunity for Rohlen and his team?

Ajax Health founder Duke Rohlen (HBS MBA 2001) and HBS Professor Regina Herzlinger join host Brian Kenny to discuss the key success factors for both start-up and established medical technology firms. The case “Ajax Health: A New Model for Medical Technology Innovation)” showcases how to structure a firm—in any industry—to maximize innovation and financial returns by better aligning incentives for the different skill sets required.