ARTICLE SUMMARY:
Mynosys developed a device that automates the only manual part of cataract surgery, the world’s most common surgery, thereby increasing its precision and improving outcomes. But that wasn’t going to be enough to gain market adoption of a premium product in a bundled procedure already offering slim margins for physicians. Working with the consulting firm Navigant, the company implemented two successful strategies for market penetration.
By Michelle D. Edwards and Mary Stuart
When ophthalmology industry veteran John Hendrick was tapped to lead Mynosys Cellular Devices Inc. as CEO in 2013, he found a promising product destined for a large market—a device that would automate and increase the precision of the most difficult step in the most commonly performed surgery in the world—cataract surgery. (On a global basis, there are 26 million cataract surgeries each year.)
