After successfully completing the first edition of the BIOMED ScaleUP program, CataloniaBio & HealthTech has chosen the issue of scaling up companies in the sector to debate in the context of the CEO Council. A group of CEOs of CataloniaBio & HealthTech met at the Barcelona School of Management (UPF) on November 10 to discuss this aspect that is critical to our ecosystem.
The special guest of the session was Amit Jain, co-founder of Veersa, Inc., a medical technology company based in the United States, and a seasoned Senior Operating Executive with extensive experience in the Healthcare industry, including US biotech/pharma commercialization and supply chain as well as the technology Industries. His resume includes, among other things, being an Executive Officer and Head of Business Operations of Omnicare Inc., a Fortune 500 healthcare services company where Amit was a core member of the team responsible for transforming the organization to deliver accelerated revenue and EBITDA growth which resulted in the strategic sale of the company to CVS Health for $12.5 billion, one of the largest Healthcare deals in 2015.
Far from the usual inspirational talks about innovation and leadership, Jain focused the debate and conversation around his own hands-on professional experience. "As a CEO, in a growing company, you can't be everywhere and do everything, but you have to be able to keep your eyes on as many places as possible," Jain reflected. One of his basic recommendations is to monitor the company and its departments based on established metrics: "delegate to your people but be strict in the delivery and monitoring of marked indicators." He also stressed the importance of having a clear vision of the company itself and the way forward, to be able to convey it to staff at all levels.
Investment management is also a key aspect in this growth. "Knowing when to raise capital is critical. For me, the right time is when you are about to grow exponentially, you must use the momentum", while admitting the challenges of getting that moment right, recommended having the tools to be able to identify it.
For Jain, the role of CEO can be a very lonely position: "I've been there, you feel that it's all your responsibility, that's why it's important to have good board." He added that “it is important to spend your time having a good board; it has to be a group of professionals who challenge you and take you out of your comfort zone, who can help you and help you find ways to grow your business.”
The CEO Council session was moderated by Montserrat Vendrell, managing partner at Alta Life Sciences and CataloniaBio & HealthTech board member. Melqui Calzado, the general secretary at CataloniaBio & HealthTech was also present.
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