MedTech POV with Scott Whitaker | CVRx CEO Joins Podcast to Discuss the Unique Opportunities Within Small Companies and Importance of Public-Private Industry Collaboration
WASHINGTON, D.C. – Nadim Yared, President and CEO of medical technology startup CVRx, recently joined AdvaMed’s Scott Whitaker on the Medtech POV Podcast to discuss his expansive medtech career – from engineer to CEO – and how his work to improve communication between FDA and the medtech industry has vastly changed over the years.
During the episode, Yared reflected on his first experiences in the medical field, volunteering with the Red Cross, as a teenager in Lebanon. After pursuing a degree in engineering, Yared gained valuable experience working at Medtronic and GE Medical. He discussed the shift from being part of a massive, global team to overseeing a small startup company and how his role at CVRx has helped him learn how to communicate with investors and board members. Reflecting on his transition to leading CVRx, Yared noted: “One thing that surprised me early on is how smart and rapid thinkers most investors are in medtech.”
For those looking to work and find success in a startup environment, Yared shared this advice, “You have to get out, join AdvaMed… find other avenues where you can interact with peers of yours from different industries and start building your network. The more you do this, the more at ease you will be trying to understand that there is a world outside of General Electric, there is a world outside of Medtronic… [D]on’t be afraid. The risk profile is very different when you’re working in a large company, an established company versus a startup, but also, the risk-reward profile is less skewed in a startup.”
Throughout the episode, Yared also emphasized the unique leadership opportunities that come with working at a small company and numerous advantages to work with other organizations in the industry.
The conversation highlighted how FDA’s culture and the communication challenges at the time initially brought Yared to AdvaMed meetings. He recalled, “When I started talking about the culture at FDA, I felt everybody was talking the same language as I did at AdvaMed and it was a shared concern, whether you’re a small company or a big company.” He credits the current collaborative nature between the industry and the FDA to members of AdvaMed and past leadership, but notes it was not easy and required a great amount of effort.
Whitaker agreed: “One of the things that struck me during the pandemic was the importance of public-private partnerships and collaboration. When we understand each other and collaborate together, the outcomes are tremendous.”
As a result of Yared’s work with the association, the industry has made strides with the FDA, including changes to the medical device excise tax.
Listen to the full conversation by visiting the MedTech POV podcast on Spotify, Apple Podcasts, or wherever podcast streaming is available. For more information on the podcast and past guests, click here.
MedTech POV is hosted by Scott Whitaker, President and CEO of AdvaMed, the world’s largest medical technology association. It premiered in April 2021 and has featured medtech and health care policy leaders such as Dr. Steven Hahn and General James Mattis. In each episode, guests and host Scott Whitaker cover the intersection of medtech and policy from every perspective, including current issues in business, policy, and current events.
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AdvaMed member companies produce the medical devices, diagnostic products and digital health technologies that are transforming health care through earlier disease detection, less invasive procedures and more effective treatments. AdvaMed members range from the largest to the smallest medical technology innovators and companies. For more information, visit www.advamed.org.