Jerry Sanders Case
Group Case: Jerry Sanders
X Cardia Corporation * Jerry sold his company, X Cardia Corporation, 10 months after founding it with partner, Ascher Shmulewitz, for 33 million (1997) * Jerry, President/CEO, started with 180,000 investment, lost half a million before selling company to UroHealth * Built company with assistance from prominent physicians, investors, professional service firms
San Francisco Science * After selling X Cardia, Jerry and partners Ascher Shmulewitz and Marguerite McHenry looked to replicate their success with the founding of a new company, San Francisco Science * San Fran Science would look to create value by connecting investors, physicians, financiers, and established medical device companies, banking on the fact that investors lacked business experience
Sanders MO/Early Career * Intense, “attention span of a nanosecond,” worked all day every day, dynamic, authentic, confident New Yorker, who grew up in Israel, served in special operations unit in Israeli Navy * Completed Queens night college in 18 months, taxi driver by day, acquired law degree in Texas, despite having no interest in being a lawyer * Leveraged background to sign on as international business advisor to the Israeli Prime Minister’s Office, where he negotiated business deals for 6 years, learning best practices-establishing rapport, understanding mindset of negotiating counterparty * According to Sanders- Don’t waste time arguing with someone that doesn’t have authority. Learn how to win them over. Ask for their help, and have them point you in the direction of someone who does have authority * 1989, married, looking to settle down, apply lessons learned to new field. Wife accepted to Standford University, so they moved to San Francisco, took to law to learn the lay of the land, looking for way out again, 6 months later- met Dr. Robert Shaw
The Shaw Group * Shaw was scientist-turned businessman, well known, prestigious pedigree,
X Cardia Corporation * Jerry sold his company, X Cardia Corporation, 10 months after founding it with partner, Ascher Shmulewitz, for 33 million (1997) * Jerry, President/CEO, started with 180,000 investment, lost half a million before selling company to UroHealth * Built company with assistance from prominent physicians, investors, professional service firms
San Francisco Science * After selling X Cardia, Jerry and partners Ascher Shmulewitz and Marguerite McHenry looked to replicate their success with the founding of a new company, San Francisco Science * San Fran Science would look to create value by connecting investors, physicians, financiers, and established medical device companies, banking on the fact that investors lacked business experience
Sanders MO/Early Career * Intense, “attention span of a nanosecond,” worked all day every day, dynamic, authentic, confident New Yorker, who grew up in Israel, served in special operations unit in Israeli Navy * Completed Queens night college in 18 months, taxi driver by day, acquired law degree in Texas, despite having no interest in being a lawyer * Leveraged background to sign on as international business advisor to the Israeli Prime Minister’s Office, where he negotiated business deals for 6 years, learning best practices-establishing rapport, understanding mindset of negotiating counterparty * According to Sanders- Don’t waste time arguing with someone that doesn’t have authority. Learn how to win them over. Ask for their help, and have them point you in the direction of someone who does have authority * 1989, married, looking to settle down, apply lessons learned to new field. Wife accepted to Standford University, so they moved to San Francisco, took to law to learn the lay of the land, looking for way out again, 6 months later- met Dr. Robert Shaw
The Shaw Group * Shaw was scientist-turned businessman, well known, prestigious pedigree,