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Founder of Globus Medical, David Paul, visits campus to be featured in the Innovation Leader Speaker Series

September 23, 2019 //

The Innovation & Entrepreneurship Institute (IEI) was excited to welcome innovating alumnus, David Paul, back to campus last week to be the latest speaker to be featured in the Innovation Leader Speaker Series. Paul, founder and executive chairman at Globus Medical, stopped by for an intimate conversation about his journey from engineer to entrepreneur to CEO of the now publicly traded Globus Medical Inc.

At Globus, Paul perfected the art of teasing out true problems that doctors were experiencing, which allowed him to design new and superior solutions. When companies fail to identify innovations, Paul said, it’s almost always a failure of leadership.

Paul himself almost failed to invest in robotics despite the recommendations of his team but was enlightened by an experience with his teenage son. Paul spoke about how finding a higher purpose, serving the patients and the healthcare providers who treat them, enabled him to persevere even when facing barriers, such as being sued by his former employer. He described how the key to his success was developing a better, more efficient process for engineering new medical products. This enlightened discovery has allowed Globus to acquire robotics companies and start bringing Paul’s vision for robotics and the future of surgery to fruition.

When the time came to go public in 2012, Paul insisted on maintaining a controlling share of the company.  When his investment banker objected, he made them study the long-term profitability of public companies with founder control. Turns out, they discovered that those companies, who founder controlled companies, did significantly better over time.

In 2017, Paul stepped down as CEO but maintains an active role in the company as executive chairman of the board.  Paul holds a M.S. in Computer Integrated Mechanical Engineering Systems from Temple University. Paul was interviewed by Dr. Charles Dhanaraj, the H.F. “Gerry” Lenfest Professor of Strategy, and Founding Executive Director of Fox’s Center for Translational Research in Business.

 

Takeaways from our attendees: 

“IEI’s Dealing with Disruption event with Globus Medical’s Executive Chairman David Paul was excellent. How often do you get the opportunity to meet with somebody who built a billion dollar company from scratch and ask them questions about their entrepreneurial journey? I even had the chance to chat with Mr. Paul during the networking part of the event, which was really terrific.”

“It was interesting to learn about his view on the healthcare industry in the U.S. He pointed out that the operations and marketing teams are important when you launch a venture, as important as the technology and management teams.”