Alejandro Cazzulino

HealthPoint Capital/InnovaHealth Partners​

My interest in medical devices started last year during my year out. I worked with a
group of orthopedic spine surgeons who collaborated with device companies because of the
extensive instrumentation involved in their procedures. Company representatives were in the OR
with them providing support and suggesting potential instruments. After procedures, the
surgeons would provide feedback to the representatives about their preferences and issues
regarding the devices. They worked with large companies such as Medtronic, Stryker, and
Johnson & Johnson. However, they also worked with smaller companies, such as Mazor
Robotics, which develops robots to assist with surgical procedures. The possibility of working
with one of these smaller more innovative companies particularly drew me into the device field,
especially given its overlap with my interest in orthopedics.

This past summer I worked at InnovaHealth Partners, a New York City based private
equity firm that focuses on innovative medical device companies. Innova recently spun out from
their legacy partner firm HealthPointCapital, which invests in medical devices with a focus on
musculoskeletal and dental implants. The leading partners at Innova wanted to move in a new
direction because Healthpoint was beginning to focus on companies based in China, so they
decided begin a new fund. I was incredibly fortunate to gain the opportunity to work with the
partners at Innova this past summer because it offered me a chance to see what it was like to
work at a private equity firm that was still in the early stages of fundraising. One of the partners
at Innova, Ariella Golomb, received her MD/MBA from Perelman and Wharton and gave a
HealthX talk last year about one of their portfolio companies, Orthospace. After the session, I
spoke to Ariella and was able to get involved at the firm as a summer associate.

One of the reasons that Innova spun out from Healthpoint was because they want to begin
to explore new medical device sectors to invest in. Innova is well acquainted with the orthopedic
market but wants to diversify in order to help build innovative companies in new areas of
medicine. This requires a great deal of research, which was my main responsibility for the
summer. I began by identifying a sector and then proceeded to determine the market value, find
innovative medical devices, identify physician subspecialties, procedure types, large medical
device companies, emerging medical device companies, and other venture capital and private
equity firms who were invested in the space. My summer culminated in a presentation to the
partners with the results of my research and several potential targets in the field that I believed
would make good investments. Additionally, I assisted with several blog posts on Innova’s
interests page.

Overall the summer was incredibly fruitful and I learned a great deal about private equity
with a special focus on medical devices that will continue to benefit me throughout my career.
Typically, private equity firms only take MBA students for summer internships. Fortunately,
because I knew about possible generous funding from Penn HealthX, I could offer to work with
Innova without requiring financial compensation, which facilitated my opportunity to get
involved. I am incredibly thankful that HealthX was able to allow me to pursue my interests in a
non-traditional field.