How 3 CEOs Turned Their Vision Into a Public Company
Inc. | Peter Cohan
March 4, 2021
Some leaders envision a future that can only be realized through cooperation of an entire business ecosystem.
If you aspire to transform the health care industry, you realize that you can’t make progress unless you give all the key participants — e.g., health care providers, health maintenance organizations, insurance companies, doctors, and patients — a compelling reason to change what they are doing along the lines you envision.
That’s what Quanterix, a publicly traded Billerica, Massachusetts-based life sciences company, is trying to do. As CEO Kevin Hrusovsky explained in a February 16 interview, his vision is to power precision health by detecting diseases — such as Covid-19 — before patients are symptomatic through its Simoa technology that measures protein biomarkers conventional approaches don’t detect.
Quanterix has turned this vision into a real business. Its shares have increased 253 percent, to nearly $76 a share, since its December 2018 IPO — valuing the company at $2.4 billion. What’s more, over the past three years, Quanterix’s revenue has grown at a nearly 48 percent average rate to $76 million in the past 12 months, according to Morningstar.
To realize his vision, Hrusovsky needed to galvanize many of the health care industry participants described above. The way he did it can be useful to business leaders. Here’s how:
- Articulate a greater purpose such as reducing cancer, Alzheimer’s, or Covid-19.
- Build an ecosystem that shares this greater purpose.
- Minimize pettiness by leading the ecosystem through a culture based on accountability, trust, teamwork, and transparency.
- Agree on a strategic road map.
- Set clear expectations, communicate progress, and adapt.
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