BackTable / Innovation / Podcast / Episode #14

From Idea to Exit: the Brightwater Medical Story

with Dr. Bob Smouse

Interventional radiologist and entrepreneur Bob Smouse joins us to discuss his journey through the development of the ConvertX nephroureteral and biliary stent system and Merit Medical Systems, Inc.'s recent acquisition of his company.

From Idea to Exit: the Brightwater Medical Story with Dr. Bob Smouse on the BackTable Innovation Podcast)
Ep 14 From Idea to Exit: the Brightwater Medical Story with Dr. Bob Smouse
00:00 / 01:04

BackTable, LLC (Producer). (2021, December 31). Ep. 14 – From Idea to Exit: the Brightwater Medical Story [Audio podcast]. Retrieved from https://www.backtable.com

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Podcast Contributors

Dr. Bob Smouse discusses From Idea to Exit: the Brightwater Medical Story on the BackTable 14 Podcast

Dr. Bob Smouse

Dr. Bob Smouse is an Interventional Radiologist turned serial entrepreneur. He is currently the president and director at Respiratory Motion, Inc.

Dr. Bryan Hartley discusses From Idea to Exit: the Brightwater Medical Story on the BackTable 14 Podcast

Dr. Bryan Hartley

Dr. Bryan Hartley is a practicing radiologist, host of the BackTable Innovation series, and co-founder of Pulmera in Palo Alto, CA.

Show Notes

In this episode, interventional radiologist and entrepreneur Dr. Bob Smouse joins our host Dr. Bryan Hartley to discuss his journey through the development of the ConvertX stent and the recent acquisition of his company, BrightWater Medical.

Dr. Smouse starts by describing his path from private practice physician, to key opinion leader, to company advisor, and finally to entrepreneur. While incubating several product ideas, he emphasizes the importance of conducting 360 degree evaluations to identify market opportunities and competitors. Dr. Smouse talks about market research strategies, which include population research and physician interest surveys. He also recounts the process of obtaining intellectual property rights and regulatory approval for the ConvertX nephroureteral and biliary stent system.

When building his leadership team, Dr. Smouse recommends bringing on an experienced CEO once the company has reached a growth stage. He recognizes the benefits of using equity as a tool to incentivize early employees.

In the second part of our interview, Dr. Smouse discusses the importance of selling a vision to investors and strategics. He advises entrepreneurs to overestimate the time and capital required for each step of product development, in order to address unexpected challenges. Finally, he highlights the need to develop a sales model with a revenue ramp that shows investors how customers will be acquired and retained.

Resources

Disclaimer: The Materials available on BackTable.com are for informational and educational purposes only and are not a substitute for the professional judgment of a healthcare professional in diagnosing and treating patients. The opinions expressed by participants of the BackTable Podcast belong solely to the participants, and do not necessarily reflect the views of BackTable.

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