"Stan Lapidus: Profile of a Medical Entrepreneur."
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Higgins, Robert F., and Sophie LaMontagne. "Stan Lapidus: Profile of a Medical Entrepreneur." Harvard Business School Case 805-087, December 2004. (Revised July 2010.)
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"Stan Lapidus: Profile of a Medical Entrepreneur."
- 1. Stan Lapidus: Profile of a Medical Entrepreneur Case Study ● ● ● Ana Lessa 68080 MEGI Daniel André 65882 MEIC Francisco Ferreira 63563 MEIC ● ● ● Paulo Martins 65929 METI António Junior 57699 METI Marco Aurélio 77863 MEGI
- 2. What is it about? Stan Lapidus The poor immigrant kid that ended up revolutionizing cancer detection procedures Inventor of Cytyc’s ThinPrep technology Founded / Co-Founded 5 companies
- 4. Becoming and Entrepreneur 1980 - 1987 Itran Corp. 1987 - 1994
- 5. Cytyc Corporation - 1987
- 6. Becoming an Entrepreneur 1995 - 2001 2003 2008
- 7. What we think about “Stan” “You have to believe in yourself, but you also have to know your limits.” “You can always hire good people you’ve if got a good story” Stan Lapidus
- 8. What we think about “Stan” Research, networking and passion “A period of introspection after each professional experience, whether it be good or bad, is valuable” “After I left the company, I thought a lot about my experience, especially what I was good at and what I was not good at” “If you have a big market, a clear value proposition, and strong protective barriers like patents and FDA approval, you can do margins like those in the pharmaceutical industry” - Stan Lapidus
- 9. What happened to his companies? Itran Corp: acquired by Automatix Inc on January 24, 1994. Automatix itself acquired by Robotics Vision Systems Inc. (RVSI) and RVSI in 2005 acquired by Siemens Energy and Automation; Cytyc : merged with Hologic Corp on May 20, 2007 creating a $10 billion women's healthcare company with over $1 billion in projected annual sales; Exact Sciences Corp: went public in 2001. Total annual revenue of $4.1 million in 2012; Helicos Biosciences: filed for bankruptcy on November 15, 2012; SynapDx: Stan Lapidus is currently the President and CEO. In 2012 raised $32 million in funding rounds and had an estimated sales volume of $620,000.