The primary responsibility of this position is to directly support the mission of Mayo Clinic Business Development by driving licensing and commercialization activities for a portfolio of technologies, including medical devices. The Manager will serve as an individual contributor responsible for assessing opportunities, developing licensing strategies, sourcing and engaging industry partners, and leading the negotiation and execution of licensing and related agreements. This role includes managing external partner relationships, advancing transactions from evaluation through execution, and managing multiple opportunities concurrently.
Business Development is organized around three functional Work Units. This Manager role is part of the Commercialization Work Unit and will work collaboratively with colleagues in all three Work Units:
• Commercialization - Evaluate the commercial potential of a variety of medical inventions and discoveries coming from Mayo's clinical and research activities, developing and implementing technology sales and marketing plans, managing the patent process, identifying potential commercial partners, negotiating license agreements and other commercialization arrangements, managing relationships with industry and advising Mayo physicians and scientists regarding protection of intellectual property and technology-based business matters.
• Technology Development - Identify, evaluate, and support the development and protection of new technologies and intellectual property arising from Mayo Clinic’s research and clinical activities.
• Partnerships - Source, evaluate, and develop new business opportunities for Mayo Clinic, including partnerships, collaborations and other strategic transactions.
Based on the needs of the department, positions will also be primarily assigned to one or more Work Teams, each focusing in a specific area: Medical Devices, Health IT & AI, Health Services & Robotics, Diagnostics or Biopharmaceuticals. Projects/ opportunities are categorized within one of these six areas, and staff are attached to each project accordingly. This posted role will be initially focused within the Medical Devices and one other team, and may also be required from time to time to assist with work centered in one of the other focus areas.
This role is not remote relative to location, with an expectation that the incumbent will live within reasonable driving distance of a Mayo Clinic campus, and will be able to be on campus – on average – two to three days per week. Mayo Clinic has four locations which are considered “on campus” for in-person purposes: our main presence in Rochester, MN; a satellite office in Eagan, MN, which is a suburb of Minneapolis/St. Paul; our campus in Jacksonville, FL; and our campus in Phoenix, AZ. The successful candidate will need to commit to being able to be in-person at one of these campuses as per our expectations.
Must have the ability to perform successfully in a business development/ technology commercialization role, and to navigate required complex inter- and intra-organizational issues and relationships. Must possess excellent verbal and written communication skills with the ability to interact with a variety of different people with diverse backgrounds. Requires strong project management skills and time management skills and the ability to manage several initiatives simultaneously. Must have entrepreneurial/intrapreneurial qualities. Must possess strong analytical skills, be resourceful, and be able to work independently on assigned projects.
Additional Skills & Qualifications
Preferred skills include: relationship and deal sourcing, business plan creation, concept analysis, business model development, financial pro-forma development and analysis, and business principles.
In addition, extra consideration may be given to applicants with skills/experience in due diligence, market research, marketing plan development, legal/regulatory issues assessment, monitoring product/operating unit performance, technical sales, evaluation of medical technologies, negotiations, contract drafting, evaluation of scientific and commercialization potential of cutting-edge technologies, and knowledge of science, clinical or bench research, laws and regulations that relate to the patenting and licensing of inventions.
Experience working with an organization or in a role directly related to Healthcare IT, AI, and/or Medical Devices will be given special consideration.
Additional consideration may be given for: experience with an academic medical center or equivalent setting; mergers and acquisition experience; financial modeling and analytical valuation experience; Chartered Financial Analyst certification, (complete or in progress); experience with a national consulting firm in related functional areas or industries.
Why Mayo Clinic
Mayo Clinic is top-ranked in more specialties than any other care provider according to U.S. News & World Report. As we work together to put the needs of the patient first, we are also dedicated to our employees, investing in competitive compensation and comprehensive benefit plans – to take care of you and your family, now and in the future. And with continuing education and advancement opportunities at every turn, you can build a long, successful career with Mayo Clinic.
Benefits Highlights
Mayo Clinic has expanded and changed in many ways, but our values remain true to the vision of our founders. Our primary value – The needs of the patient come first – guides our plans and decisions as we create the future of health care. Join us and you'll find a culture of teamwork, professionalism and mutual respect, and most importantly, a life-changing career.
Mayo Clinic was founded in Rochester, Minnesota by brothers Dr. William James Mayo and Dr. Charles Horace Mayo. More than 100 years later, their vision continues to evolve around a single guiding value: "The needs of the patient come first." Today we are the largest integrated, not for-profit medical group practice in the world.
We are recognized for high-quality patient care more than any other academic medical center in the nation. These endorsements are very gratifying, but also humbling. They remind us of the tradition that has been entrusted to each one of us, and the legacy of excellence that we uphold every day.
