Boston Scientific is a company that develops and distributes potentially life saving medical devices across a broad range of specializations ranging from intervention based radiation treatments to stents that keep arteries open. It's an important operation and overhead expense for research, clinical trials and the development of prototypes prior to making any money on a new product can be wild. It takes a very special and talented executive to successfully lead such a company and Mr. Michael F. Mahoney is the CEO in charge of the company. It's a sizable responsibility, but he's been doing an excellent job of managing the multi-faceted business. If you're not familiar with Mr. Mahoney, he's a top leader with an impressive CV and here are 10 things you didn't know about Boston Scientific's chief executive.
1. He's educated in in finance and administration
Prior to embarking on his career, Michael Mahoney attended college at the University of Iowa and he earned a BBA in Finance. He continued on after receiving his four year degree. Michael earned his MBA degree at Wake Forest University at the Babcock Graduate School of Management.
2. Michael is the second most "liked" CEO
There is nothing easy about leading a major company like Boston Scientific, and sometimes leaders at the executive level must make choices that are not popular, but putting all of that aside, Mahoney was named the "second most liked CEO" according to Mass Device by the employee's choice sponsored by Glassdoor.com, only bested by Eric Yuan of Zoom Video Communication.
3. He's skilled at achieving multiple objectives simultaneously
In the time that Mr. Mahoney has been with Boston Scientific, he's set and achieved two very important goals and these are improving the patient outcomes through the development of new and innovative healthcare products while making them affordable. It takes time and money to develop new medical devices and making them both affordable and accessible is a very difficult task to accomplish. He understands that if the people these devices are intended to help cannot afford them then sales will be minimal. He's brilliant at working with numbers and he leads Boston Scientific in a direction that will produce effective products in ways that are efficient and economical.
4. Michael Mahoney is contributing to a healthier society
One of the goals that Mr. Mahoney has set is to improve patient outcomes. This requires a working knowledge of the problems that the company is working on solutions for, and a team of experts who can explain the problem, what is needed and how they must proceed in developing the solutions. Mahoney's job is crunching the numbers and setting the course that will help them in the development of life saving products in a manner that keeps the cost low and keeps the shareholders happy as well. Since he's been on board as president, CEO and member of the board, Boston Scientific has been successful in developing several medical devices which are improving the lives of thousands of people if not more and he leads the team that is making this difference in real people's lives.
5. Michael has previous CEO experience
Prior to joining Boston Scientific, Michael Mahoney had already been at the helm of a major company. He was employed with GHX and joined their team in 1999. He was with the company for a little over six years as their CEO. He came on board with Boston Scientific with a working knowledge of what it was like to steer a company in the healthcare industry, which is no small feat.
6. He gets excited about new developments that improve the quality of life for others
When asked in an interview with glass door what energizes him, Mr. Mahoney indicated that it was pride in the impact that the work that they perform at Boston Scientific has on real people in need of medical interventions to live a healthier life. He gets excited when he visits the labs and learns about new devices that engineers are working on and he also loves working with the marketers out selling the devices as well as the customers. The bottom line is that he's stoked whenever he sees evidence that the work they're doing has a positive impact on the lives of real people.
7. He started out at General Electric Medical Systems
When Michael Mahoney was just getting started in building his career, he worked for the General Electric Medical Systems company. He was with the company for 12 years and it was there that he worked his way up to positions with increasing levels of responsibility. He learned a great deal about healthcare systems, equipment and devices, as well as management principles which are specific to the healthcare industry. He worked his way up to a General Manager position and today, he is a director for AdvaMed.
8. 25 Years of Experience
He brings a quarter century of experience to the table medical equipment and device development industry. He worked at Johnson & Johnson in their medical devices and diagnostic division and learned the basics, while building his vast database of knowledge with hands on experience as well as observational learning. Throughout his career and work with several major healthcare equipment providers, he's learned the ins and outs of building medical devices that will lead the market, about the healthcare IT business and capital equipment. He has a solid foundation and his advisement on such matters is souht out by others within the industry. He's a member of the Baxter International board of Directors as well as the Boston College CEO Club Board of Governors, and he also serves the American Heart Association CEO roundtable group as a member.
9. He believes in a higher purpose and passion
Michael Mahoney is free to share his purpose and beliefs about the job that he does and it's personal for him. His grandfather was a pediatric cardiac surgeon and he had a profound influence upon Michael's life. Although Michael did not become a surgeon like his elder, he is in a profession that supplies aids that help surgeons to improve the lives of patients. He has a passion for what he's doing and he is intimately involved in work that is inspired by a higher purpose to help others.
10. Michael is a family man
Michael is a busy executive and he's involved in the running of a large company that makes a difference in the lives of people in need of solutions for their healthcare problems. It's an ominous task to fulfill all of the goals set forth by the company, its board and its shareholders, but amazingly, he's been doing it well since 2012. But there's more to Michael Mahoney than the business aspect of his life. He's also a guy that is married and has a family as well. Mike and his wife have three children together and he does have a full life outside of work.
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Written by Dana Hanson
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