You might consider Mike Regan a “professional matchmaker,” given his knack for helping curate the companies, people, and partnerships that shape Fogarty Innovation.
Regan joined the organization as chief innovation officer in 2018, bringing 35 years of industry experience spanning general management, product development, operations, sales and marketing, clinical, regulatory, and engineering. While he modestly refers to himself as a “generalist, rather than a champion at any one thing,” everyone who works with him is well aware that his skill set is anything but ordinary.
“Mike makes it look effortless, but the truth is that his perspective is shaped by decades of firsthand experience,” said Dominique Filloux, Fogarty’s chief development officer and a longtime colleague of Regan’s. “That depth allows him to apply pattern recognition not only to evaluate prospective companies, but also to help our resident entrepreneurs optimize their progress and avoid problems they may not even see coming.”
Moreover, Regan combines this expertise with an intuitive understanding of how different people operate and how best to connect with them. “He’s the epitome of a people person,” Filloux continued. “He’s a great listener and has a way of getting to the heart of an issue by asking thoughtful questions rather than talking at people.”
That approach, combined with his signature humor, puts others at ease and builds alignment that helps teams move plans forward. “I use humor because life’s too short not to enjoy it. I try to poke fun at myself or others in a kind way to loosen people up,” Regan said.
The human side of leadership
Regan credits much of his success to mentors who took a chance on him, giving him leadership roles even before he felt fully prepared. “I learned to get comfortable with uncertainty and being challenged in new ways, which has been incredibly valuable when working with entrepreneurs,” he said. “In this industry, we’re constantly responding to new information and shifting data, with the understanding that we may need to pivot.”
His experience in team sports, rather than individual ones, also taught him the benefits of collaboration—a skill he now uses to nurture teamwork and a supportive ethos in others.
By relating to startup teams on a human level, he can cut through some of the uncertainty and stress they feel over day-to-day obstacles, from waiting on critical information to dealing with progress that sometimes feels slower than it should.
“Everyone here is incredibly smart and knows what they need to do and how to do It. But this can still be a lonely endeavor—our entrepreneurs are trying to change the world, and that’s a tall order,” he pointed out. “Each of them brings extraordinary talent and a record of accomplishment, yet there are countless challenges involved in turning an idea into reality. Our goal is to help them stay steady throughout that journey by providing the support they need to navigate the obstacles along the way.”
In fact, Regan sees that goal as something of a calling. “You want them to keep at it because the world needs problem solvers. I can’t think of a better role—a bigger privilege—than helping our entrepreneurs as they work to bring solutions to our world’s many challenges,” he said.
The art and science of company selection
Regan is on the front line of deciding which companies join Fogarty, which he admits is challenging, given the high number and quality of applicants. And because there’s no clear formula to guide those decisions, he relies heavily on experience, judgment, and support from the Fogarty senior team. “There is no rubric—it’s more about taking a chance on a team and an opportunity,” he said.
Even so, three key factors consistently distinguish the strongest candidates:
First is the individual or team themselves. “We want to ensure they’re going to be problem solvers who are committed to bringing forward a solution to a meaningful clinical challenge,” he explained.
Second is that they’re addressing a large unmet clinical need. “We are less inclined to try to do the fifth generation of a device,” he said. “We want to focus on something that’s impactful and differentiated.”
The third consideration is whether the team sees a clear path to funding, not just in the early stages, but all the way through getting the device to patients and their families.
In simpler terms, Regan boils it down to: “So what, who cares, and why do they care?” (a phrase he credits to Mike Carusi at Lightstone Ventures). In other words, how will solving this problem improve the world, what will the ultimate impact be, and why will it matter? That impact could be better patient outcomes, safer, more efficient workflows, or a treatment that’s less expensive.
“Thinking about these elements helps us understand whether applicants are on the right path and whether we can coach and mentor them to success,” he said.
He adds that it’s a two-way street, as Fogarty is also looking for people who will contribute to the community and help “raise the tide,” by introducing new approaches, techniques, and knowledge (such as machine learning and AI capabilities) that will help the organization continue to evolve.
Just as importantly, the startups should also be focused on interpersonal relationships. “Medtech innovation is a full-contact sport, and we need people who are going to help their teammates get up and get out there again tomorrow,” Regan said.
Currently, Fogarty is overseeing 22 companies, 10 on-site and 12 based elsewhere in the U.S. and internationally. While virtual capabilities expand Fogarty’s abilities to serve more startups, Regan believes it’s an incredible benefit to be co-located with like-minded people, from the camaraderie to the sharing of ideas. For that reason, Fogarty gives preference to companies able to be physically present in the facility.
Building partnerships to amplify impact
In addition to helping choose startups, Regan helps oversee Fogarty’s corporate programs such as its relationship with Mitsubishi, a leading Japanese medical technology company.
He’s also helped expand a suite of programs in Singapore, starting with Singapore Biodesign (SB), a global affiliate of the Stanford Biodesign program that grew into a mentoring program, and the SB BOLT Initiative, which matriculated into the Agency for Science, Technology and Research (A*STAR) and eventually MedTech Catapult, a $38 million national initiative hosted by A*Star that aims to speed up the development and commercialization of life science instruments and medical devices.
Valuing relationships above all
While the work with the companies and other partnerships energizes him, Regan never overlooks the honor of working alongside the impressive Fogarty staff. “I’m really proud to be associated with such an amazing group of people. I get to spend every day with friends—some of whom I’ve known for 30 years and others I’ve just met recently.”
But the thing he’s most proud of? “I really enjoy my career in medtech, but what I cherish most is being married to Theresa, my wife of 36 years, and raising our two daughters, Carly and Julie,” he said.