Spencer Jones | Lineus Medical

Transcript of Spencer Jones | Lineus Medical

 

Alan Olsen: I’m visiting here today with Spencer Jones he’s the founder of CTO at Linnaeus medical welcome to today’s show.

 

Spencer Jones: Thank you thank you good to be here so.

 

Alan Olsen: Spencer for the listeners what what’s been your journey to bring you up to where you are today?

 

Spencer Jones: Great question I was formerly a registered nurse and that’s how I got into healthcare broadly and is a pretty classic entrepreneurial story of I experienced the problem first hand when I was working the night shift as a registered nurse and thought there’s got to be a better solution there’s got to be a better way to solve this problem the problem I was dealing with was IV catheter dislodgement so right IV catheters getting pulled out inadvertently accidentally etc but really experienced a problem first hand was able to acquire some intellectual property around it through actually a couple different accelerator programs I was able to that kind of gave me the seed capital and then a little bit of the know-how and I came out of those a little bit dangerous right registered nurse with some intellectual property and some business training and then it was just about getting enough smart people to put around me and believe in me and that was kind of the you know the fruition or the start of my journey into entrepreneurship.
Alan Olsen: Lineus how did you come up with the name?

 

Spencer Jones: That’s a great that’s it that’s an even better question okay so we were originally site saver okay but there was a gentleman in Canada who owned the trademark it was dead trademark as they call it because he wasn’t using it but he still owned it we said okay well that’s not acceptable we couldn’t get a hold of them so we had to change the company name changed it to line guard Med and then a large multinational company 16 days prior to us filing for our trademark online Guardmed they filed for their trademark online guard meds fell slightly differently but still close enough and they sent us a cease and desist and so we were like okay we’re gonna make something up we want a fanciful word right like Google Pepsi it’s not anything they made it up right so we went through this list of long names and landed on the feds forward of Linnaeus it doesn’t mean anything other than well it does now right but at the time it was just completely made-up and fanciful words are a lot more easy to trademark right there’s usually not as much risk of infringement with those so that’s how we landed on Lineus.

 

Alan Olsen: What’s your vision for the future then vision for the future of Lineus?

 

Spencer Jones: You know we we really want to build a successful company and then get and when I say successful company that means something different to everybody right we want to get to really a particular revenue milestone and then kind of come up for air right it’s gonna be really hard work to get there so get to that milestone come up for air milestone come up for air and look around and say okay is there an exit opportunity on the table or if our growth trajectory is good and we see that we can in you know continue to invest and and grow out the sales organization and just keep growing then we may do that but really I think we’re my vision for the future how I would like to see it go is just to build a successful company I know that part of part of the journey is what you learn along the way and so I’m excited about the challenge ahead of you know finishing out this regulatory process with the FDA really getting my cutting my teeth as far as operating and training and growing a sales organization and the clinical education and all that and really just trying to build a successful company and whether we end up exiting and you know three years or whether we you know just have kind of a really successful company that we continue to own and manage either outcome is great for me I’m just excited to be along for this journey and I think there’s multiple successful visions that I would be happy with.

 

Alan Olsen: Very good I’ve been visiting here today with Spencer Jones Spencer where wish you the best best on the Lineus.

 

Spencer Jones: Thank you so much Alan I appreciate.

 

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About Lineus Medical:

Lineus Medical™ focuses on increasing the patient’s overall quality of care during IV therapy. We provide a safe solution to reduce overall IV complications requiring an IV restart.

Our SafeBreak™ Vascular device utilizes a patented “break-away” technology to create a separation in the IV tubing. Before securement and adhesives fail, the SafeBreak Vascular separates. This preserves the IV access line from becoming dislodged, which can lead to blood loss and infection. In a matter of minutes, a medical care giver can remove the separated SafeBreak Vascular and replace it with a new one so that the patient’s medical treatment can resume.

Source: LinkedIn

    Spencer Jones on Alan Olsen's American Dreams Radio
    Spencer Jones

    Spencer worked for 3 years in direct patient care as a Certified Nursing Assistant, Licensed Practical Nurse, and as a Registered Nurse. Frustrated with the inefficiencies plaguing the healthcare system, he was determined to play a role in improving the delivery of healthcare. In 2014, Spencer won the annual ARK Challenge, an Arkansas based business accelerator. The product he developed was a dual lumen peripheral IV called the BVAD, which focuses on painless and uncontaminated blood draws. While still working as a nurse in the clinical setting, Spencer identified another opportunity where improvement was needed around IV dislodgement prevention. This led to the birth of SafeBreak Vascular and the founding of Lineus Medical in 2015. Spencer graduated from the University of Arkansas with a Bachelor in the Science of Nursing. Spencer is on the Fayetteville Innovation Council and was the Entrepreneur in Residence for the Hub X Life Sciences Accelerator for 2016.
    Bio Source: lineusmed.com

    Alan Olsen on Alan Olsen's American Dreams Radio
    Alan Olsen

    Alan is managing partner at Greenstein, Rogoff, Olsen & Co., LLP, (GROCO) and is a respected leader in his field. He is also the radio show host to American Dreams. Alan’s CPA firm resides in the San Francisco Bay Area and serves some of the most influential Venture Capitalist in the world. GROCO’s affluent CPA core competency is advising High Net Worth individual clients in tax and financial strategies. Alan is a current member of the Stanford Institute for Economic Policy Research (S.I.E.P.R.) SIEPR’s goal is to improve long-term economic policy. Alan has more than 25 years of experience in public accounting and develops innovative financial strategies for business enterprises. Alan also serves on President Kim Clark’s BYU-Idaho Advancement council. (President Clark lead the Harvard Business School programs for 30 years prior to joining BYU-idaho. As a specialist in income tax, Alan frequently lectures and writes articles about tax issues for professional organizations and community groups. He also teaches accounting as a member of the adjunct faculty at Ohlone College.

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