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Medical Alley Association serves the individuals and organizations that comprise Minnesota's health industry by influencing policy, fostering connections and providing critical intelligence to improve the quality of health around the world.

Medical Alley Association serves the individuals and organizations that comprise Minnesota's health industry by influencing policy, fostering connections and providing critical intelligence to improve the quality of health around the world.

5 Questions: Joseph Galatowitsch, President & Managing Partner, Dymedex Consulting

Joseph Galatowitsch

1. Briefly tell us a little bit about your organization and your role within it. (Background, products, services, customers that you serve – your general responsibility) 

Dymedex Consulting provides strategic market development consulting to medical technology companies. We help our clients understand the realizable market potential for their technologies and what it will take, specifically in terms of strategies and investments to realize it. We also assess how the market will respond in the short and long term based on different strategic and tactical approaches to the market. Our clients are often mislead by data they find in the market which creates a false sense of reality, which in turn can lead to wasted millions and years of frustration. We have a proven track record of accurately assessing market opportunity and helping our clients maximize enterprise value and drive sustainable adoption. 

As president and founder, I lead the organization. My energies are focused on business strategy, scaling our business, deliverable quality and insights, empowering our employees and supporting our client relationships 

2. What is the biggest challenge your company faces today? 

  • Finding quality and experienced talent 

  • Helping our clients see that the market for their technology has layers of complexity and nuance that are material to their decisions and investments 

3. What do you predict will be the biggest surprise in the next five years that our industry is not yet anticipating? 

  • Re-engineering/disruption within existing technologies will become more prevalent (i.e. leadless pacing) 

  • Cost reduction innovations will become a ‘thing’ 

  • Risk sharing/performance-based pricing will become SOP for many high priced medical technologies 

  • Blockbuster medical technology exits will become even more rare than they are today 

4. What do you consider to be the advantages to operating your business in Minnesota’s Medical Alley? 

  • I don’t think we would exist as a company without the network and infrastructure provided by MAA 

  • Network of ideas, people and a common purpose 

  • Access to talent 

  • Access to senior leaders across the spectrum of Med Tech. 

  • Facilitated brand and value awareness (helping our clients know who we are efficiently) 

5. What are the top skills you consider the most important to be an effective leader? 

  • Avoid thinking it’s your job to be the smartest person in the room (if you are, then you have the wrong job or you’re in the wrong room) 

  • Surround yourself with the best and the brightest, give them direction and then help them succeed in their own ways 

  • Make balanced decisions (balance timeliness, with information sufficiency, with the importance of the decision, with the ability to redirect, with the cost of redirecting) 

  • Make mistakes and don’t slavishly follow the rules