CEO of StraTactic, Inc. | Strategic Healthcare Consultant | Healthcare Professor, Carnegie Mellon | Former Fortune 20 Executive
James F. (Jim) Jordan is President and CEO of StraTactic, Inc., which enables both Fortune 500 and start-up companies to develop their go-to-market, commercialization, and business development strategies. He is also a Distinguished Service Professor of Health Care and Biotechnology at Carnegie Mellon University’s Heinz College, where he has published numerous articles and books on innovation, start-ups, intellectual property, and health systems. Jim is an active industry expert in healthcare and the life sciences. With a life-long passion for learning, Jim’s business accomplishments, combined with his academic achievements, enable him to apply his broad field of knowledge and experience to his clients. A dynamic communicator, Jim is an active author, speaker, and consultant. Previously, Jim served as President and CEO of the Pittsburgh Life Sciences Greenhouse (PLSG), a public-private economic and venture fund owned by Carnegie Mellon University and the University of Pittsburgh. Jim was at the PLSG from 2005 to 2020 and applied his more than 25 years of experience to work with over 493 life science startup companies, with direct investment in 93 of them. Prior to joining the PLSG, Mr. Jordan served as Senior Vice President of a $3 billion division of McKesson Corporation and as a Vice President for Marketing at Johnson & Johnson. He has leveraged this experience in several startup ventures and is active on several Boards of Directors. Mr. Jordan’s experience also includes consulting engagements with numerous companies such as Medtronic, Frost & Sullivan, Circuit City, Philip Morris, Northrop Grumman, Schwartz Pharmaceutical and Otsuka Pharmaceutical, among others.
Ask me about
Sep 2007 - Present
Carnegie Mellon University - H. John Heinz III College
Distinguished Service Professor of Healthcare & Biotechnology Management, Sr. Director of Healthcare
Carnegie Mellon is among elite American universities, consistently ranking in the top 25 (US News and World Report) and is distinct in its interdisciplinary approach to research and education. As the Senior Director of the Healthcare Policy and Management program, Mr. Jordan oversees one of the nation’s top-ranked health programs. He creates program curriculum, finds key faculty and instructors, recruits and screens applicants, and leads the cross-functional program team for admissions, marketing, student affairs, and career services. Mr. Jordan’s academic pursuits are focused on modeling health systems, which includes the people, institutions, and resources necessary to health care delivery. His research projects have included optimizing Healthcare Effectiveness Data and Information Sets (HEDIS) and developing population health models, telemedicine models, and care coordination programs. He is the author of Innovation, Commercialization, and Start-Ups in Life Sciences, which details the methodologies necessary to create a successful life sciences start-up from initiation to exit, and the upcoming book, Health Systems: An Overview, slated for 2017 publication, which focuses on healthcare systems.
Oct 2002 - Present
StraTactic is a full-service life sciences consulting firm, with a focus on disrupting markets, driving share, and delivering results. Jordan and his team of renowned consultants have collectively worked with over 480 life sciences companies assessing new technologies, performing due diligence, and providing strategic direction. With over $22M in direct investment decisions under their belt, they can not only identify winners from losers, but their intellectual capital helps drive decisions. An entrepreneur himself, Mr. Jordan has a particular interest in startups and helping them to succeed. He is an exceptional strategic thinker who excels at corporate strategy development and implementation and an innovative creator of breakthrough marketing communications campaigns.
2000 - Present
Author, Speaker, Conference Co-Chair
Mr. Jordan frequently speaks to business and technical leaders, angel investors, academics, and students on a variety of topics including science and technology, innovation, and complex problem solving. He is also the author of Innovation, Commercialization, and Startups in Life Sciences, which focuses on the products side of the industry. His newest book, Health Systems: An Overview, is scheduled for 2017 publication and focuses on both the insurance and provider sides of the healthcare industry. He has also authored numerous book chapters and other academic papers. Mr. Jordan was recently named the national co-chair of Bio International Convention (http://convention.bio.org/bootcamp/), a conference of 65,000 attendees. Representative talks include: ■ Angel Capital Association 2015 - Positioning Life Science Companies for Accurate Valuation & Strong Exit ■ Angel Capital Associate 2014 – Successful Exits: It’s Not Just About the Technology ■ National Science Foundation 2012 - Quality of Life Technology, Innovation, and Startups ■ Science Progress 2010 – Sustaining Life – The Role of Small Business Innovation ■ Science Progress 2009 – Pittsburgh’s Targeted Incubator: Taking Innovation to the Next Level
Jan 2005 - Oct 2020
Pittsburgh Life Sciences Greenhouse
President & CEO
President & CEO - December 2016 - October 2020 Vice President & Chief Investment Officer - 2006 - 2016 Executive in Residence - 2005 Pittsburgh Life Sciences Greenhouse is a public/private venture capital partnership that invests in life sciences companies in the areas of bioinformatics, bio/nanotechnology, diagnostics, medical devices, medical robotics, healthcare information technology, therapeutics, and tools and services. As President & CEO, Mr. Jordan helped catapult the PLSG to a nationally recognized economic development and investment firm and become a leader in innovation and economic development in western Pennsylvania. A seed incubator and early-stage venture capital investor, PLSG has worked with over 438 unique companies and distributed close to $100M to university and company entities. Mr. Jordan works directly with each company that PLSG supports, and since joining the organization, PLSG has made a direct investment in 84 companies resulting in follow-on capital in excess of $1.5B with successful exits of over of $600M. Mr. Jordan advanced the volume and quality of the investment portfolio, solidifying partnerships with sources of innovations, and developing relationships to attract follow-on capital and company exits. He also led the Executives-in-Residence Program, which provides a pool of experienced senior managers to start-up firms as interim executives to shepherd them through company formation and pre-venture capital stages of growth. While Mr. Jordan often worked behind the scenes, governing boards consistently recognized his significant impact, often seeking his counsel long after the formal PLSG relationship has ended.
