VP, Business Development
Job Description Summary
General Purpose Summary:
BD is a global leader in the industry of medical devices and technology. The BD Medication Management Solutions (MMS) Business Unit is a $2.5B unit within BD which creates and delivers solutions for end to end medication safety, inventory optimization, and clinician efficiency across the care continuum. Key brands include BD Pyxis™, BD Alaris™, and BD HealthSight™
The VP, Strategic Innovation and Business Development position is a Sr. Leadership level role within BD MMS located in San Diego and reports directly to the WW President of MMS. This is a key role responsible for identifying, assessing, and conducting diligence on new business opportunities that are in line with the overall business and strategic growth objectives for the WWBU. The leader of strategic innovation and business development works collaboratively with other internal functions to build unique and compelling growth strategies based on deep understanding of customer needs and market trends. Additionally, this position will be accountable for a team dedicated to assessment of market potential, financial viability, technical relevance and proprietary and legal implications, of all potential new business opportunities. Furthermore, they lead a team responsible for completing financial models, preparing and presenting opportunities to senior leaders, due diligence of targets, and integration activities.
Essential Job Functions/Requirements:
Lead a world-class business development function aligned with the WW President’s vision for the business and BD’s overall business objectives. This will entail the responsibility to identify and evaluate acquisition, partnership and licensing opportunities for products and technologies. Partners with the WW President and key Leadership Team members to define spaces of interest for inorganic growth. Work closely with R&D leader on Portfolio strategy of the BU and identify strategic inorganic and organic investments to drive innovation. Within the selected spaces, develops a funnel of inorganic opportunities (including tuck in acquisitions, technology platforms, partnership opportunities) through building out a network (industry conferences, trade shows, meetings with bankers, relevant companies, etc.) within the relevant spaces Conduct and lead financial analysis and market research activities to assess financial viability of target, evaluate market potential, differentiating technology and product leadership that will generate targeted revenue. Drives due diligence activities in the areas of IP, probability of technical and regulatory success, and other key factors. Prepares and presents new business opportunities to senior leaders that include detailed financial analysis, market opportunity, revenue potential, IP, and technological assessment. Partners with enterprise Corporate Development to develop and negotiate term-sheets and provides solutions to reach agreement on deal terms. Partners with enterprise Corporate Development to organize and coordinate cross-functional due diligence teams and works closely with other functional groups to complete detailed due diligence, acquisition and integration activities. Hire, develop, and mentor staff through alignment of objectives, coaching, providing challenging assignments, and ongoing feedback on progress to ensure support and achievement of critical success factors.
Education and Qualifications Required:
Bachelor’s degree in sciences/ engineering. Advanced degree (MBA, Master’s) preferred. Prior experience (10+ years) in strategy/business development roles in medtech in companies with revenues of >$1B. Prior experience in top tier management consulting firms or investment banking is a plus. Proven experience in developing new inorganic growth vectors for businesses. Experience in closing deals in the medtech industry in excess of $50 to $100+ million dollars is preferred. Prior experience in medical technology, including systems and solutions comprising of consumables, software, hardware, and information technology considered a plus. Thorough understanding of FDA regulations within the U.S. in addition to global laws and regulations related to IP and legal implications with acquisitions of technology, products or companies.
Additional Skills and Competencies Required:
True North Ethical Compass Commitment to both Excellence and Continuous Improvement Humility combined with Leadership Courage Strong presentation skills and ability to present material and complex matters in a succinct and organized manner Ability to think critically in tactical and strategic dimensions simultaneously. Demonstrated ability to effectively work across various functions in order to ensure deliverables are met against required timelines. Ability to prioritize tasks in real time and exercise judgment in high-stakes environment. Ability to quickly establish credibility, trust and support with both internal and external constituents. Demonstrated ability to hire, develop, and manage employees. Strong ability to communicate effectively with leaders at the most senior levels within the corporation. Strong quantitative, modeling and negotiations skills and experience. Ability to interface effectively with all levels and functions both inside and outside of the organization
Primary Work LocationUSA CA - San Diego TC Bldg C&D
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