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December 2019

We are excited to bring back the WEN newsletter, a monthly collection of updates, events and happenings at WEN, and inspiring features of women leaders in medtech. Do you have an event, comment or idea for a future article? Reach out to us at WEN@advamed.org. We’d love to hear from you!

     
portrait of Lisa Earnhardt

Paths to the Top

As Abbott's executive vice president since June of this year, Lisa Earnhardt helms the company’s global Medical Devices business, which comprises over 30,000 employees and generates over $12 billion in revenue. Abbott’s mission to advance medical technology to help people live better is as straightforward in its purpose as it is broad in its scope. A little daunting perhaps? Not for a trailblazer like Lisa, who has been solving problems and leading teams in MedTech for 25+ years. While some see challenges, Lisa sees opportunities.

 

Recently, Lisa sat down to speak with Tracy MacNeal, President and CEO of Materna Medical and national Chair for Advamed’s Women’s Executive Network.

They discussed Lisa’s passions for healthcare and technology, reflected on the challenges of learning a new role, courageous leadership and more.

 

Tracy: What is it like going from the world of med-tech ventures to a 130-year-old global healthcare company?

Lisa: Well first of all, Abbott may be 130 years old, but it is truly age defying. I was intrigued by how the company has transformed itself throughout its history to stay relevant to the needs of healthcare by continually reinventing itself. Yes, it’s a complex, global enterprise and there are necessary processes and procedures in place to manage it well … that’s part of what has made it so successful. My decision to join Abbott was based on the opportunity to create an even greater impact in healthcare – to build on a foundation of strength, to bring my dozen years of experience working for large companies in the cardiovascular space, and importantly, to leverage my learnings from the last decade working at a start-up.

 

Tracy: Can you tell me more about those learnings and how you are applying them at Abbott?

Lisa: In my previous start-up role, there were 13 of us initially, and we all did a little bit of everything. And while we grew eventually to a few hundred employees, there was still that “all hands on deck” attitude that is typical of start-ups. Of course, that would not be efficient or effective on a much larger and more complex scale. However, even in a large, complex organization, there is opportunity to have an entrepreneurial mindset and agility that allows for quick decision making. That’s more important today than ever in the fast-changing healthcare environment, where technology plays a powerful role in redefining how healthcare is delivered. The speed at which we innovate is directly related to the impact we can have for people to live better, healthier lives.

 

For example, Abbott has a device that serves as a wearable sensor for people with diabetes to continuously measure their glucose levels in real-time without the need for routine finger sticks. It’s a great example of a product that combines healthcare and technology to make a real difference in the lives of people with diabetes – and it puts consumer experience at the center of innovation. And, as we continue to explore ways to make products better and to apply technology in new ways, speed, agility and a keen focus on the end user are all-important. I’ve always surmised if you do what’s right for the patient and you do what’s right for the physician, the rest will follow.


Tracy: Where do you see the need for courage in our industry these days?
Lisa: Courage is more important than ever because of the rapid pace of change in healthcare. You need courage to make big, bold, calculated decisions and move forward in a mission-driven way. You need courage to lead your organizations to bring forward the kind of disruptive, life-changing technology that not only makes people healthier, but that is accessible and affordable and delivers meaningful value to the entire healthcare system. And that’s about more than technology itself, it’s also about driving new ways of thinking in all aspects of our work from go-to-market strategies to fundamentally rethinking our business models. It is an exciting time in medtech where courage (with a capital C!) is paramount.

 

     
portrait of Ayse McCracken

Connections

Connections spotlights the exciting contributions of women leaders in MedTech.

 

Established in 2017 by Ayse McCracken, Ignite Healthcare Network is a nonprofit organization bringing together women executives to generate ideas and solutions to impact the future of healthcare.


McCracken has worked as an executive for some of the country's most prominent healthcare systems. Her credentials also include serving as a senior executive for several venture-backed companies. With her unique combination of business credentials and healthcare industry knowledge, McCracken launched Ignite to help women leaders in healthcare challenge the status quo.

Ignite promotes the advancement of women executives through networking events, mentoring, and funding. Through its annual Fire Pitch competition, women-led digital health organizations have the chance to partner with potential customers and gain access to an eco-system of industry leaders, advisors and investors. Fire Pitch 2019 awarded 6 finalists over $422,000 in cash and investment prizes as well as pilot opportunities to accelerate the growth of their companies.

Ignite: Women Shaping the Future of Healthcare

Ignite will launch a call for submissions for women-led med device startups to the WEN list by the end of Q1 2020. Stay tuned for more information make sure to follow Ignite on their website.

Learn More
     

MedTech Conference Update from AdvaMed’s CFO and Executive Director of AdvaMed Advance, Jennifer Brearey

jen-brearey

We were excited to see many of you at the MedTech conference. For the past few years, we’ve been working to attract more women, people of color, LGBTQ+ community members, and other underrepresented populations to attend and speak at this premier industry event. And I am pleased to share that we have made progress on this front. The number one piece of feedback from registrants was that this year’s conference felt exceptionally inclusive. Below are some stats to highlight just a few of the factors that made the 2019 MedTech Conference stand out.

A very large village of leaders helped to bring these numbers to fruition, and I would like to thank all of them for their contributions. We hope to see you all again in Toronto in October 2020, so we can build on this great foundation. The call for submissions and Program Committee application are now open. The best way to keep our sessions diverse is to make sure your perspectives and thought leadership are driving session submissions. Please consider responding to the call!

 

2019 MedTech Conference Stats:

  • 96% of the 128 panels were gender diverse
  • An estimated 40% of the 3,300 executives in attendance were women - a 33% increase over last year.
  • AdvaMed honored its first women LIfetime Achievement Award recipient, Cathy Burzik
  • AdvaMed WEN moved the reception to the exhibit hall floor. Although we don’t have exact number of attendees, we estimate over 200 came by during the reception including 6 AdvaMed CEOs who spent time meeting our remarkable female leaders.
  • The annual MedTech Color breakfast doubled in size to 150 attendees versus the prior year.
  • AdvaMed hosted its first LGBTQ+ reception with over 60 attendees.
  • AdvaMed launched AdvaMed Advance - An initiative focused on convening the industry to unlock the power and potential of all talent. More to come on this in 2020. Check out our website and video which features our Inclusion and Diversity Board Chair, Martha Shadan and WEN chair, Tracy MacNeal.

View testimonials from the 2019 MedTech Conference.

     

Save the Date

June 2020: Women’s Executive Network Annual Conference

Submit your events to be featured in the next issue.

iStock-1061085192
     

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E-mail us at WEN@advamed.org or join our LinkedIn Group!

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