Wallace Still Sees Opportunity for Intersect, Others in Medtech
George Wallace says his
Intersect incubator created 13 companies over 20 years, and exited eight of them.
That’s a pretty good batting average.
“Not bad, some of those exits were better than others,” he says.
But innovators like Wallace continue to innovate, not only with technology but also with finding new ways to create meaningful Medtech companies.
For example, Wallace says Intersect anticipates spending a lot of time in the vascular space. He adds that Intersect is in the process of rolling up “several” companies in that sector. “It’s a pretty comprehensive job and that is going to take over the bulk of our activities over the next two years,” he says.
He’s also learning new ways to raise capital.
Micro Therapeutics Inc., for example, raised capital from many different sources including public offering and venture capital.
Now, Wallace says, he’s looking at corporates, OUS investors, and other new sources. Listen to this interview to learn where he’s finding success.
What are the challenges to finding capital from alternative sources? Wallace notes that each investor presents their own unique perspectives and questions.
“I’ve always looked at each individual investor as their own entity,” he says. “Each VC has their own criteria of why they are going to make an investment and why they’re not going to make an investment.”
George Wallace
Partner
Intersect Partners
Intersect Partners was formed as a research and investment vehicle dedicated to research and development for medical device companies focused on solutions to large and unmet medical needs. Many of the companies were initially funded by SV Life Sciences, where Mr. Wallace held an advisory role as, Venture Partner. Mr. Wallace and Dr. Cragg formed and managed all of the companies they initially founded.
George was CEO of all of the Companies started by Intersect Partners and he has worked for Applied Medical Resources where he was General Manager of the Applied Vascular and Urology Divisions. He served as Vice President of Marketing and Sales for Vaser Inc. and held various positions in Sales & Marketing at Edwards Laboratories, a division of American Hospital Supply, later Baxter International and now Edwards Lifesciences. George has a BS in Marketing from Arizona State University.