Technology and innovation have disrupted all the fields in the industry. Companies and business leaders drive these technological advancements to bring a change in society. Thus healthcare leaders are playing a crucial role in saving lives and improving patient outcomes. The adoption of digital health technologies is empowering individuals and healthcare systems.
Driven by a personal connection to the healthcare industry, Ramin Mousavi leads CathWorks, a company that invented the first-of-its-kind disruptive innovation that can transform the diagnosis of patients with cardiovascular disease.
Ramin continues to explore ways by combining artificial intelligence (AI) and computational science to address cardiovascular diagnostic needs. After getting to know this inspiring story, Insights Care decided to interview Ramin to know about his journey so far.
Below are the highlights of the interview:
Kindly tell us the source of inspiration. What led you to venture into healthcare?
For me, my education journey, specifically when I pursued my MBA at the University of California, Irvine, was a time of introspection to discover what I love to do, as I contemplated the legacy I wanted to leave behind for my children and the impact I wished to make. I was driven by a personal connection to the healthcare industry, due to my mother’s battle with cardiovascular disease. As a child, I witnessed the challenges associated with her condition.
Some interesting facts: cardiovascular diseases are the leading cause of death globally, taking roughly 18 million lives each year. Coronary artery disease, a disease in which there is a narrowing or blockage of the coronary arteries, blood vessels that carry blood and oxygen to the heart, accounts for half of all cardiovascular-related deaths. One person dies every 56 seconds in the United States from coronary artery disease.
So, I believed this could be the space where I can have a meaningful impact on other people’s lives.
Brief us about yourself and shed some light on your journey towards becoming a part of CathWorks.
I am an engineer by background and spent the first part of my career in high-tech and the aerospace industry at companies like Rockwell Collins and Panasonic. When I switched to healthcare, I joined Edwards Lifesciences and spent a decade there in various leadership roles. At Edwards, I led the team that launched a transformational innovation, the SAPIEN 3 transcatheter heart valve. Having exercised the entrepreneurial skills combined with the process of bringing disruptive technology to market, I decided to join CathWorks. CathWorks FFRangio technology is a first-of-its-kind disruptive innovation that can transform how patients with cardiovascular disease are diagnosed and treated.
What roles and operations do you play at CathWorks daily? How do they contribute to delivering the type of service that clients need?’
I am the President and CEO of the company, leading our global teams in Israel, US, Japan and Europe.
Tell us about the variety of services and products that you are part of at CathWorks.
CathWorks is the leader in digital health innovations that can improve the lives of patients globally. The FFRangio System combines AI and advanced computational science, transforming how cardiovascular disease is diagnosed and treated. The FFRangio System obtains physiologic information from routine angiograms, eliminating the need for drug stimulation and invasive pressure wires. It provides physicians with quick and reliable intraprocedural FFRangio values for the entire coronary tree.
What specific R&D operations are you leading at present? Why do you find those essential?
Our R&D team continues to explore ways to combine AI and computational science to address unmet cardiovascular diagnostic needs. We are constantly looking for new areas where we can leverage our existing expertise – organically or through partnership – and provide new ways physicians can diagnose and treat patients.
In what way do you consider technological advances to be a pathway in conducting your operations?
Our wire-free and drug-free AI-based platform enables physicians to analyze the state of the patient’s coronary artery disease faster, leverage real-time results to decide smarter, and ultimately treat the patient confidently.
We quickly get the insight the physician needs to make more informed treatment decisions, enabling them to gain a comprehensive picture of the patient’s physiology providing the confidence that the physician is making the best decision for the patient.
What endeavors are you currently pursuing to improve service measures at CathWorks?
In July 2022, CathWorks entered into a strategic partnership with Medtronic to amplify its efforts in bringing the benefits of FFRangio to more physicians and patients globally. The partnership underscores Medtronic’s commitment to investing in innovative technologies that support physicians and patients from diagnosis to treatment.
As part of the agreement, Medtronic will invest up to $75 million and immediately begin co-promotion of CathWorks’ FFRangio System in the US, Europe and Japan, where it is commercially available. As part of a separate agreement, Medtronic will have the option to acquire CathWorks once certain undisclosed milestones are met. CathWorks will also have the right to compel Medtronic to acquire the company if Medtronic chooses not to exercise its option. The acquisition option agreement will expire in July of 2027, with an estimated acquisition of up to $585 million and potential undisclosed earn-out payments post-acquisition. Medtronic has held a minority investment in CathWorks since 2018.
We are focused on executing on this strategic partnership, rapidly growing the global footprint of FFRangio.
Our strategy is to expand the commercialization of FFRangio globally while investing in innovation, evidence generation and education.
What are some of the challenges you face when conducting operations and how do you turn them into opportunities for growth?
Driving change in healthcare is challenging. There is a default inertia against disruptive change, and the only way to overcome that is through awareness and education.
What advice would you like to give to budding entrepreneurs and enthusiasts who desire to venture into the healthcare sector?
Healthcare is a great sector to be in, especially when you can develop and launch innovation that can have positive impact on others. But that comes with a higher responsibility to ensure we bring great quality innovation into the market. Driving change through innovation requires boldness and perseverance.
As long as you know what the end goal is for you and your team, you should embrace failures. Every failure is simply an opportunity to begin again — smarter, more experienced, and more dedicated to your goals. And always remember to enjoy the journey. You are only here now. You are alive in this moment.
