69: The Pulse of Innovation, with Michael A. Mussallem, Chairman and CEO, Edwards Lifesciences
Meet Mike Mussallem:
Mike Mussallem is the Chairman and CEO of Edwards Lifesciences. Prior to Edwards, he was at Baxter International. Currently, Mike serves on the board of the Advanced Medical Technology Association (AdvaMed) and is an advisory board member for the Leonard D. Schaeffer Center for Health Policy & Economics at the University of Southern California. He is a trustee of the University of California, Irvine Foundation and the Rose-Hulman Institute of Technology. Mike received a Bachelor’s in Chemical Engineering from the Rose-Hulman Institute of Technology.
Key Insights:
For Mike Mussallem, Edwards Lifesciences has a responsibility to the patients they serve. That mission is baked into their technology, culture, supply chain, and strategy.
- Culture of Innovation. Mike emphasizes the importance of culture. Edwards, like many medical technology companies, wants a culture of innovation. To achieve that requires rewarding true innovation, not just increases in sales, as well as creating an environment where employees can admit failure and build off of it. (19:12)
- Supply Chain Resiliency. The pandemic had a limited impact on Edwards due to built-in redundancy. Edwards has multiple production plants and suppliers, with facilities around the globe that support their specific geographic area. Effective strategy combined with strong culture helped Edwards tremendously during the pandemic. (24:42)
- Culture Eats Strategy. Another fundamental aspect of Edwards’ culture is its dedication to helping patients. The company brings that element to life through storytelling. Conferences or other events often showcase short films about how their technology directly impacts patients. When asked, 90% of Edwards employees think about patients each day when they make decisions. (29:36)
Relevant Links:
