Digital Health and Innovation: From Lab to IPO
Wednesday, October 19, 2022
4:00 PM-5:30 PM
BIOMED Hybrid Seminar
CLICK HERE TO ATTEND VIA ZOOM
Digital Health and Innovation – From Lab to IPO
Jiwu Zhang, PhD
Founder and Lead Director, TeraHealth Investment
Founder and Chairman, Sunhealth Digital Health
Founder and Chairman, EZ Lab LLC
Visiting Professor, Drexel University
Adjunct Professor, Oakland University
The biggest contemporary problem of our healthcare system is that we are spending more and more money while the life expectancy does not increase proportionally. Multiple studies have shown that the U.S. spends more per capita on health care than any country in the world, yet it ranks poorly on health care access and outcomes compared to other high-income countries. Clearly, progress is needed so that more people can achieve better health. (Brookings)
Digital health in today, just like the steam engine to Industrial Revolution in 17th, is the driver of the next revolution in healthcare rather than mere tool. Digital health is enabling the transition from medical to health-centered health system. It is thus used to improve health outcomes and equity.
Health technology innovation and emerging healthcare solutions are poised (as a cornerstone of digital health) to affect this fundamental change. This transformation is achievable by directing scientific and engineering research target societal needs or problems.
There are many factors that influence successful commercialization. A primary condition is to correctly address customer requirements. Major questions that need to be addressed are identification of customer needs and determination of the specific requirements. Traditional researchers are not often familiar with the required market analysis.
While developing a specific solution that presents technical difficulty and commercialization challenges, it is critical to be embedded in an effective innovation ecosystem. As a technology reaches the end-user, its usability creates greatest customer value.
Dr. Zhang has a proven track record of more than 23 years in the field of digital health and medical technology and product development as a scientific researcher, innovator, entrepreneur, and investor that spanned academia and industry. In this seminar, he will share his knowledge, expertise, and experiences to address the questions raised above.
Jiwu Zhang, PhD, is renown as a successful entrepreneur with strong a academic background in biomedical engineering. He gained extensive experience in the field of medical technologies and digital health across both academia and industry.
Dr. Zhang is currently an investor and founder of a number of of digital health and deep medtech companies in US, Canada and China. From 2013 to 2020, he was the founder and CEO of Meehealth, a successful digital health company that became the top clinical information system provider in Chinese healthcare market. He developed strategic partnerships with companies and hospitals, including the Mayo Clinic in Rochester, Minnesota. He successfully exited when the company was acquired by a listed company.
Previously, Dr. Zhang served as the general manager of global R&D center for Carestream (formerly Kodak Health Group) for 10 years. He founded the global R&D center and led its evolution to a center of excellence for Carestream. He grew the R&D team to around 400 engineers, leading 46% of Carestream global R&D team.
Dr. Zhang’s professional career began in 1998, as the CTO of NEUSoft digital medical system Co. Ltd. (the first listed medtech company in Shanghai exchange market). During this period, the product line of NEUSoft doubled every year. The revenue of company grew 100% every year.
Throughout his career, Dr. Zhang kept his interests and connection with academia. He was associate professor at Northeastern University, China, and a Professor in the Chinese Academy of Sciences. In addition, he served as an adjunct professor of Shanghai Jiaotong University and Beijing University. He is currently an adjunct professor at Oakland University and visiting professor at Drexel University. He is dedicated to coaching and supporting deep medtech commercialization in universities.
Dr. Zhang is passionate about translation of scientific research results and discoveries into commercialized healthcare solutions. He is committed to extract scientific questions from customer journey and to determine requirements that inform the scientific research effort to align with the business use cases.
Papadakis Integrated Sciences Building (PISB), Room 120, located on the northeast corner of 33rd and Chestnut Streets. Also on Zoom.