How to become a surgeon entrepreneur (w/ Dr. Joshua Ammerman - Neurosurgeon & Founder of Combospine)

The Medtech Innovation Podcast

I'm joined by Dr. Josh Ammerman, Founder and CEO of ComboSpine, as we explore the journey from practicing neurosurgeon to medtech entrepreneur and the challenges of building a successful startup in the spine surgery space.

In this episode, we breakdown:

1. The Physician Entrepreneur's Journey
→Transition from clinical practice to medtech innovation
→Importance of surrounding yourself with the right team and resources
→Recognizing the need for business skills beyond medical expertise

2. Navigating the Regulatory Maze
→Building strategic partnerships and avoiding common pitfalls
→The value of a holistic approach to product development
→Importance of considering market dynamics and regulatory constraints

3. Mastering Value Analysis Committees (VACs)
→Evolution of VACs and their impact on purchasing decisions
→Strategies for developing clinical champions
→Tailoring your approach to different hospital contracting models

4. Fundraising in a Challenging Climate
→The importance of storytelling and persistence in pitching
→Value of lead investors and maintaining investor relationships
→Balancing clinical expertise with business acumen in presentations

5. Building a Culture-Centric Startup Team
→Focusing on shared values and work ethic
→Importance of responsiveness and ethical behavior
→Extending company culture to distributors and partners

Best Quotes:
"As a physician entrepreneur, I have absolutely no training in anything but the surgical skills. No one ever taught me how to found a business, how to raise money, how to build a team, pursue intellectual properties, build a business plan. We don't teach doctors how to do that."

"First dollars are way harder than last dollars. Getting to the 50-yard line on your fundraising opens up all sorts of opportunities."

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FIND SPENCER JONES ON SOCIAL
LinkedIn: https://www.linkedin.com/in/spencer-jones-...
XO Medtech Linkedin: https://www.linkedin.com/company/xo-medtech

FIND DR. JOSH AMMERMAN ON SOCIAL
LinkedIn: https://www.linkedin.com/in/joshua-ammerma...
Combospine Linkedin: https://www.linkedin.com/company/combospine/
ComboSpine: www.combospine.com

Episode Timestamps:
0:00 - Introduction to Dr. Josh Ammerman and ComboSpine
4:45 - The Physician Entrepreneur's Journey
9:42 - Navigating the Regulatory Maze
14:55 - Mastering Value Analysis Committees (VACs) and selling into hospitals
23:45 - Fundraising in a Challenging Climate
31:32 - Building a Culture-Centric Startup Team