When One Door Closes Another Door Opens: The Story of Telluride Medical Partners
By Kayleen Brown, Vice President Commercial Development, MedTech Strategist
Meet Eric Wells. Eric is Founder and CEO of Telluride Medical Partners LLC (TMP), an Arizona-based medical device accelerator comprised of business entrepreneurs, medical device start-up experts, and medtech engineers who are committed to bringing disruptive technologies to market.
Eric’s entrance into medtech came after a career far away from the healthcare universe. He followed in his father’s footsteps and dedicated the majority of his professional career to real estate development. The only unsurprising part of his pilgrimage was that his real estate success enabled him to retire at the enviable age of 44. Eventually it was a combination of boredom and a “mid-life crisis that led me to medical devices,” Eric explains. After a brief retirement and a very timely conversation, Eric decided to re-enter the working world through an entirely different door. “My Dad had died of an AMI when I was 25,” starts Eric, and when “an interventional radiologist pitched me on this cardiovascular device that was going to help heart attack patients... I thought ‘Hey, here's maybe an opportunity to do something.’” And ‘do something,’ he certainly did.
After that first investment, Eric was asked to take over another company. “After we got two of them, I got a call from an investment banker who was involved… and he asked if we had room for a third,” continues Eric. “So, we built a little team, you know, engineers, regulatory people, a finance group, and decided to operate all of these companies with that core management team.” As a result, Telluride Medical Partners was constructed and ultimately welcomed into the home of the world’s largest healthcare company: Johnson & Johnson.
With a focus on early-stage companies and 65 years of combined business management and biotech and device experience, the TMP team is able to unite technical knowledge, upstream market identification, monetization strategies, and proven execution toward the development and growth of novel medical devices. This unique approach to accelerating medical technologies caught the attention of Johnson & Johnson; and in early 2018 Telluride Medical Partners became a distinguished resident of Johnson & Johnson Innovation, JLABS (JLABS @TMC), located at the largest medical center in the world: Texas Medical Center. TMP and JLABS @ TMC share the same ultimate vision: they aim to empower and enable innovators to deliver life-enhancing health and wellness solutions to people around the globe. Now, TMP has five innovative early-stage medical devices and technologies, and with JLABS @ TMC’s support, that is hopefully only the beginning. Seems like Eric won’t be bored any time soon.
From all of us at MedTech Strategist, we offer Eric, and the Telluride Medical Partners team, congratulations and continued success!
WATCH THE SHORT, 11-MIN VIDEO INTERVIEW ABOVE TO LEARN MORE ABOUT ERIC, AND HOW TELLURIDE MEDICAL PARTNERS (TMP) IS MAKING AN IMPACT ON THE HEALTHCARE INDUSTRY BY BRINGING DISRUPTIVE TECHNOLOGIES TO MARKET.
About JLABS @ TMC: JLABS @ TMC is a 34,000 square-foot life science innovation center located at the Texas Medical Center in Houston, TX. The labs provide a flexible environment for startup companies pursuing new technologies and aiming to research platforms to advance medical care. Through a "no strings attached" model, Johnson & Johnson Innovation, JLABS does not take an equity stake in or IP from the companies occupying JLABS and the companies are free to develop medical devices either on their own, or, by initiating a separate external partnership with Johnson & Johnson Innovation or any other company.
Have comments on this post, or suggestions for topics you’d like us to cover in the Community Blog? Email us: firstname.lastname@example.org.
Further Reading in MedTech Strategist:
Start-Ups in Depth: “EVAR — Aortica: Taking Aim at Complex EVAR with a Novel Endograft Fenestration Technology,” by Mary Thompson
Innovation — “Rainbow Medical: Building an Incubator for the Long Haul,” by David Cassak
Investing: “TheraNova — Using Creative Financing to Drive an Incubator,” by Stephen Levin
“Digital Innovation: Consumer Activation Comes of Age in Medtech,” by Ajay Gupta, Karen Passmore, Sundar Ganapathy, and Chris Smith
“ResMed: Using Digital Health to Fuel a Medtech Growth Strategy,” by Mary Stuart
Start-Ups to Watch: “Appian Medical: Simplicity in Sleep Testing,” by Mary Stuart
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