iRhythm Technologies, Inc

Mark Hughes

Operations executive with over 30 years of experience in the medical device and life science industries with rapid growth. Three companies are listed on Inc. Magazine’s top 100 fastest-growing companies. Expertise in scaling medical device and life science companies’ operations from start-up to USD 700M yearly revenue. Areas of expertise include start-up, turnaround and rapid scaling.

Nothing is more fun than getting a start-up off the ground, like taking a plane down the runway and lifting off. The same can be said for launching a new product or entering into a distribution agreement. I have been fortunate enough to have experience growing three operations in companies that were featured on Inc. Magazine’s list of the top 100 fastest-growing companies. It is not for everyone, but if you have fire in your belly and want to do something beyond the norm, it is extremely rewarding. The experience you gain is exponential to a mature and slow-growing operation.

A true manufacturing leader needs commercial volume growth like a boxer needs to get in the ring. The early-stage start-up requires a lot of work and development before launch, which can help put the energy to use, but is still anxiously waiting for launch and volume.

“Nothing is more fun than getting a start-up off the ground, like taking a plane down the runway and lifting off. The experience you gain is exponential to a mature and slow-growing operation.”

Start-ups generally focus on growth first and cost later to rapidly gain market share and prove to shareholders that there is market demand. Cost generally comes later, and investors are less willing today to accept growth without good margins. iRhythm is scaling and growing margins, which makes it a company to watch in the years to come.

A good manufacturing leader inherently likes to take a process and make it repeatable and predictable, which lies at the heart of scaling and margin. On the other hand, a good R&D Scientist is quite the opposite. They enjoy working on the new, shiny idea and tinkering with it endlessly.

The nightmare scenario for a good R&D scientist would be the life of a one-hit wonder having to sing the same song night after night after night.

A good manufacturing leader will identify and address broken processes or functions that are in disarray. Everyone wants to be part of a winning team. Most don’t want to leave a winning team to take over a failing group or function. This is where a good manufacturing leader shines. It is so gratifying to turn around an underperforming organization into a highly functioning all-star team that executes at the highest level.