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|Articles - July 2010|
|Friday, June 25, 2010|
Dick Sass has 45 years’ experience starting companies, creating jobs and running businesses. One thing he’s never tried is launching a venture capital fund — until now.
Sass, 67, recently partnered with medical devices expert Brian Brandell and longtime Portland investors Wayne Embree and Brock Metcalf to launch the Biomed Innovation Fund. His goal is to raise $20 million to help young companies that have developed “extraordinary technologies.”
Turning extraordinary technologies into jobs has been a consistent theme throughout Sass’ career. After moving to Oregon from Chicago in 1975 he launched Precision Interconnect in Wilsonville. Precision took cable technology developed by previous generations of engineers (including Sass’ father and grandfather) and vastly modernized it for use in ultrasound machines. Sass built Precision from a few dozen employees in the 1980s to 500 in 1991, when he sold the company.
Following that sale Sass founded two companies focused on wiring cable into a whole new arena: the human body. iSense, launched in 1995, develops continuous glucose monitors for people with diabetes. MicroHelix, launched in 1997 and sold to St. Jude in 2003, creates cable systems for medical devices that are implanted inside the body, such as pacemakers.
Between taking MicroHelix public and developing a $17 million partnership between iSense and an unnamed pharmaceutical giant, Sass has learned some lessons. He also knows about roadblocks. His plan with iSense was to get a product to market within five years; it’s been 15 years and counting.
Now he hopes to put both good and bad experiences to work, mentoring entrepreneurs supported by his new fund.
“A lot of venture funds are run by young guys with MBAs who are book smart but have no operational experience,” he says. “I’ve got a PhD in running companies and satisfying customer needs.”
Sass has already begun reaching out to promising young companies hungry for capital, as well as established pharmaceutical and medical device giants in need of new products to feed their pipelines. He plans for the $20 million fund to be the “first of several.”
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Thursday, July 30, 2015
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The sweltering weather didn't keep the crowds away. Although the numbers were down slightly from last year, the Oregon Food Bank raised $850,636 to fight hunger. About 80,000 people attended despite temperatures in the upper 90s.
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BY JACOB PALMER
Dean of the Atkinson Graduate School of Management, Willamette University
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Telemedicine, new partnerships and real estate diversification make health care more accessible in rural Oregon.
Thursday, August 20, 2015
BY DAN COOK
The state’s angel investing fund gets hammered in Salem.
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Transforming the culture of Oregon’s educational leadership.
The Board dismissed a petition related to efforts to unionize the Northwestern University football team.
Every once in a while we receive a letter in the (fictional) mailbag that is tough to describe and quite compelling. This week, Isabel, the new HR manager at LabCo (and someone who is new to HR), wants to know whether she may fire the owner’s son for having an Oregon medical marijuana card. In passing, Isabel also makes a number of alarming admissions about her motivation. Here is Isabel’s nerve-racking question and our response to it.
Oregon Sick Leave is here, and changes to the federal white-collar worker regulations are on the way. This workshop will prepare you for both. We invite you to participate in an interactive discussion on how to start planning now for the future impact on your operations and finances.
Presented by OEN + CENTRL + YESpdx.
This Roundtable will cover numerous issues under the employer "shared responsibility" rules of the Affordable Care Act, including how to track the "full-time" status of variable-hour employees, temporary or seasonal employees, and employees who experience a change in status or a break in service. Additionally, we will provide a brief overview of Code sections 6055 and 6056, which require most mid-sized and large employers to submit their first information reports to the IRS in early 2016 regarding the health insurance coverage being offered to employees. We invite you to participate in an interactive discussion on how to prepare for the future impact of the shared responsibility rules on your operations and finances.