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Section B • January 25, 2019

By GIOVANNI ALBANESE Jr.India-West Staff Reporter

Indian american inter-ventional cardiologist and serial entrepreneur dr. Jay Yadav is making a difference in a multi-

tude of ways.He’s the founder of several

successful companies and is cur-rently heading MiRus, a privately held medical device company fo-cused on the design of innovative solutions for treatment of spinal and orthopedic degeneration and deformities, which he founded and serves as the chief executive officer.

Yadav has a long history of inno-vation and commercialization of novel technology focused on the development of new treatments for disease.

among the companies he has founded include CardioMEMS, which was acquired by St. Jude Medical; angioguard inc., ac-quired by Johnson & Johnson;

and he was the first investor and director of SMaRT Therapeutics, acquired by Boston Scientific.

His scientific and entrepre-neurial work has been widely recognized, having received these honors: american Heart associa-tion Top Ten Scientific advances, 2003; Ellis island Medal of Honor, 2004; 50 Best doctors in the His-tory of the Cleveland Clinic, 2011; Ernst and Young Entrepreneur of the Year (healthcare), 2011; intel innovation award, 2011; his procedure for stroke treatment became a Class i recommendation of the american Heart associa-tion and the american College of Cardiology, 2011; american Heart association Honoree, 2016.

But it’s not all about his entre-preneurial achievements. Yadav wants to help the indian american community as well through the EB-5 visa program.

India-West was able to catch up with Yadav to ask about him, his ventures and what he’s doing

Entrepreneur, Innovator Dr. Jay Yadav Making a Difference in the Medical Industry and Beyond

Serial entrepreneur Dr. Jay Yadav, who founded MiRus, was inspired to help individuals with spinal and orthopedic degeneration and deformities. The Indian American executive serves as the company’s CEO. (photo provided)

By GIOVANNI ALBANESE Jr.India-West Staff Reporter

MiLPiTaS, Calif. – More than 100 guests gathered at the india Community Center

Jan. 17 here to learn from a panel of experts how to obtain a visa and stay in the U.S. permanently.

Hosted by the Silicon Valley chapter of The indus Entrepre-neurs, or TiE, the program focused on helping the event-goers obtain an EB-5 visa.

Whether an entrepreneur, high-ly-skilled professional under an H-1B or L1 visa, H-4 visa holder, F1 student, J1 scholar or someone seeking green card information for friends and families, the panel proved helpful for anyone in at-tendance.

it featured prominent immigra-tion attorneys and licensed broker-dealers. among the speakers at the event, delivered in a fireside chat format, were Canam invester Services chief compliance officer

Pete Calabrese; Baker donelson shareholder and former chief counsel of the U.S. Citizenship and immigration Services Rob-ert divine; Miller Mayer partner Kristal Ozmun; Canam investor Services director of South asia and the Middle East abhinav Lohia; Canam investor Services manager of business development nilesh Shah; and TiE Silicon Valley’s in-dian american executive director Jay Visvanathan.

The experts told the guests how the EB-5 program is possible for them, saying that their path to per-manent residency doesn’t have to be complicated and never-ending. it discussed the current immigra-tion regime and set a road map for a better immigration option to the U.S.

The panel began by talking about the current landscape of im-migration, and what they are asked from immigrants dealing with the situation.

divine said that the government

The panel at the TiE Silicon Valley-hosted EB-5 program at the India Community Center in Milpitas, Calif., Jan. 17 featured (from second from left to right) CanAm Invester Services chief compliance officer Pete Calabrese; Miller Mayer partner Kristal Ozmun; Baker Donelson shareholder and former chief counsel of the U.S. Citizenship and Immigration Services Robert Divine; CanAm Investor Services manager of business development Nilesh Shah; and CanAm Investor Services director of South Asia and the Middle East Abhinav Lohia, along with Indian American executive Jay Visva-nathan (left) of TiE Silicon Valley, who served as the moderator. (Giovanni Albanese Jr./India-West photo)

TiE Silicon Valley Hosts Fireside Chat Helping Guests Navigate Path to an EB-5 Visa

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B4 – January 25, 2019 – INDIA-WESTBusiness/Finance

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to help the community. Following are excerpts from the interview:

IW: When you set out to get a medical degree, did you envision your career evolving to creating innovations to change the land-scape of the medical industry?

