Why Private Equity Trusts Board of Directors Headhunters
The Challenge of the Private Equity Firm
Our private equity client held an early-stage investment in a cardiovascular medical device company. They had a promising new product and wanted a new board member to help them navigate the byzantine FDA and CE regulatory processes as quickly as possible. With approval, they hoped to exit through a liquidity event. Given the critical nature of this search, they decided to work with board of directors headhunters—Apex Leaders board of directors recruitment services to ensure they found a candidate with the right expertise.
Target Profile for Board Memebr Expertise
The target profile for this client was very specific.
- A former CEO of a cardiac implant device company
- Experience with CE marking and FDA regulatory approval
- Has navigated a successful liquidity event.
This profile demanded a highly specific skill set, which is why our client trusted board of directors headhunters like Apex Leaders to pinpoint top-tier candidates quickly.
“Given such narrow criteria I was skeptical, but Apex Leaders took the challenge and delivered highly qualified candidates in a very short period of time. Apex was responsive and took the time to understand our business and needs.”
Mike Taglich
Taglich Brothers
The Board of Directors Search
Matching a profile with so many highly specific technical requirements—that’s a tall order. Even the client had doubts. But we succeeded in introducing them to a number of strong candidates in just a few weeks. Leveraging our expertise as one of the top private equity-focused board of directors search firms, we navigated the complexities of the industry to deliver exceptional candidates quickly.
During their interviews, the client realized their actual needs were different from what they initially thought—which is not unusual in a board search. We revised their desired profile to reflect someone with the contacts required to attract potential buyers or go public: a former executive of a multi-national medical device company.
The Results of the Board Search
With the new direction, we had to pivot quickly. Apex presented the client with four high-quality candidates that matched the new profile, including:
- President, St. Jude Medical, Cardiac Surgery Division (formerly)
- Founder and Chairman, Abiomed (formerly)
- Founder, CoreValue (formerly)
- President, US Division, St. Jude Medical
Our work as trusted board of directors headhunters allowed us to source and vet these candidates rapidly, ensuring a precise fit for the client’s evolving needs.
Last Word
Our client ultimately selected one of these cardiac leaders. Just as important, the client was able to expand their own network by developing rapport with the other cardiac implant veterans we introduced them to—all of whom offered their assistance on an as-needed basis.
Don’t settle when it comes to your board search. Partner with our experienced board of directors search firm to find the right talent that aligns with your firm’s vision. Reach out to learn more about how Apex Leaders can help.
“Apex Leaders helped us place two outside directors on the board of a public pharmaceutical company and one on a medical device company and there will be more in the future! They’re a pleasure to work with. I heartily recommend them!”