Careers that Change Lives
A Day in the Life
The Corporate Development Director is part of the Patient Monitoring BDS organization and is responsible for business development initiatives related to asset or company acquisitions, commercial distribution, and other external partnerships for the Patient Monitoring operating unit. This individual will also be responsible for BDS corporate reporting and supporting the operating unit (OU) quarterly business reviews.
They will make recommendations to senior leadership on inorganic investments, strategic direction for the business, and recommendations for investing in the right growth market segments. This individual must be detail-oriented and self-motivated, with excellent analytic, facilitation, and communication skills (both oral and written). This role will work closely with BDS team members, global marketing, R&D and cross functional teams to ensure a collaborative creation and execution of the operating unit's vision and strategic narrative. The Business Development Director will report to Sr. Director of BDS within the PM OU
Responsibilities may include the following and other duties may be assigned.
Defines corporate objectives and long-range plans to achieve growth and financial profitability through acquisitions, disposals, mergers, joint ventures, strategic alliances and licensing agreements.
Evaluates new and emerging technologies to identify potential acquisition, investment and/or distribution opportunities, and makes recommendations to management
Identifies, investigates, and analyzes possible acquisition, merger, and licensing opportunities and strategic partnerships.
Collaborates with cross-functional team members and customers (physicians) in technology/product assessments
This may include understanding of product usage patterns and reasons for technology choice, and technical hands-on evaluation of products
Develops business case and deal strategy informed by cross-functional requirements such as clinical evidence, regulatory pathway, regional and/or country specific market conditions
Translates deal strategy into deal structure and terms. Leads, prioritizes, resources and manages due diligence teams and integration planning activities
Creates financial deal models and presentations, that support leadership and executive-level decision making
Acts as corporate representative and negotiator in initial contact with candidates for merger, acquisition, or licensing.
Manages on-going licensing agreements, acquisitions, and/or alliances as the business representative for the company to extract the most value from the relationship.
Collaborates with Integration lead on pre and post deal close requirements and workstreams
Maintains a database of potential partners / acquisition targets and routine monitoring to stay abreast of business development opportunities
As a member of the Strategy team play a key role in shaping the vision for the business for near term and long-term growth
Work with global marketing and market development teams to understand the key barriers to adoption and inform project, investment, BD&L strategies to remove those barriers
Collaborate with marketing teams to ensure alignment between Enterprise strategy and COT strategies
Support strategy and business reporting at the corporate level
Drive Inorganic reporting to Med Surg Portfolio and Corporate. Work closely with the Strategy Director and Product Marketing leaders to ensure accurate representation of the business
Other responsibilities may include special projects related to key strategic initiatives
CUSTOMERS FOCUS AND MARKET AWARENESS
Ensure familiarity with global market needs by regular cadence of engagements with customers and Marketing counterparts. These include regular conference calls, participation in Regional Marketing activities, sales ride-along, attendance at key trade shows & seminars, etc.
Understand the main enterprise competitors, support quarterly earnings analysis and partner with SBD team members to report on market share, competitive trends, and revenue
Develops long-range objectives and strategic plans for corporation or major division by identifying internal and external strategic issues that could affect growth and profitability.
Scans environment for business opportunities, maintains surveillance over market, and may perform financial analysis of acquisition candidates.
Plan and coordinate business reviews that contribute to broader business strategy
Use market surveillance and financial analysis to plan resource allocations and commercial evolution
Lead strategic planning in partnership with leaders from different functions
Collaborate with Global and Regional teams to ideate, test, and execute in-market pilots and innovative growth models across our portfolio
Prepare executive level presentations with business cases and financial models that demonstrate investment value in critical areas of opportunity
Effective communication skill with ability to explain complex concepts simply to senior leadership
Act as an extended team member with regions to provide a market / customer perspective that supports proactive internal strategies and results in meaningful competitive impact
Candidate must be highly motivated, goal driven, customer-focused, have a high energy level, and strong work ethic. Must be able to think strategically without losing sight of the details and act tactically to achieve desired results
Must Have: Minimum Qualifications
Bachelor's degree required
Minimum of 10 years of relevant Business Development, Strategy, Portfolio management, or Marketing related experience with 7+ years of managerial experience, or advanced degree with a minimum of 8 years of relevant Business Development, Strategy, Portfolio management, or Marketing related experience with 7+ years of managerial experience
Together, we can change healthcare worldwide. At Medtronic, we push the limits of what technology, therapies and services can do to help alleviate pain, restore health and extend life. We challenge ourselves and each other to make tomorrow better than yesterday. It is what makes this an exciting and rewarding place to be.
We want to accelerate and advance our ability to create meaningful innovations - but we will only succeed with the right people on our team. Let's work together to address universal healthcare needs and improve patients' lives. Help us shape the future.
Physical Job Requirements
The above statements are intended to describe the general nature and level of work being performed by employees assigned to this position, but they are not an exhaustive list of all the required responsibilities and skills of this position.
The physical demands described within the Day in the Life section of this job description are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.