My first love was astronomy and I was not a premed major at Yale; I studied physics and biochemistry. I was fortunate to also get a broad education in the humanities and was particularly influenced by Gandhi’s autobiog-raphy “The Study of My Experi-ments With Truth.” I became convinced that whatever I did had to have some direct benefit to the average person. Medicine seemed a good avenue to combine this de-sire with science. I think the fact that both my parents were in the social sciences – my father was a sociologist and my mother was a psychologist –also led to a desire to provide some direct social ben-efit. Also, there are many doctors on my mother’s side, including my grandfather, which probably also influenced me.

I chose interventional cardiol-ogy because it arguably treats the sickest patients and also involves many aspects of physics and engi-neering. For me it’s been a perfect career, I have been able to take care of thousands of patients and also come back to some of my first interests and develop new techniques and devices that are being used by doctors around the world and helping tens of thou-sands of patients. So it’s been a nice combination of direct patient care as well as creating things that can be used by other healthcare providers.

IW: Can you talk about your time at the Cleveland Clinic?

I was recruited there by Fred Loop as a professor in the cardiol-ogy department. The Clinic has a great tradition in cardiovascular disease and I was able to continue and extend the work I had done in developing better treatments for patients with cerebrovascular disease. I had the satisfaction of treating patients from around the world with very complex and advanced cerebrovascular disease. I conducted the first suc-cessful randomized trial of a less invasive treatment called carotid stenting, which I had developed, for patients with severe blockage of the arteries supplying the brain. This procedure is now a Class I

Entrepreneur Jay Yadav Making a Difference in The Medical Industry

recommendation of the American Heart Association and the Ameri-can College of Cardiology.

I was also chairman of the Innovation department which encompassed the entire Cleveland Clinic and was responsible for en-couraging physicians to develop inventions and commercialize. Another very enjoyable aspect of my time there was training very talented cardiology fellows who have gone on to make many con-tributions to cardiology and have distinguished careers in academia and private practice. Several of them have also invented new devices and started companies.

IW: What led you to founding CardioMEMS?

Several years ago, I noticed that many heart failure patients were being admitted to the CCU again and again with pulmonary edema due to decompensation of their heart failure. These unfortunate patients often had to be put on a ventilator, a small tube was inserted into their hearts to get precise information about their cardiac function, and then their medications were adjusted on the basis of this information. Their treatment was very stereotypical and it occurred to me that if their cardiologists had more detailed information about their cardiac function a week or two earlier, the entire hospitalization and near death experience could have been prevented. Many of these patients were admitted two to three times per year and almost developed posttraumatic stress disorder be-cause they never knew when they might go into pulmonary edema, and it often happens in the middle of the night, so it creates a tremen-dous sense of stress and anxiety for the patient and their family.

So I started thinking about the problem and was there an elegant way to get intracardiac informa-tion from the patient’s home and transmit it to their physician or nurse on a daily basis and thus prevent the decompensation and hospitalization? I did not want to use traditional technology using batteries and wires (leads) as with pacemakers because the leads can create vascular complications and the batteries have to be replaced; all of which are invasive proce-dures and also quite expensive and pose a risk for the patient. So I wanted to create a solution that was elegant without batteries or wires. This is a very difficult,

fundamental physics problem and so it took quite a while to solve this problem of wireless energy transmission into the body while meeting safety and FDA consid-erations.

We also had the difficult task of creating stable sensor technology which does not require recalibra-tion. We solved both of these fun-damental problems. CardioMEMS is the first medical implant to be wirelessly powered and also the first medical implant completely wafer fabricated.

We then conducted a large, national randomized trial which demonstrated a huge reduction in hospitalizations, and more recent-ly there have been studies with our device by other investigators which have demonstrated mortal-ity reductions. CardioMEMS has saved many lives already and will save thousands more.

St. Jude Medical, which is a part of Abbott, was one of our inves-tors and had an option to buy the company which they exercised upon FDA approval. Given the tremendous global health burden of heart failure, it’s great to have a company such as Abbott dis-tributing the product through its large distribution network, which should enable the technology to be used by many people around the world.

IW: From that, you founded

MiRus. What was the inspiration behind founding it?

