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    Silverglide Surgical Technologies

    Uploaded by

    Dhruv Gandhi
    Thorne started a surgical technology business called Silverglide with $80,000 in capital. He developed an electrosurgical probe that uses radiofrequency energy to seal tissues during surgery without sticking. While the initial client abandoned the project, Thorne licensed the technology and formed Silverglide. He recruited an experienced team and raised $80,000 from family and friends. Silverglide's non-stick probe targeted the market for disposable electrosurgical instruments, which was growing to over $100 million annually led by companies like Mega Dyne, Valley Lab, and ConMed. Initial testing on meat and fish demonstrated the probe's non-stick effectiveness.

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    Silverglide Surgical Technologies

    Uploaded by

    Dhruv Gandhi
    35 views2 pages
    Thorne started a surgical technology business called Silverglide with $80,000 in capital. He developed an electrosurgical probe that uses radiofrequency energy to seal tissues during surgery without sticking. While the initial client abandoned the project, Thorne licensed the technology and formed Silverglide. He recruited an experienced team and raised $80,000 from family and friends. Silverglide's non-stick probe targeted the market for disposable electrosurgical instruments, which was growing to over $100 million annually led by companies like Mega Dyne, Valley Lab, and ConMed. Initial testing on meat and fish demonstrated the probe's non-stick effectiveness.

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    Thorne started a surgical technology business called Silverglide with $80,000 in capital. He developed an electrosurgical probe that uses radiofrequency energy to seal tissues during surgery without sticking. While the initial client abandoned the project, Thorne licensed the technology and formed Silverglide. He recruited an experienced team and raised $80,000 from family and friends. Silverglide's non-stick probe targeted the market for disposable electrosurgical instruments, which was growing to over $100 million annually led by companies like Mega Dyne, Valley Lab, and ConMed. Initial testing on meat and fish demonstrated the probe's non-stick effectiveness.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    35 views2 pages

    Silverglide Surgical Technologies

    Uploaded by

    Dhruv Gandhi
    Thorne started a surgical technology business called Silverglide with $80,000 in capital. He developed an electrosurgical probe that uses radiofrequency energy to seal tissues during surgery without sticking. While the initial client abandoned the project, Thorne licensed the technology and formed Silverglide. He recruited an experienced team and raised $80,000 from family and friends. Silverglide's non-stick probe targeted the market for disposable electrosurgical instruments, which was growing to over $100 million annually led by companies like Mega Dyne, Valley Lab, and ConMed. Initial testing on meat and fish demonstrated the probe's non-stick effectiveness.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 2

    Silverglide surgical technologies

    Introduction
     Started business with $80000 as capital, but it vanished, and they had
    sales to date rounded to zero.
     Thorne thought that developing and marketing surgical instruments will
    improve the surgical practice.
    Three questions in Thorne’s mind:
    1. Is it the right time for them to focus on other surgical specifications?
    2. Is it reasonable to abandon the probe and develop a new product line?
    3. Whether Should he drop the entrepreneurial dream and start doing a
    salary job in a medical company?
    Developing the probe
     Thorne has developed the electrosurgical probe with his colleagues by
    dubbing the silver bullet, which is used to seal a new and innovative lung
    patch to human lungs.
     The client who has contracted for the development won the FDI approval
    and decided to abandon the lung patch project, leaving Thorne in worry.
     A year later, he decided to start his own business.
     By mid-1998, he signed an agreement to license the probe technology
    from his former client.
    The Electrosurgery Mechanism and advantages
     Electrosurgery used the radiofrequency energy application, which helps
    to stop tissues from bleeding, seal vessels.
     It uses an electrode mechanism that is placed in contact with the human
    tissue, and it conveys the radiofrequency energy to the patient.
     It is cheap than any other method of surgery like laser or ultrasonic
    surgery.
     It didn't stick the tissues it touched, which is a significant benefit for
    surgeons.
     Silverglide's technology provided a non-stick, disposable product that
    does not deteriorate with reuse.
     Three companies having a substantial market of disposable, non-stick
    products:
     Mega Dyne:
     the first company to introduce non-stick technology under
    the name E-Z clean line
     provide Teflon-coated disposable instruments
     sales grow from zero in the late 1980s to $16m by 1999

     Valley Lab:
     Global market leader in electrosurgical products
     Introduced non-stick disposable instruments based on
    silicon-coating technology
     Sell their product under the name- The Edge
     Sales grow to $12m by 1998
     ConMed:
     Introduced Teflon-coated instruments
     Sell their product under the name- Stealth ER
     They have sales of $67.2 m.
    Building Team and Raising Capital
     Following are the members of his team:
    1. Kevin Morningstar- served as a director of regulatory affairs and
    quality insurance, deal with FDA approval process.
    2. Don Hargraves- experienced and successful entrepreneur.
    3. Advisory board of highly qualified and seasoned business
    executives.
    4. Thorne will handle the marketing and sales and provide direction
    to the company.
     In Sept 1998, he convinced some of his friends and family member to
    invest in his company.
     Sold 7.6 percent of the equity for $80000 in common stock
    Reviews the surgeons gave
    1. Too large
    2. Troublesome in disassembling for sterilizing
    3. Impressed with non-stick feature
    Identifying a target market and testing
     They focused on targeting plastic surgeons
     In 1999, Thorne and Morningstar performed surgery on meat and fresh
    fish fillets, which shows that tissues didn't stick to the Silverglide probe.

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