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Finance I: Pam Randhawa

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Information about Finance I: Pam Randhawa

Published on November 21, 2008

Author: lpnoonan

Source: slideshare.net

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Pam Randhawa VP, Strategic Development Sermo Fulfilling Your Wildest Dreams: Sermo Case Study Discussion with TiE Young Entrepreneurs

Introductions My journey and contribution to the industry Lessons I’ve learned along the way My endeavors at Sermo Open discussion Today’s Discussion

Introductions

My journey and contribution to the industry

Lessons I’ve learned along the way

My endeavors at Sermo

Open discussion

Over 15 years of experience in the healthcare and pharmaceutical high-tech industries Specialized knowledge of new market development, strategic planning, product management and marketing, analytics Positions held: VP, Strategic Development, Sermo, Inc. Vice President of Marketing, Phase Forward Director of Product Development, InfoMedics Director of Analytic Development, McKesson Corporation Consultant for the MEDSTAT Group (Thomson Reuters) Healthcare Policy Consultant, State of Ohio, Department of Health Advisory Boards: Strategic Advisor, GlobalCures Strategic Advisor, Cognika My Background

Over 15 years of experience in the healthcare and pharmaceutical high-tech industries

Specialized knowledge of new market development, strategic planning, product management and marketing, analytics

Positions held:

VP, Strategic Development, Sermo, Inc.

Vice President of Marketing, Phase Forward

Director of Product Development, InfoMedics

Director of Analytic Development, McKesson Corporation

Consultant for the MEDSTAT Group (Thomson Reuters)

Healthcare Policy Consultant, State of Ohio, Department of Health

Advisory Boards:

Strategic Advisor, GlobalCures

Strategic Advisor, Cognika

Key Ingredients for Success Great People Great Products Great Business Model Great Plan $$$ Luck

The Story of Sermo ™ Where the idea began: The idea behind Sermo™ was inspired by Dr. Daniel Palestrant in the spring of 2005 while he was a surgical resident in Boston. In conversations with colleagues, he observed that they’d see something or have an “inkling” about it long before it showed up in medical journals. This started him wondering if those insights could be captured and shared amongst doctors nationwide via a virtual “doctor’s lounge.” How the idea became a reality: Daniel knew the real issue was developing a business model that would be acceptable to physicians (no membership fees or advertising). Daniel realized that the online community could be designed using innovative technology that authenticates and credentials physicians in real-time. Daniel filed several patents to protect his idea. Daniel named the company Sermo which means “conversation” in Latin. When the company was launched: September 2006 (www.sermo.com)

Where the idea began:

The idea behind Sermo™ was inspired by Dr. Daniel Palestrant in the spring of 2005 while he was a surgical resident in Boston.

In conversations with colleagues, he observed that they’d see something or have an “inkling” about it long before it showed up in medical journals.

This started him wondering if those insights could be captured and shared amongst doctors nationwide via a virtual “doctor’s lounge.”

How the idea became a reality:

Daniel knew the real issue was developing a business model that would be acceptable to physicians (no membership fees or advertising).

Daniel realized that the online community could be designed using innovative technology that authenticates and credentials physicians in real-time.

Daniel filed several patents to protect his idea.

Daniel named the company Sermo which means “conversation” in Latin.

When the company was launched:

September 2006 (www.sermo.com)

Funding History Series A: December 2005, Longworth Ventures $2MM Investment Series B: January 2007, Softbank Ventures $9MM Investment Series C: August 2007, Legg-Mason with Allen & Co. $26.7MM Investment

Series A: December 2005, Longworth Ventures

$2MM Investment

Series B: January 2007, Softbank Ventures

$9MM Investment

Series C: August 2007, Legg-Mason with Allen & Co.

$26.7MM Investment

Time Activity The “Arc” of Communities

War, Peace or Harmony Facebook Beacon In Harmony In Conflict Neutral MySpace Friendster Linked-In Sermo AlphaMD Sermo Learn Threadless Sermo Earn c 1996-2003 Ebay

What is Sermo? The largest online physician’s community in the U.S. Almost 100,000 physician members 30,000 separate discussions 3,000,000 insights to date Sermo means “conversation” in Latin.

The largest online physician’s community in the U.S.

Almost 100,000 physician members

30,000 separate discussions

3,000,000 insights to date

Sermo Business Model Outsiders access physician discussions through: Physicians collaborate on challenging patient cases, share observations and compare insights Insights Monitoring Engagement

What Happens On Sermo?

The ‘Anti-Arc” Observational data Hotspots: Learn Hotspots: Earn New pharma interactions Jobs Board recreational vocational want need The “Early Days of Sermo” “ The Danger Zone” Financial Industry (Bloomberg) New peer-reviewed data Clinical Trials Discuss on Sermo Addressing MD Critical Needs

Sermo’s Extended Value Proposition Today’s consumers are taking more active role in their health. Existing relationships with physicians becomes strongest driver to engage with patients. Technology enables more proactive and personalized interaction between physicians and patients. Enable pharma to leverage the Sermo physician community and technology platform to open a new communication channel with patients.

Today’s consumers are taking more active role in their health.

Existing relationships with physicians becomes strongest driver to engage with patients.

Technology enables more proactive and personalized interaction between physicians and patients.

Strong management team/leadership Shared vision and common goals Industry/domain expertise Focus on core competencies Motivated employee base Passionate employees Collaborative environment Healthy balance between creativity, innovation and execution Building a Strong Team: What Does It Take?

Strong management team/leadership

Shared vision and common goals

Industry/domain expertise

Focus on core competencies

Motivated employee base

Passionate employees

Collaborative environment

Healthy balance between creativity, innovation and execution

Sermo Today

A Typical Day at Sermo

Summary: Entrepreneurship is Humbling

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