In this episode of The Healthy Enterprise, Vance Clement, CEO of Lineus Medical, shares how his company is transforming the vascular access space with its innovative IV device, SafeBreak. Drawing on over 30 years in the medical device industry, Vance discusses the challenges of building a healthcare startup, navigating FDA approval, and scaling in a complex market. He also explores the evolving dynamics of hospital purchasing, the power of strategic sales and marketing, and the leadership qualities—trust, perseverance, and optimism—that drive success in medtech innovation.
Chapters
00:00 Introduction to Lineus Medical and Vance Clement
02:55 Innovative Solutions in Vascular Access
06:01 The Journey of Product Development
08:49 Building a Sales Team in Medical Devices
12:00 Challenges in the Medical Device Industry
14:55 Navigating the Sales Cycle and Market Adoption
18:11 Expanding into New Markets
21:02 The Future of SafeBreak and Global Reach
29:16 Exploring Market Opportunities in Medical Devices
30:56 Navigating FDA Approval and Market Entry
32:59 Innovations and Future Developments in Medical Devices
35:10 Marketing Strategies for Medical Devices
40:07 The Evolving Role of Purchasing in Healthcare
43:46 Leadership Insights and Building Trust
47:58 Perseverance and Optimism in Entrepreneurship
Guest Information:
Chapters
00:00 Introduction to Lineus Medical and Vance Clement
02:55 Innovative Solutions in Vascular Access
06:01 The Journey of Product Development
08:49 Building a Sales Team in Medical Devices
12:00 Challenges in the Medical Device Industry
14:55 Navigating the Sales Cycle and Market Adoption
18:11 Expanding into New Markets
21:02 The Future of SafeBreak and Global Reach
29:16 Exploring Market Opportunities in Medical Devices
30:56 Navigating FDA Approval and Market Entry
32:59 Innovations and Future Developments in Medical Devices
35:10 Marketing Strategies for Medical Devices
40:07 The Evolving Role of Purchasing in Healthcare
43:46 Leadership Insights and Building Trust
47:58 Perseverance and Optimism in Entrepreneurship
Guest Information:
- Guest's Name: Vance Clement
- Guest's Title/Position: CEO and Co-Founder
- Guest's Linkedin: https://www.linkedin.com/in/vance-clement-4378464/
- Company / Affiliation: Lineus Medical https://www.lineusmed.com/
- Guest's Bio: Vance Clement is the CEO and Co-Founder of Lineus Medical, bringing over 30 years of experience in the medical device industry. Since joining Lineus in 2015 and becoming CEO in 2018, he has guided the company’s growth and innovation. Previously, Vance led sales and marketing at BlueInGreen, where he quadrupled annual revenue, and held senior marketing roles at Mako Surgical, helping expand the company from a small orthopedic start-up to over $100M in sales. He also spent a decade at Smith & Nephew Orthopaedics and began his career at Wright Medical Technology. Vance holds a B.S. in Industrial Engineering from the University of Arkansas and an MBA from Christian Brothers University. He has been recognized as a C-Suite Leader (2021), a State Tech Leader (2022), and a Distinguished Engineering Alumni (2024).
Takeaways:
-Vance Clement is the CEO of Lineus Medical, focusing on vascular access solutions.
-Lineus Medical's product, SafeBreak, addresses IV complications effectively.
-IVs fail 46% of the time, highlighting a significant healthcare issue.
-The device allows for safe separation of IV lines to prevent complications.
-Vance's background includes extensive experience in medical device sales and marketing.
-Building a sales team in the medical field presents unique challenges.
-The sales cycle for medical devices can be long and complex.
-Market adoption requires thorough product evaluations and nurse buy-in.
-The veterinary market presents new opportunities for Safebrake.
-Lineus Medical is expanding its reach globally, with regulatory approvals in multiple countries.
-There's a significant market opportunity in medical devices.
-Navigating FDA approval is a critical step for market entry.
-Innovations in medical devices can lead to better patient outcomes.
-Effective marketing strategies are essential for medical device companies.
-Purchasing departments hold significant power in healthcare decisions.
-Building trust and integrity is crucial in leadership roles.
-Perseverance and optimism are key traits for entrepreneurs.
-Understanding the needs of healthcare professionals can drive product success.
-Engaging with top management can lead to better market penetration.
-Digital marketing may not always yield immediate results in healthcare.
-Vance Clement is the CEO of Lineus Medical, focusing on vascular access solutions.
-Lineus Medical's product, SafeBreak, addresses IV complications effectively.
-IVs fail 46% of the time, highlighting a significant healthcare issue.
-The device allows for safe separation of IV lines to prevent complications.
-Vance's background includes extensive experience in medical device sales and marketing.
-Building a sales team in the medical field presents unique challenges.
-The sales cycle for medical devices can be long and complex.
-Market adoption requires thorough product evaluations and nurse buy-in.
-The veterinary market presents new opportunities for Safebrake.
-Lineus Medical is expanding its reach globally, with regulatory approvals in multiple countries.
-There's a significant market opportunity in medical devices.
-Navigating FDA approval is a critical step for market entry.
-Innovations in medical devices can lead to better patient outcomes.
-Effective marketing strategies are essential for medical device companies.
-Purchasing departments hold significant power in healthcare decisions.
-Building trust and integrity is crucial in leadership roles.
-Perseverance and optimism are key traits for entrepreneurs.
-Understanding the needs of healthcare professionals can drive product success.
-Engaging with top management can lead to better market penetration.
-Digital marketing may not always yield immediate results in healthcare.