Financing Innovation and Technology in Healthcare Conference
The Union League Club of Chicago
65 Jackson Street
Chicago, IL 60604
Friday, March 14, 2014
9:00 am – 6:00 pm
UNIVERSITY OF CHICAGO PARNTERS
MEDIA & MARKETING SPONSORS
Financing Innovation and
Technology in Healthcare
|March 14, 2014
Union League Club
It has been estimated that 50% of global economic growth in the past two centuries is a result of advances in medical sciences. Innovation and technology in healthcare have played an integral role in improving the quality and quantity of life, yet these breakthroughs can be costly. Through a series of engaging panel discussions, the 2nd Annual Financing Innovation and Technology in Healthcare Conference will convene a renowned cadre of industry leaders to identify opportunities for expediting medical advances, financing healthcare enterprises, and identify methods in which the many stakeholders in healthcare can work together in an efficient way.
This conference is evolving into one of the most respected and influential industry events, which attracts an impressive group of financiers, researchers, policy experts, and entrepreneurs to network and exchange ideas about financing healthcare innovation and technology in the post-reform environment. The 2012 conference in Chicago was a resounding success – attended by approximately 100 professionals representing healthcare, technology, venture capitalist, law, and private equity – and due, in large part, to the generous financial support from our sponsors.
In order to enrich the conference experience, this year's event will once feature relevant topics, bring together influential speakers, and afford attendees networking opportunities. Discussion topics for the 2nd Annual Financing Innovation and Technology in Healthcare Conference will analyze how investments in healthcare innovation and technology can strengthen the economies of metropolitan areas, opportunities and challenges of the medical device industry, the evolving role of health information technology, and the increasing importance of accelerating innovation through continued R&D investment.
|8:00 – 9:10 am
||Registration and Networking Breakfast
|9:10 – 9:15 am
||Welcome and Introduction: Sunil Kumar, Ph.D. – Dean and George P. Shultz Professor of Operations Management, University of Chicago Booth School of Business
|9:15 – 10:30 am
Strengthening Metropolitan Economies through Investments in Healthcare Innovation and Technology
Overview: Innovation has become the foundation of knowledge-based economies. Increasingly, investments in healthcare infrastructure and innovation are being promoted as pillars for economic growth and development for metropolitan areas around the globe. As a result, a number of cities are becoming hubs for connecting people and ideas with capital resources to fuel growth in technology and the life sciences. This panel will discuss how investment in health and medical technologies have develop next-generation companies and business leaders, stimulated job creation, and strengthened regional economies in Chicago (IL) and Tel Aviv (Israel).
Moderator: Warren Ribley, MBA – Executive Director, Illinois Medical District
- Yariv Becher – Consul for Economic Affairs to the Midwest, Government of Israel Economic Mission to the Midwest
- John Flavin, MBA – Executive Director, Chicago Innovation Exchange; Managing Director, Flavin Ventures
- Carolynn Nowinski, M.D. – Associate Vice President for Innovation and Economic Development, University of Illinois
- Michael Rosen, MBA – Senior Vice President, New Business Development, Forest City Science + Technology Group
|10:30 – 10: 45 am
|10:45 – 12:00 pm
||The Medical Device Industry: Tremendous Opportunities, Unique Challenges
Overview: The U.S. medical device industry generates in excess of $60 billion in annual revenues, has greater than 88,000 employees, and is projected to grow at 6.6% per year from 2013 – 2017. In fact, it is one of the few American manufacturing sub-sectors that consistently exports more than it imports (exports doubled between 1998 and 2008, to $33 billion annually). While an aging population and an expansion of coverage by the Affordable Care Act are projected to increase demand for medical devices, the recently imposed medical device excise tax, a complex and bureaucratic regulatory environment, and increased global competition may negatively impact profits for companies in the industry. This panel will discuss how the medical device industry can remain a source of life-enhancing and life-sustaining treatments and cures, as well as a driver of current and future U.S. economic growth.
Moderator: Steven Gould, M.D. – Founder and Principal, The Gould Consulting Group LLC; Former Chairman and CEO, Northfield Laboratories, Inc.<
- Joseph Galatowitsch, MBA – Managing Partner and President, Dymedex
- David Song, M.D., MBA, FACS – Cynthia Chow Professor, Chief of Plastic and Reconstructive Surgery; Vice Chairman, Department of Surgery, University of Chicago Medicine
- Nicole Walker, MEM, MBA – Partner, Baird Capital
- Kristian Werling, J.D., MBA – Partner, McDermott Will & Emery
|12:00 – 1:00 pm
|1:00 – 2:15 pm
||Starts and Exits: The Life Cycles of Life Science Start-Ups
Sponsored by: Knobbe Martens
Overview: As healthcare expenditures rise and reimbursements fall, the importance of providing cost-effective care is critical. To mitigate these cost shifts, risk-sharing models have become more common and stakeholders’ priorities are being redefined. In particular, stakeholders are now more focused on the costs of their decision and rely on big data to help make evidenced based decisions. This panel will explore how various healthcare stakeholders have shifted their focus to information technology to prepare for emerging challenges.
Moderator: Thomas Yee, J.D. – Partner, Knobbe Martens
- Ronald Adams, B.S. ,M.S. Mech Eng. – Chief Technology Officer, Interlace Medical
Mr. Adams is a seasoned entrepreneur, executive, and engineer in the medical device industry. His career in Medical Device Development includes positions at J&J, Boston Scientific, Smith & Nephew and Hologic As the Chief Technology Officer of Interlace Medical, Mr. Adams oversaw product research and development of minimally invasive gynecologic devices. He was instrumental in Interlace’s clinical trials and fundraising initiatives, including raising $21 million in a Series C financing round. Interlace Medical was acquired by Hologic for $125 million in 2011 with earnouts adding another $140MM in 2012 & 2013. Mr. Adams is currently President of two startups, Green Rose Medical and Emmy Medical, and is a named inventor on 50+ issued patents and pending patent applications.
- Bryan Wahl, M.D., JD – Partner, Knobbe Martens
- Jeffrey Yu, M.D. – Founder, OneMedNet
|2:15 – 2:30 pm
|2:30 – 3:45 pm
Moving Forward with Healthcare Reform: Accelerating Innovation through R&D Investments
Overview: Increased spending on basic scientific research has been one of the few political issues to garner bi-partisan support in Washington, DC. However, as a result of budget pressures and recent sequestration cuts, the American Association for the Advancement of Science has estimated that $54 billion in federal R&D spending for science, research and innovation could be wiped out in the next five years. Even more, many economists agree that private sector companies tend to under-invest in basic scientific research. Meanwhile, in pursuit of becoming global leaders in science and innovation, countries such as China and India continue to increase government R&D expenditure as a percentage of GDP. This panel will discuss the role of both the public and private sectors in accelerating innovation through R&D investments, and how the U.S. can remain at the epicenter of innovation.
Moderator: Jabali Wells, M.D., MBA, MSc. – Partner, Amicus Capital Partners
- Patrick Cunningham, MFA – President & Managing Director, Chicago Life Sciences Consortium (CLSC)
- Gail Naughton, Ph.D. – Chairman & CEO, Histogen Inc.
- Kenneth Polonsky, M.D. – Executive Vice President for Medical Affairs; Dean and Richard T. Crane Distinguished Service Professor of Medicine, Pritzker School of Medicine; Dean, Division of Biological Sciences, University of Chicago
|3:45 – 4:00 pm
|4:00 – 5:30 pm