Chief Executive Officer, Bedside Bike

Company Overview:

Boomerang Ventures combines a venture studio and venture fund to provide capital and hands-on expertise to very early-stage life science start-ups to build them more quickly and effectively toward a fast, lucrative exit. First time founders needing business, technical and other expertise to form and build a new company are a good fit for the Studio.

Bedside Bike, one of our studio’s portfolio companies, is a comprehensive mobility solution that prevents hospital-acquired deconditioning through a lightweight, bed-mounted exercise device paired with integrated software. Our mission is to provide an innovative, evidence-based device to allow independent use for upper and lower limb exercises for inpatients to decrease or eliminate deconditioning and decrease length of hospital stays. This is achieved with a lightweight device with stable bed attachment, and the integration of data that delivers actionable mobility data directly to clinicians, and gains 2+ hours of PT without more staffing.

Position Summary:

As the CEO of Bedside Bike, you will lead the strategic vision, execution, fundraising and growth of our pioneering startup. This role requires a visionary leader who can navigate the complexities of the healthcare landscape, consumer behavior, and technology innovation.

Role and Responsibilities:

• Strategic Leadership: Execute the company's short and long-term strategies to drive growth, market penetration, and sustainable competitive advantage.
• Team Building and Management: Recruit, inspire, and lead a multidisciplinary team, fostering a culture of innovation, collaboration, and excellence.
• Product Development and Innovation: Oversee the development and refinement of innovative technologies for this comprehensive mobility solution that prevents hospital acquired deconditioning, leveraging the latest research, technology and best practices.
• Partnerships and Alliances: Cultivate strategic partnerships with healthcare providers, hospital systems, inpatient rehabilitation departments, SNF, LTACH, clinicians, and industry stakeholders to expand the company's reach and impact.
• Regulatory Compliance: Ensure adherence to all relevant regulations and standards within the healthcare and consumer technology sectors.
• Financial Management: Drive financial performance, manage budgets, secure funding, and optimize resources to achieve company goals.
• Market Positioning and Branding: Define and execute effective marketing and branding strategies to position Bedside Bike as a leader in medical devices, pain management solutions, and/or virtual reality.
• Fundraising: Lead the development and execution of a comprehensive fundraising strategy to secure capital from venture capitalists, angel investors, and other funding sources, ensuring alignment with the company’s growth objectives and financial goals.

Target Profile:

• Minimum 5-10 years of experience in executive roles, with proven track record both in corporate settings and venture capital (or private equity environments) as a President/CEO.
• Ideal candidate will have exposure in medical or other bedside devices as well.
• Strongly prefer experience working within startups in key healthcare sectors, such as hospitals, LTACH, Skilled Nursing, inpatient and outpatient rehabilitation, assisted living, and home health.
• Demonstrated ability to drive business growth through strategic planning, fundraising, and financial management.
• Strong leader who takes ownership of results and motivates cross-functional teams to succeed.
• Collaborative team player who leverages strengths and addresses weaknesses.
• Visionary thinker with a hands-on approach to problem-solving; adept at managing risks and making informed timely decisions, often with small data sets after prudently balancing risks/rewards.
• Develops compelling investor narratives based on clear milestones and risk mitigation strategies to meet fundraising needs.
• Builds and nurtures connections within the entrepreneurial ecosystem, including investors and industry stakeholders.
• Passionate about exploring new markets and improving healthcare outcomes.
• Strategic yet action-oriented, with a strong sense of urgency in execution.
• Broad knowledge of life sciences, including regulatory issues and market dynamics.
• Analytical thinker who synthesizes data to validate customer needs and support product-market fit.
• Exceptional communicator, capable of engaging stakeholders, investors, and the broader community. Adept at approaching and discussing difficult topics respectfully.
• Innovative mindset focused on making a meaningful impact on public health and wellness.
• Strong project management and prioritization skills to ensure effective business execution.
• Closely matches the Boomerang Studio Core Values: Collaborative, Innovative, Results Driven, Problem Solver, and Customer Oriented.

Benefits:

• Competitive base salary for a venture start up, and performance-based incentives.
• Comprehensive health, dental, and vision insurance.
• Flexible work arrangements.
• Opportunities for professional development and growth within the Studio.

Compensation:

• $90,000 + equity

EXPECTED RESULTS AND METRICS OF SUCCESS:

• Meet key deliverables including fundraising targets, development, and implementation milestones.
• Timely and effectively executes BLS stage gate deliverables.
• Improves business processes and execution of each stage.
• Attracts new talent and retains top talent with the company

COMMITMENT EXPECTED:

• Full time of 40 hours per week or more as needed and located in Indianapolis, or remotely in a professional atmosphere.
• Travel and after-hours work as needed to build and maintain business and community relationships.

The duties and responsibilities described in this job description may not be a comprehensive

list. Additional tasks may be assigned to the employee from time to time and/or the scope of the

job may change as necessitated by business demands.