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The Wacky World of Diabetes - David Kliff EPISODE 4, 23rd March 2021
The Today and Tomorrow of Diabetes Devices with Erik Verhoef
00:00:00 00:33:09

The Today and Tomorrow of Diabetes Devices with Erik Verhoef

Today we’re doing a deep dive on the devices to look out for in the market, with expert Erik Verhoef. Erik founded Seagrove Partners in 2016 after spending 9 years at Tandem Diabetes Care (NASDAQ: TNDM), where he headed up Strategy, Business Development, Marketing and Market Research, leading to the design and commercial launch of t:slim, the award-winning insulin pump.

He played a pivotal role in the core team that completed Tandem’s initial public offering — one of the most successful issuances in medical device history. Erik started his career in healthcare consulting at Tiber Group, Campbell Alliance, and the Advisory Board Company.  

With that impressive resume, let’s really tune in and learn more from Erik about the today and tomorrow of diabetes devices and what to look out for in the market.

[00:01 - 02:22] Opening Segment

  • I introduce Erik Verhoef to the show
  • CEO and President of Seagrove Partners 
  • Erik gives a bit of background on himself
  • In the industry for 30+ years 
  • The journey his career took 
  • The start and activities behind Seagrove Partners
  • Erik’s current activities 
  • Oncology and diabetes 
  • Device focussed 

[02:23 - 11:41] The Today and Tomorrow of Diabetes Devices

  • Erik talks about his involvement with the newest Pens
  • Erik’s perspective on the next 5 years
  • The Type 1 side 
  • On the Pump side
  • The Type 2 side
  • The difference between us and the international markets
  • The HGH expenses in America
  • Spotty when it comes to CGM and Pumps
  • The reimbursement deal
  • Scandanavian companies seem to be more progressive
  • The progressiveness in Pediatrics 
  • The low points of Eastern Europe
  • Erik’s thoughts on wearable devices 
  • What problem are you trying to solve? 

[11:42 - 21:30] Biggest Players in the Industry

  • Erik’s thoughts on Medtronic Centres 
  • Not over-promising 
  • Coming back as a growth players
  • Comparing their integrations
  • Stand-alone CGM market
  • Smart acquisitions with Companion
  • Opinions around Sport Pump from Tandem
  • Coming out of focus groups from 2009 
  • Choosing the right size and cartridge 
  • Playing with the idea of phone control 
  • Closed-loop performance
  • Eli Lilly getting in the pump market
  • Large European footprint 
  • Their plan to get into the pump industry 
  • Compared to companies like Novo
  • Erik talks about who the top players will be post-covid
  • What companies have to do get there 
  • The companies that currently have these pieces 

[22:31 - 28:02] Differentiations in the Market

  • Thoughts on other upcoming devices 
  • What differentiates it 
  • Not seeing the market for a lot of up and comers 
  • Erik talks about the staying power of Apple 
  • Making their tech actionable, interactive, and easy 
  • Erik’s insights on what will break through the market 
  • Oral Insulin 
  • Israel - in phase 3 currently 
  • Current studies

[28:03 - 33:09] Closing Segment

  • Erik shares his final thoughts on game-changers in the market 
  • Insulin from Novo
  • Innovators in CGM 
  • Erik talks about the studies that he publishes
  • Two major primary research studies a year
  • What it covers 
  • Partnering with Beyond Type 1
  • How to reach out to Erik
  • Links below
  • Thank you and please share this 
  • Final Words 

Tweetable Quotes:

“I think that the pace of innovation in Type 2 has been good… Now I think we’re at this tipping point…” - Erik Verhoef 

“When everybody talks about their closed-loop system performance, it’s time in closed-loop. So why would you want people to disconnect from your pump if you’re going for that argument that you should always be in closed-loop?” - Erik Verhoef 

“[On up and coming devices] The question is what differentiates it from the other ones? They're all gonna have some kind of, Bolus Wizard, or Data Count Cards… How easy do you make it for people to follow you…?” - Erik Verhoef

“If you can have these devices that are priced effectively enough, and people don’t have to do finger strips anymore, then I think that can be a pretty exciting market.” - Erik Verhoef

Resources Mentioned: 

Connect with Erik on LinkedIn. Be sure to visit https://www.seagrovepartners.net/ to be the first to learn about the newest research in diabetes devices.

To know more, you can connect with me, David Kliff on Facebook, Twitter, and LinkedIn, or email me at dkliff@diabeticinvestor.com. Be sure to visit https://diabeticinvestor.com for more insights and real-time analyses on the evolving business of diabetes.

Don’t be shy, I’d love to hear from you! You can also reach me at 224-715-3761.

NOTE*: We are in no way a replacement for real medical professionals. All information in this podcast is obtained through reliable sources. Please be aware of our Disclaimer.

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