I’ve a number of friends in spine surgery as well as knee and hip surgery and was discussing with them some of the work we had done in developing new alloys that are superior to the currently used metals for medical implants such as titanium. I also mentioned the work we had done in new ap-proaches to surgical navigation as well as some analytic tools we had developed. They thought that these were very applicable to the spine and orthopedic space. I spent over a year doing my own due diligence and attended many meetings and spoke to many spine and joint surgeons, and was fasci-nated by the complexity of some of the problems that were being addressed as well as the great benefits that the technology we had developed could offer these patients.

The name MiRus, by the way, was coined by one of my children who has taken many years of Latin – it is the Latin root for miraculous and also a play on some of the ele-ments we are using in our alloys.

IW: What is MiRus? Whom does it benefit?

MiRus is focused on providing a comprehensive solution to the current problems in spine and orthopedic surgery. We start with patient intake and have software

that works in the background and is able to give the surgeon and the nurses precise information on the risk of surgery for that particular patient as well as the optimal tim-ing of surgery.

Then in the intraoperative phase, we have dramatically bet-ter implants than current implants as well as a different approach to surgical navigation. We are also developing a robotics platform for spine surgery. Very importantly. we are not forgetting what hap-pens to the patient after surgery and have a suite of software and wearable technology which is very easy to use and allows the patient to be connected to his care providers and provides an early warning system to reduce emergency room visits and hos-pitalizations. The entire system works together and is designed to improve efficiency and outcomes in the spine and orthopedic space.

I think the experience we have had in the cardiovascular space, particularly heart failure, is very applicable to the orthopedic space. Arthritis is also a chronic disease with many recurring procedures and hospitalizations and is a very expensive part of the healthcare system just like cardiovascular disease. There is a great need for more efficient chronic disease management, whether it be atherosclerotic disease or degenerative spine and joint disease. MiRus technology is designed to benefit the patient by making surgery less invasive and improving outcomes as well as our healthcare system by reduc-ing cost and improving outcomes.

IW: What are some of the things being worked on at MiRus?

As I mentioned above, we are developing a comprehensive suite of products that starts in the preoperative setting, through the intraoperative phase and into the post-operative setting. So it’s meant to help the surgeons and nurses take better care of the pa-tient from the initial clinic visit all the way to after surgery. We hope to launch our first implants this quarter, followed thereafter by ad-ditional implants and navigation products which will be coming out almost every month.

IW: How much funding have you received for this venture thus far?

We’ve been very fortunate that because of our track record, we have not had problems with fund-ing and capitalization. We have so far raised approximately $40 million.

IW: Any future plans for Mi-Rus?

We are delighted with the in-terest we have received from the spine surgery and orthopedic community at all levels. We have a great group of employees; we’re growing rapidly and our goal is to create a large spine and orthope-

In addition to MiRus, Jay Yadav founded and led several companies that he eventually sold to the likes of St. Jude Medical, Johnson & Johnson and Boston Scientific. Yadav also has a program he is championing that promises to help individuals through the EB-5 visa program. (photo provided)

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ing on in your career? I am fully focused in MiRus. It is

a tremendous opportunity which has my full attention. On the com-munity side, I remain involved with a number of boards such as the Westminster school in Atlanta, the Yale business school advisory board on entrepreneurship, and Georgia Bio, which is increasing awareness and education in the life sciences. I’m also involved in charitable organizations such as the America India Foundation, Akshaya Patra and the Boys and Girls Club.

IW: Lastly, talk about how you are helping the Indian American community through visas.

This is a program we are very excited about and the credit for this really goes to our COO Noah Roth as well as our VP of Sales

and Marketing Mahesh Krishnan. As you probably know the EB-5 program has typically been used in real estate and has not been used by technology or life science companies. We usually rely on venture capital and other equity base investments, but the idea behind EB-5 is very appealing. It is great to be able to help success-ful people from around the world who wish to immigrate to America or send their children here, and it is also great for our company because it provides non-dilutive capital and further accelerates our expansion. We have had a tremendous response to our EB-5 program because many people find the idea of investing in a life science company, which is creat-ing products to help sick people, very satisfying.

More information about MiRus can be found by visiting https://mirusmed.com.

Entrepreneur Jay Yadav Making a Difference in The

Medical Industry[Cont. from previous page]

potential penalties and hurdles along the way.