2015 - Sep 2020
Member of Board of Directors
Treatspace is a health information technology company that provides three Web-based services: 1) Referral management, 2) Patient Engagement, and 3) Clinical Collaboration into a single online portal.
Jan 2011 - Sep 2020
Member of Board of Directors
Developing biologically-active medical devices, with growth and regenerative factors designed by nature in the right proportions to heal tissues.
2002 - 2005
University of Richmond
Courses Taught: Strategic Project Management, Risk Management, Succession Planning, Presentation Skills, Advanced Lean and Agile Manufacturing
2002 - 2004
Senior Vice President
McKesson Corporation, with sales of $199B, is a Fortune 25 company and operates in three segments--the pharmaceutical business, the medical group, and the information solutions businesses. As Senior Vice President of Marketing, Mr. Jordan led, developed, and directed all marketing, product management, sourcing, and customer technology solutions associated with the $3B medical group. Sales channels included hospital, physician office, surgery center, nursing home, assisted living, and home care markets. Product categories included medical-surgical supplies, equipment, pharmaceutical, and IT solutions. Staff included five vice presidents with a total team of 161 professionals. Accomplishments included: ■ On a purchasing base of $2B+, grew supply-side incentives by 33%, representing over 50% of EBIT ■ Launched new pharmaceutical lines into the physician office, growing the business by 20% ■ Launched three new technology solutions focused on point-of-sale ordering, charge capture, and replenishment
2000 - 2002
Johnson & Johnson
Vice President Of Marketing
J&J is a Fortune 25 company with sales of $77B. Hired to quickly create a high caliber marketing team and forge scalable infrastructure for aggressive growth, Mr. Jordan led, developed, and directed all marketing activities associated with the cardiology business segment, a unit with $3.8B in world-wide sales. Accomplishments included: ■ More than doubled revenue and share in the U.S. to $700M and 28% respectively in less than two years ■ Grew lead revenue generating product share from 15% to 36% through new product launches and the creation of effective segmentation strategy ■ Repositioned product category that resulted in $225M annual revenue and a greater than 25% price premium ■ Installed management planning infrastructure, including a price management process resulting in price premiums in eight of nine product categories
1997 - 2000
Vice President of Marketing & Sales
Vasca was a medical device start-up company focused on offering new, innovative dialysis access technologies. Reporting directly to the CEO, Mr. Jordan developed business, operating plans and Internet strategy for board approval; represented the company to investors, potential strategic partners, and the scientific community; and worked with the CEO and board in positioning the company for various levels of funding. Accomplishments included: ■ Working with the CEO, established legal structures to sell direct in Canada and throughout Europe ■ Hired and managed the first European and Canadian sales force and facilitated Japanese strategies ■ Designed CMS reimbursement strategy and facilitated European reimbursement strategies ■ Built the global sales and clinical specialist force of 45 ■ Developed the sales administration, contact management, field reporting, and compensation programs to support a direct field force ■ Introduced global marketing communications programs, branding, public relations, and press release structures
1996 - 1998
Director of Endovascular Marketing, Director Strategy
Boston Scientific, with sales of $9B, is a Fortune 100 company. The Meadox Division sold grafts, angioplasty, and stent products, with sales of $200M. Mr. Jordan led, directed, and managed all worldwide marketing strategies associated with a $105M business segment. His accomplishments included: ■ Established and created an endovascular AAA market platform utilizing global thought leaders ■ Led three global endovascular projects from concept to commercialization ■ Developed clinical sites from initiation through enrollment completion during an IDE and supported management in PMA submission ■ Managed CMS reimbursement strategy to facilitate commercial success, ultimately resulting in the creation of a new DRG code ■ Recruited and established physician champions and built relationships with leading physician societies ■ Established a strategic planning, market intelligence, and sales targeting system to support the transition to a direct sales force and participated in the liquidation of a distributor network
May 1988 - Aug 1996
C.R. Bard (now BD)
Plant Controller, Operations Manager, Engineering Manager, Quality Manager, Plant Manager, OEM Sales
Beginning as Plant Account Manager/Controller, Mr. Jordan worked his way through the ranks to Director of Marketing/Marketing OEM Sales Manager in this Fortune 500 company where he ultimately was responsible for $125M in US sales. Highlights of his many accomplishments include: ■ Grew existing product line revenue from an annual rate of $700k to $14M in 18 months ■ Grew OEM business by 52% through partnerships and licensing agreements ■ Identified and negotiated multi-year B to B agreements worth over $10M in incremental business over three years. Earning the trust of the company president, who recruited Mr. Jordan from Plant Manager to direct and manage all division reliability and laboratory functions as he transitioned into Marketing Director, Mr. Jordan reported directly to the President and led a cross-functional team and designed a new product development process to link and redefine all processes from market research to post market release. Before this, as Plant Manager, Mr. Jordan led a satellite manufacturing plant of 600 with equivalent annual sales in excess of $90M and a product cost budget of $36M. In this role he simultaneously avoided a unionization vote and achieved record Customer Service levels of 99.8% while also reducing inventories. As Engineering Manager and Operations Manager, Mr. Jordan set the technology objectives of manufacturing and managed a staff of 56+ and a budget in excess of $7.2M. He also Jim led production, purchasing, materials, and facilities engineering functions for a satellite manufacturing plant, managing a $6M budget and approximately 90 employees. Three days after starting as Operations Manager, the FDA closed the facility. Under Mr. Jordan’s leadership, the company was able to successfully reenter the business, and after that, reduced lead-time from 55 to 5 days.