August 5, 2024
In this episode of our podcast, we are joined by Dr. Neel Patel, a visionary entrepreneur, co-founder, and CEO of ZiO Health. Dr. Patel shares his inspiring journey from practicing medicine to becoming a leading innovator in the healthcare technology sector, driven by a mission to improve patient care through advanced diagnostic solutions.
Bridging Medicine and Technology
Dr. Patel’s journey began in the world of medicine, where he encountered firsthand the inefficiencies and delays in lab testing and patient treatment. Frustrated by these challenges, he decided to transition into entrepreneurship, aiming to bring lab testing directly to the point of care. His clinical insights revealed the critical need for immediate and accurate diagnostic results, leading him to focus on developing a portable therapeutic drug monitoring device.
Finding the Right Co-Founder
Recognizing the technological gaps in his vision, Dr. Patel pursued an MBA and actively networked at events in London and Oxford to find a co-founder with the necessary technical expertise and passion for innovation. His efforts paid off when he met an individual who not only shared his drive but also conducted significant research to develop their device. This partnership was instrumental in assembling a dedicated team that could bring their vision to life.
Navigating Early Challenges
Dr. Patel emphasizes the importance of understanding the entire pathway from pre-seed to Series A funding in the medtech industry. He discusses the unique challenges of securing regulatory approval and reimbursement, which are crucial for the success of any medical device. Early engagement with the FDA and meticulous planning for funding and regulatory milestones were key strategies that helped his startup navigate these hurdles.
Building a Collaborative Culture
In building his team, Dr. Patel focused on hiring individuals who shared his commitment to innovation and collaboration. He believes in empowering his team with the resources and trust they need to excel, fostering a culture of mutual respect and shared goals. This collaborative approach not only drives the company’s progress but also ensures a supportive environment for new team members.
The Road Ahead
Looking to the future, Dr. Patel is excited about the potential applications of their technology beyond therapeutic drug monitoring. He envisions expanding into areas like biomarker detection and water quality testing, ultimately aiming to have their device in every home for comprehensive health monitoring. Additionally, his passion for mentoring and investing in other startups reflects his commitment to fostering innovation across the healthcare industry.
Dr. Patel’s journey from medicine to medtech exemplifies the power of combining clinical insights with technological innovation to create impactful solutions. His dedication to improving patient care and his proactive approach to overcoming challenges offer valuable lessons for aspiring entrepreneurs in the healthcare sector.
About this Guest
Dr. Neel Patel is the co founder and CEO of Zio Health, a medtech company based in London, UK. After a career of being a physician, he stated ZiO Health and worked towards a shared goal with his team: bringing hospital-grade lab testing to the point-of-use, enhancing accessibility to molecular testing and optimizing health and sickness prevention. More specifically, they have developed a point-of-care therapeutic drug monitoring device which measures medication concentration levels to improve drug treatment outcomes.
Dr. Patel is also a Partner at HealthTech Investors, an angel syndicate that invests in founders working on the best solutions in improving healthcare.
Dr. Vincent Keereman is the Chief Medical Officer and co-founder of Xeos, a medtech company with the goal to eliminate the risk of resurgery through smarter specimen imaging.
This podcast episode features a conversation with Mark Christopherson. Mark Christopherson brings over three decades of expertise to the forefront of the medical device industry, with pivotal roles at Medtronic and leadership in venture-backed startups. Mark’s track record includes foundational roles at Inspire Medical and Cryosa, where he was instrumental from the startup phase through commercialization.
Lisa is a Professor of Practice in the Department of Biomedical Engineering and Director of Biomechanics Research at the University of South Dakota. With a career spanning academia and applied science, she explores the complexities of human movement to optimize performance, reduce injury risks, and enhance rehabilitation. Her interdisciplinary approach involves collaborations across medicine, kinesiology, therapy, psychology, and computer science. Previously, she led the Sanford Sports Science Institute and now focuses on integrating AI and computer vision into biomechanics, making advanced motion-capture technology more accessible. Dr. MacFadden is also dedicated to STEM outreach, inspiring students to pursue careers in biomechanics through initiatives like the Biomechanics Initiative. Today, her work continues to advance the field, combining advanced technology with a passion for teaching and mentoring.
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