Jim Tananbaum and the Need for Innovation in Healthcare

August 18, 2017
By Rel

Jim Tananbaum has spent years working in the healthcare market, giving him insight into the business, culture, and an understanding of what does and doesn’t work. Through his firm Foresite Capital, Tananbaum has worked diligently to locate and nurture talent in the healthcare industry, making sure their businesses have a chance to compete in a competitive market and helping them meet their mission of providing quality options to patients in need.

With a background in investing, Jim Tananbaum comes to the healthcare world with a distinct perspective. As one of the founders behind GelTex Pharmaceuticals, Tananbaum focused on finding clients in need of medication. His business savvy in this market eventually led to a sale of the company for $1.6 billion. Having been tested in the business end of healthcare, Tananbaum went on to found Prospect Venture Partners, where he met with fledgling businesses in need of guidance and funding in order to succeed.

For Tananbaum, investing in healthcare ventures puts the onus on the investor to seek out talent. Many in the healthcare industry find it difficult to convey their business platform due to the scientific jargon that goes into making their healthcare product work, making it difficult to understand their business ambitions. Understanding this, Tananbaum works to remain abreast of advancements in medical research and can communicate with those working in their industry in a way that allows them to speak plainly.

While Tananbaum may know what to look for, he admits that it’s not always easy to find good investment opportunities in the field. According to Medium, investors rarely understand the development time needed for healthcare products, which makes questions about profitability difficult to analyze. This leaves many investors disinterested in the industry, so Tananbaum encourages those in the medical field to consider entrepreneurship. By turning to business, those with the knowledge of the field can have a better chance of getting medical advancements into production. And with so few medical experts willing to approach investors first, those who are enterprising have the opportunity to make their case before the competition.

About Jim Tananbaum:

Jim Tananbaum is an American investor and healthcare expert. Having graduated from the Massachusetts Institute of Technology and Harvard, Tananbaum went on to co-found GelTex Pharmaceuticals, a successful biomedical company that was sold off for $1.6 billion.

Tananbaum has spent time as an investor and founded his own venture capital firm, Foresite Capital. Here, Tananbaum seeks out talent in the healthcare field and invests those businesses with the most promise of success.

Read More: https://ideamensch.com/jim-tananbaum/

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