279. Ray Cohen on Building & Selling Billion-Dollar MedTech Startups Without Bankers

Episode breakdown:00:00 – Intro: Ray Cohen’s MedTech Resume 02:21 – 44 Years, 0 BigCo Jobs: Ray’s Founding Philosophy 05:04 – How He Closed a $600M Deal Without an Investment Banker 08:05 – Why Relationships Matter More Than Bankers in M&A 11:19 – When Is the Right Time to Sell a MedTech Company? 13:44 – Why He Took Axonics Public *Before* FDA Approval 15:53 – $111M in Year 1 During COVID — How They Pulled It Off 17:42 – Why Most Commercialization Efforts Fail 19:19 – $230M IPO: How He Built the Case for Kestra’s Public Debut 22:36 – Turning Venture Dollars into a $1.2B Public Company 24:02 – The Founder’s Trap: Pivot or Persevere? 27:57 – How to Work with Strategics Without Giving Away the Deal 29:37 – Loyalty, Teams & Why Integrity Still Wins in MedTech 34:12 – Stop Worrying About Dilution. Raise More Than You Need. 35:43 – The $30M Fight Against Medtronic — And Why They Won 38:23 – The American Dream is Still Alive in MedTech Don’t Let Cybersecurity Risks Delay Your Medical Device Premarket Approval. Check out BlueGoatCyber.comAre you a medtech CEO in need of some marketing help attracting investors, growing sales pipeline, and more? Go to GrowMyMedtech.com to book time for a free analysis.Subscribe to our Youtube Channelhttps://www.youtube.com/channel/UCGpL_rGt1LQJwinMq_K7gfgSubscribe to our LinkedIn Newsletterhttps://www.stateofmedtechpodcast.com/Follow The State of MedTech onLinkedIn https://www.linkedin.com/company/thestateofmedtechInstagram https://www.instagram.com/stateofmedtech/TikTok https://www.tiktok.com/@stateofmedtechX https://twitter.com/StateofMedTechFacebook https://www.facebook.com/stateofmedtech/Follow Omar M. Khateeb onLinkedIn https://www.linkedin.com/in/okhateeb/Instagram https://www.instagram.com/omar.m.khateeb/TikTok https://www.tiktok.com/@omarkhateebofficialX https://twitter.com/OmarMKhateebFacebook https://www.facebook.com/OmarMKhateeb/This podcast is for informational and educational purposes only and does not constitute financial, investment, legal, or medical advice. The views and opinions expressed by hosts and guests are their own and do not necessarily reflect those of State of MedTech LLC. Nothing discussed on this podcast should be interpreted as a recommendation to buy, sell, or hold any investment or security. Listeners should conduct their own due diligence and consult with a qualified financial advisor, attorney, or other professional before making any financial or investment decisions.