“HIFU (high intensity focal ultrasound) is very valuable as a therapeutic treatment, but histotripsy may have some added value. We can develop a platform that can do HIFU or histotripsy or combine the two on a single platform,” Focaltherics explains to Bloomberg Intelligence. In this Vanguards of Healthcare episode, CEO Ryan Rhodes and CFO Ken Mobeck sit down with BI analyst Matt Henriksson for an in-depth interview to talk about how the Focal One robot uses high-intensity focused ultrasound, or HIFU, to ablate prostate cancer without needing an incision or removing the whole prostate. We also dive into how the team plans to expand into other cancerous and benign diseases, including benign prostate hyperplasia and endometriosis, and develop histotripsy — a focused-ultrasound technique that mechanically destroys targeted tissue — capabilities into the platform.

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“Whenever you look at these adjacencies…these are areas that we think plays to Stryker’s strengths, we have some innate know-how or some ability to be able to think to win with our commercial offense and the way we’re organized”, CEO Kevin Lobo and COO Spencer Stiles explain to Bloomberg Intelligence. In this Vanguards of Health Care podcast episode, Lobo and Stiles sit down with BI analyst Matt Henriksson for an in-depth interview on Stryker’s robust M&A track record, and key steps to successfully integrate all kinds of acquisitions as part of the long-term strategy for above market growth. One of the key factors is Stryker’s corporate culture, which combines the insight and learnings built from over 60 deals as well as an appetite for risk and pure grit to achieve what other peers have not been able to duplicate.

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“Our approach is to miniaturize the robot, make it more economical and make it more seamless in terms of how it integrates into the operating room environment,” Think Surgical’s CEO Stuart Simpson tells Bloomberg Intelligence. In this Vanguards of Healthcare episode, Simpson sits down with BI analyst Matt Henriksson to discuss how the company developed the TMini robot based on understanding what the surgeon was trying to achieve and working backward. This resulted in a handheld robot that provides optionality over the large form factors of other robotic systems while giving surgeons the choice of knee implant. Both features are well suited for the shift of knee replacement procedures to the ambulatory surgical setting. We also dive into the planned launch of Think Surgical’s TMini 2.0 in the first quarter of 2027.

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“We don't want to follow the crowd, we want to steer our own path into what we think are the most exciting opportunities for patients.” says Fiona Marshall, President of Biomedical Research at Novartis, joins Bloomberg Intelligence analyst Sam Fazeli to explain the biology-first, modality-second philosophy shaping R&D. Marshall details how Novartis is building radioligand therapy beyond Pluvicto into a broad portfolio across tumor types, while treating delivery as the bottleneck for expanding siRNA beyond the liver. The discussion also explores neuroscience as a growth bet built on earlier diagnosis and intervention, plus why AI productivity depends on embedding data scientists across the organization and training models on Novartis's proprietary data.

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“Your doctor has more outdated technology than your Uber driver does,” Abhinav Shashank, co-founder and CEO of Innovaccer, tells Bloomberg Intelligence analyst Jonathan Palmer in this episode of the Vanguards of Healthcare podcast. Shashank explains why fixing healthcare’s fragmented data infrastructure is the foundation for the industry’s AI future and why long-term value will accrue to companies that own the data layer rather than the user interface. He also traces Innovaccer’s evolution from a data startup into a platform spanning 80 million patient lives, and argues that “autonomous healthcare” could strip hundreds of billions of dollars of administrative waste. The conversation explores the economics of AI, the danger of poorly designed automation, how acquisitions are filling gaps and Innovaccer’s ambition to reach $1 billion of annual recurring revenue.

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“We started using AI to enhance algorithms and software to better be able to understand the data that’s in each patient’s ECG. And our goal with that was to bring forward personalized medicine in arrhythmia therapy and improve patient outcomes,” Vektor Medical CEO Rob Krummen says while discussing vMap. In this episode of the Vanguards of Healthcare podcast, Krummen sits down with Bloomberg Intelligence analyst Matt Henriksson to discuss the expansion of the vMap system, which uses standard 12-lead electrocardiogram (ECG) readings to help physicians treat arrhythmia cases, including atrial fibrillation. He also covers the company’s strategy to democratize electrophysiology and get patients to ablation treatment as early as possible.

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“Our focus is really on patients who’ve lost a lot of kidney function, 70 to 75% or even 80% of their kidney function,” says Bruce Culleton, CEO of ProKidney. “They’re on the path to needing a transplant. Despite all the advances in treating patients with newer products over the last few years, patients continue to progress. Our goal is to intervene directly before dialysis and keep patients off dialysis for as long as possible.” In this Vanguards of Healthcare podcast episode, Culleton sits down with Bloomberg Intelligence senior analyst Ann-Hunter van Kirk for an in-depth discussion about how the company’s cell therapy could help delay dialysis and slow the progression of kidney disease.

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“We are not a passive capital partner.” Richard Lungen of HC9 Ventures, joins fellow co-founder and general partner Charlie Falcone to explain why their venture firm is built around operators, not financiers. The pair sit down with Bloomberg Intelligence analyst Jonathan Palmer for a wide-ranging discussion of the firm’s operator-led approach to venture investing. They explain how relationships with hundreds of healthcare executives provide unique insight into where the industry is heading, why they spend as much time creating commercial traction as writing checks and how AI is reshaping everything from administrative workflows to clinical decision support. The conversation also examines the venture environment, healthcare’s biggest structural challenges and how their own cancer journeys have strengthened their mission to back companies capable of meaningfully improving patient care while generating strong investment returns.

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“I think this is an incredible time to be investing in biotech.” Dr. Simeon George, founder and CEO of SR One, joins Bloomberg Intelligence analyst Sam Fazeli to explain why biotech’s next cycle will be global, selective and unforgiving. George traces SR One’s evolution from one of pharma’s oldest corporate venture arms to an independent firm with more than $2 billion raised. The conversation explores why AI’s real test is cutting development time and attrition, not just discovering targets, while also laying out SR One’s view on oncology crowding, neuro’s blood-brain-barrier challenge, China’s accelerating role in drug innovation and the importance of building companies around medicines that can truly change standard of care.

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“You show me the incentive and I’ll show you the behavior,” says Sach Jain, founder and CEO of Carrum Health. Jain joins Bloomberg Intelligence analyst Jonathan Palmer to explain why misaligned incentives sit at the heart of specialty care’s cost problem. Jain details how Carrum built a value-based marketplace around curated centers of excellence, surgeon-level quality data, bundled payments and provider risk, giving employers more predictable costs while offering patients a guided care path with fewer surprise bills. He also discusses specialty care’s $2.5 trillion annual spending, Carrum’s reach across almost 7 million lives, its expanding health-plan partnerships and why AI can either intensify the fee-for-service arms race or help providers prevent complications when incentives are aligned.

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