In this MassDevice Big 100 West preview, we talk to Strathspey Crown Chairman Robert Grant about how his private equity firm Strathspey Crown is looking to break the mold.
If Robert Grant is successful – a good bet, judging by his track record – 1 day his new venture, private equity firm Strathspey Crown, will be known as a leader in the nascent field of "lifestyle medicine."
Grant, a former president of Allergan (NYSE:AGN) and, most recently, CEO of Bausch & Lomb, describes lifestyle medicine as an umbrella of products, floating across aesthetics, dentistry, ophthalmic, sports medicine and other areas of healthcare that are focused on improving life, rather than saving or prolonging it.
More important to the long-term future of healthcare, however, may be Strathspey's ambition to be the first Medicare-Medicaid opt-out manufacturer in medical technology, by acquiring companies and technologies that don't take a single dollar from the government insurance programs – and therefore aren't subject to stifling government regulations Grant blames for weighing down a large swath of the healthcare market.
We caught up with Grant recently, in advance of his appearance as a panelist at the upcoming MassDevice Big 100 Roundtable West, to discuss the inspiration behind Strathspey Crown, his push to return power to physicians and how the U.S. is turning into a 2-tiered healthcare system.
MassDevice.com: Talk me through the thought process behind the creation of this new entity called Strathspey Crown.
Robert Grant: I saw a compelling need in the marketplace, because companies and doctors, due to over-regulation, are no longer able to work closely together anymore. I felt that, at its core, this was very problematic, because during the course of my career the relationship between physicians and companies has led to the American engine of innovation in medicine. It's always the doctors that come up with the ideas.