Shah explained how he went through the process himself and said it was a lot more pleasant for him that he had an immigration attorney help along the way.

Shah did say three things about the process to consider: pick the right regional center; pick the right, experienced immigration attorney; and pick the right project that en-sures the safety of the green card

and capital.As far as things to avoid, Shah

said to avoid Google searches; and don’t touch “guaranteed returns” because it is too good to be true.

“Trust the process,” Shah stressed.

The panel was then opened up to the group for a question-and-answer session that brought forth a plethora of personal situations each were dealing with along their personal processes. The event con-cluded with a networking session.

TiE-SV Hosts Fireside Chat Helping Guests with Path to

EB-5 Visa

By ARUL LOUISIANS

NEW YORK – Indian American business leader Indra Nooyi, who headed the multinational PepsiCo, is under consideration for head-ing the World Bank, according to multiple media reports.

If she is nominated by President Donald Trump to be the Bank’s president, she will succeed Jim Yong Kim, a Korean immigrant who unexpectedly announced at the beginning of the year that he is quitting.

By tradition, the U.S. president names the head of the global financial institution and the nomi-nation is rubber-stamped by the executive directors.

Nominating Nooyi, an immi-grant woman from a develop-ing country, could head off the mounting challenges to the U.S. role in determining the Bank’s presidency.

She would also fit the bill for Trump’s preference for the private sector and for making in-ternational organizations fiscally

more efficient.Trump’s daughter, Ivanka, who

is an admirer of Nooyi and con-siders her as a mentor, is said to be backing her for the bank job, according to media reports quot-ing anonymous administration sources.

Nooyi stepped down as chair-woman of the PepsiCo last August after leading the international soft drinks, food and snacks giant for 12 years.

When Nooyi was leaving Pep-sico, Ivanka Trump called her an inspiration and a mentor and gushed, “I am deeply grateful for your friendship. Thank you for your passionate engagement on issues that benefit the people of this country, and beyond.”

If Nooyi becomes the Bank’s president, the four top jobs in international financial policy-making would be held by women, two of them by women of Indian descent.

This month Gita Gopinath became the chief economist of the International Monetary Fund, which is headed by managing

director Christine Lagarde. The bank’s chief economist is Pinelopi Koujianou Goldberg.

Another Indian American, Nikki Haley, who stepped down as the U.S. Permanent Representative to the U.N. at the end of last year, is also on the list of candidates under consideration, according to The Financial Times. (See earlier India-West story here: https://bit.ly/2CqjkQa)

The former South Carolina governor was the first Indian American to be on the U.S. federal cabinet and she pushed the U.N. to cut its budget and enhance efficiency.

If Nooyi, who headed a multi-national with an annual revenue of $63.5 billion and assets of $79.8 billion, gets Trump’s nod, it will mark an ideological turnaround from former President Barack Obama’s orientation.

Departing from the tradition of economists or politicians heading the Bank, Obama appointed Kim, a medical doctor and academic, to reinforce the mission of fight-ing poverty and promoting what was considered a more holistic development.

But Kim also advocated greater cooperation with the private sec-tor for financing development, which Nooyi would strengthen if she gets the job.

During her tenure PepsiCo, Nooyi led its reorganization, shedding some parts of the con-glomerate.

The formal process of selecting

the nominee to head the bank is being overseen by a panel made up of Ivanka Trump, Treasury Secretary Steven Mnuchin and the president’s acting chief of staff Mick Mulvaney.

Although Trump has been criti-cal of international organizations and called for curtailing their budgets, he had – at least openly – a close relation with Kim and backed increasing the bank’s capital by $13 billion.

Nooyi had a rocky start in relat-ing to Trump: after his election she said that her employees were in “mourning.”

She, however, drew close to Trump as he began pushing busi-ness-friendly policies and firmer ties to business leaders.

Nooyi served on his business advisory council and has had din-ners with him and other business leaders at his golf club in New Jersey.

Indian American business leader and former PepsiCo chief executive Indra Nooyi, seen here with Indian Prime Minister Narendra Modi in New Delhi in December 2015, is being considered to head the World Bank. (PM’s Office/Wikimedia photo)

Former PepsiCo CEO Indra Nooyi Being Considered To Head World Bank

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