May 13, 2024
Show Notes:
Dennis Crowley started working for Tyco International in 1996 and spent five years in Europe, spending half his time in Paris and two and a half years in Brussels. This experience was enjoyable as it allowed him to work, sightsee, and travel around Europe. During his time in Europe, he had the opportunity to visit every country in Europe, including Spain, Italy, the UK, and France. He moved back to Florida, then lived in New England for 25 years before settling just south of Boston. Dennis worked in various divisions at Tyco until 2007, where he worked in their healthcare group, which spun off into Covidien. He spent 12 years doing mergers and acquisitions, and this experience opened his eyes to the exciting developments in the healthcare space, particularly in medical devices.
Lifestyle in the US vs. Europe
Dennis compares the pace of life in the US and Europe. In the US, you can get what you want when you want it, but, for example, In Paris most shops are usually closed on Sunday. The cultural norms that may not be easily understood by someone new to the country. Dennis shares a few examples of cultural differences in the workplace. Working in Europe can be a transition from class to a job, but it also presents challenges. For example, Italian culture is different from French culture, and while many people may speak multiple languages, to communicate effectively, one must be respectful of their second language and be able to express ideas in clear and appropriate ways.
Medical Devices in the Healthcare Industry
Dennis finds this field to be an interesting one as there are always problems to be solved and technologies to be developed. In terms of medical devices, the majority of medical devices have been based around surgical procedures, such as abdominal, cardiac, and peripheral surgeries. These opportunities are often focused on general surgery, such as fixing clots, repairing hernias, and C sections. Interaction with physicians and leaders in their field helps in finding companies to build portfolios for a company. He highlights the role of physicians as advisors who often collaborate with engineers and industry professionals to develop new products and address gaps. This collaboration is crucial for addressing the needs of patients and improving efficiency in the healthcare system. Dennis also talks about recent breakthroughs and innovations. He stresses the importance of having a community of physicians who can help address their needs in the marketplace, and emphasizes the need for companies to have a strong network of physicians who can help develop innovative products that address the needs of their patients and improve the overall quality of care.
Mergers and Acquisitions in the Health Industry
Dennis highlights the importance of understanding the business and aligning with the company's vision. He discusses the potential of acquiring companies and their trials, such as Given Imaging, which uses a pill cam to take multiple pictures at once. This technology is used for diagnosing bleeding or other issues in the gastrointestinal tract. It is also an alternative to colonoscopy. Dennis explains that an M&A executive spends most of their time analyzing deals and negotiating them, while also working with the company to understand its business, technologies, and strategies. He mentions that there is also a lot of time spent networking and explains how former classmates and friends had played a role in both his business and personal relationships.
Influential Harvard Professors and Courses
The conversation turns to Harvard and golf as Dennis talks about his time on the golf team and that he is still in touch with friends made while on the team. He shares how playing golf has facilitated both business and personal relationships. He also discusses the current etiquette around smartphones on the golf course.
Timestamps:
Links:
https://www.linkedin.com/in/dennis-crowley-8130a44/
Featured Non-profit
The featured non-profit of this episode is Protect Democracy, recommended by Richard Primus, who reports “Hi, I'm Richard Primus from the class of 1992. The featured nonprofit organization of this episode of the 92 Report, is Protect Democracy. Protect Democracy uses the tools of law and communications to protect the rule of law and constitutional democracy in the United States, at a time when those things are in greater jeopardy than we would have dreamed possible when we graduated from college. I'm proud to have worked with Protect Democracy on a volunteer basis, since it was founded a little more than seven years ago, and also to be a member of its board of advisors, which includes a wonderful group of people.”
To learn more about their work, visit https://protectdemocracy.org.