Rick Randall’s initial foray into leading a Medtech company represented a bit of a fairy tale. But his next chapter – starting and leading spine company Trans1 – serves as a bit of a Medtech nightmare.
In part two of this interview, Randall walks us through the rise and fall of Trans1, the developer of a novel spine fusion approach that he brought from a one-person start-up to an emerging player in the competitive spine space.
Trans1’s fortunes changed drastically, however, when specialist societies took aim at the company’s reimbursement code, a chilling move that still can be felt in Medtech.
Randall also explains why he sees enormous opportunity for the robotic-assisted surgery upstart Omnilife Science and explains why he’s cheering for sector leader Stryker.
Rick Randall
CEO
Omnilife science
Mr. Richard D. Randall, also known as Rick, serves as the President at Omni Orthopaedics Inc. Mr. Randall served as the Chief Executive Officer of OMNI life science, Inc. since November 2014 until June 2, 2017. He served as the Chief Executive Officer of Medical Compression Systems (DBN) Ltd. He served as the Chairman and Chief Executive Officer of Avantis Medical Systems, Inc. from April 2011 to 2013. He has spent the last 30 years of his career developing and commercializing game-changing medical devices into the global healthcare market. He served as a Key Advisor of Affinergy, Inc. He served as the Chief Executive Officer of Baxano Surgical, Inc. from June 2002 to January 4, 2011. Prior to joining TranS1, he served as the Chief Executive Officer of Innovasive Devices, Inc. He served as the President and Chief Executive Officer of DePuy Mitek, Inc. from February 1994 to 2000. He served as the President of Baxano Surgical, Inc. since June 2002 to January 2010. He co-founded Incumed Inc. in 2000 and served as its President and Chief Executive Officer from June 2000 to June 2002. He Co-founded and served as the President and Chief Executive Officer of Conceptus, Inc. from December 1992 to July 1993 and Chief Financial Officer from December 1992 to January 1995. He co-founded Cardima, Inc. He served as the President and Chief Executive Officer of Target Therapeutics Inc. (“Target”) from June 1989 to May 1993. Prior to joining Target Therapeutics, he served in various capacities with Trimedyne Inc., a cardiovascular laser company, Baxter and the U.S.C.I. Division of C.R. Bard Inc. He serves as the Chairman of the Board of Directors of IncuMED, LLC. He has been the Chairman and Director of NovoStent Corporation since June 2, 2011. He served as an Executive Chairman of Baxano Surgical, Inc. since January 4, 2011. He served as the Chairman of the Board of Directors of Conceptus Inc. He served as the Chairman of Target Therapeutics, Inc. from June 1989 to April 1997. He serves as a Director of AbbeyMoor Medical., Omni Orthopaedics Inc. and Neuro Navigational Corporation. He has been Director of DePuy Mitek Inc. since February 1994 and Tissuelink Medical Inc., since March 2006, Micro Therapeutics Inc., since July 2002. He serves as Member of Compensation Committee and Member of Special Independent Committee for Micro Therapeutics Inc. He served as a Director of Baxano Surgical, Inc. from June 2002 to March 2013. He served as a Director of MicroVention Inc. and Urologix Inc. He served as a Director of Avantis Medical Systems, Inc. since April 2011, Endocardial Solutions Inc. since February 2000, Salient Surgical Technologies, Inc., since 2005, Target Therapeutics, Inc. from June 1989 to April 1997 and Conceptus, Inc. from December 1992 to October 2003. Mr. Randall holds a Bachelor of Science in Biology and Science Education from State University of New York at Buffalo.
