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August 2, 2022 45 mins
At its core, orthopedic care is about helping people maintain their quality of life by improving their mobility and function. As the baby boomer population ages, the demand for orthopedic services is expected to increase. With the cost of implants and the aging population rising, how can the healthcare industry provide great orthopedic clinical and patient experience? In this episode, Tommy talks with Greg Stalcup, Founder and CEO of SITES Medical. Greg has over 30 years of experience in R&D, manufacturing, and business development, with more than 25 of those years in the orthopedic medical device field. He established SITES Medical in 2003 to deliver greater value to orthopedic OEMs and inventors with an integrated approach to technology or product invention, development, and manufacturing.  Greg talks with Tommy about what inspired him to establish SITES Medical, his business management strategy, and SITES Medical's three-step process for bringing products to market. Key Takeaways [02:56] - Greg's journey from growing up on a farm to running a powerhouse engineering firm. [04:25] - Why Greg fell in love with orthopedics. [05:43] - What inspired Greg to build his own company. [10:45] - How Greg built his own company while working for other firms. [13:05] - The lessons Greg learned from his side hustle. [17:14] - How Greg's business fared during the 2008 recession. [21:14] - Greg's business management strategy. [26:44] - SITES Medical's three-step process for bringing products to market. [28:28] - The concept of process innovation. [30:51] - How Greg and his team come up with innovative ideas. [32:53] - How SITES Medical and Mach Medical work together. [38:32] - What Reinhold Schmieding told Greg to keep doing to be successful. Quotes [03:11] - "We had a small farm, and something was always breaking. I had to figure out how to work with that because we didn't have enough money to buy the parts. So, it taught me how to be able to be creative in solving problems." - Greg Stalcup [34:19] - "We want to create better, different, and targeted solutions that solve the cost issue and the time-to-market issues." - Greg Stalcup [39:27] - "Focus on the customer. Focus on doing what's right, making surgical products and procedures better, and everything will work out." - Greg Stalcup Links  Greg Stalcup on LinkedIn Greg Stalcup Email SITES Medical Reinhold Schmieding Zimmer Biomet Mach Medical Connect with our hosts Mammoth Tommy on LinkedIn Subscribe and stay in touch Apple Podcasts Spotify Google Podcasts Learn more about Mammoth Scientific's Health & Tech Fund 1 When you move beyond the point of making sure your retirement goals are on track, your investment opportunities are wider than just publicly traded funds. Step into the world of investing in venture capital by learning more about Mammoth Scientific's Health & Tech Fund 1. Curated by some of the leading medical and fintech experts, Mammoth's Fund 1 is paving the way for health science and tech innovation. If you're interested in helping patient care, provider insight, and instrumentation go beyond possibility and into reality, check it out today at Mammoth.vc. Visit Mammoth.vc today!
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