Expert Details

Expert in Business Planning and Development, Market Researsh, Growth Strategies, Due Diligence, Medical Device

Expert ID: 729063 Canada

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Expert received his MBA from the University of Toronto’s Rotman School of Management, one of the world’s best business schools renowned for its integrative thinking approach. A serial entrepreneur, he founded and built two companies from business startups into multi-million-dollar small businesses: In 1999, he founded the Hearing Rehabilitation Center Aurora in Kiev, Ukraine in 1991, a full-service hearing healthcare company with a most advanced clinic and national distribution of hearing aids and audiological equipment. Having conducted research at the University of Toronto, he founded the Toronto-based Vivosonic Inc in 1999. This required the vision, clear business strategy, long-term and short-term strategic business planning, financial projections, customer-centric business organization, continuous business analysis and implementation of the strategies. At Vivosonic, Expert lead the commercialization of technology developed at the University of Toronto which resulted in a number of innovative, patented products successfully launched in the US, Canada and internationally over 2001-2010. Strategic planning and marketing, thorough marketing and sales planning resulted in sustainable revenue growth, particularly a 90% compounded annual revenue growth rate over 2005-09 at Vivosonic. Expert wrote a number of proposals for strategic partnerships, as well in response to RFPs. His international trade knowledge and business development skills resulted in Vivosonic’s 99% global exports through a network of distributors. Customer-centered, focused, UVP-backed strategy and strategic sales planning allowed both companies to successfully navigate through numerous economic slowdowns and the 2008/2009 crisis – with 60% revenue growth at Vivosonic. Business organization and operational efficiencies resulted in a continuous product cost reduction, particularly at Vivosonic product costs were reduced by 20% during the recent economic crisis. Executive management and decision-making techniques were honed through years of service as the President and CEO of the above companies. In 2009, Expert formed Falcon Business Development which provides management consulting services in business development, strategy, business analysis, planning, obtaining debt and equity financing, due diligence and company valuation in M&A with lower risk, as well as the sale of businesses with greater return.

When Expert started his first company in 1991, the private consumer market for hearing aids in Ukraine didn’t exist. The company has since developed this market and become its unsurpassed leader through strategic market planning and strategy execution. He developed new markets for the novel diagnostic audiological equipment which a unique value proposition (UVP) of enabling pediatric assessment without sedation and anesthesia. At both companies, thorough market research, identifying customer needs and proper customer segmentation allowed formulating clear, concise and compelling UVPs and communications for each targeted customer segments. Strategic marketing planning was also based on regulations, industry position statements, evidence-based practices, reimbursement structures, research in related fields, and closely following the competitive dynamics. Expert’s academic knowledge and practical experience allows providing consulting services in market development, strategic marketing planning and execution, customer segmentation and formulating strong value propositions and communications to target customer segments in a wide variety of industries.

Canadian Academy of Audiology (2000-2001). CAA and the Canadian Hearing Health Care Industry. The project resulted in a report and recommendations on how to raise the CAA profile to a level of recognition by the federal and provincial governments and political strategy to better manage CAA’s relations with the governments.Rotman School of Management (2000). Study project: A review of the strategic intent of Bell Canada Enterprises to move from a telephony company to an internet company. The project resulted in recommendations on improving corporate coordination mechanisms, moving the emphasis from financial to operating control systems, customer-management systems, financial systems, and marketing strategy development.Poul Madsen Medical Devices Inc. (1996-1997). World market research for the Auditory Assessment System AAS 9000. The project resulted in NRC funding.

Education

Year Degree Subject Institution
Year: 2002 Degree: MBA Subject: Business Administration Institution: Rotman School of Management, University of Toronto
Year: 1986 Degree: PhD Subject: Human Physiology Institution: Institute of Physiology, National Academy of Sciences of Ukraine
Year: 1977 Degree: MS Subject: Mechanical Engineering Institution: National Technical University of Ukraine (KPI)

Work History

Years Employer Title Department Responsibilities
Years: 2009 to Present Employer: Undisclosed Title: President Department: Responsibilities: Providing consulting services in general management, business planning, growth strategies, finance, strategic marketing, and other business areas.
Years: 1999 to 2009 Employer: Vivosonic Inc. Title: President & CEO Department: Responsibilities: Founded the company, formulated the vision and mission, long-term and short-term business plans and budgets, raised equity and debt financing. Reporting to the Chairman of the Board, managed the day-to-day affairs. Conducted market research, prepared business plans, developed mission statement, vision, strategy, budgets and plans. Formulated unique value propositions, marketing strategies and plans, developed copies of marketing materials and presentations. Presented at numerous events in the US, Canada, and internationally on the company, strategy, technology, products, and marketing. Managed product development, production, and regulatory submissions (FDA, Health Canada, and CE Mark) for Vivosonic products in 1999-2003. Established distribution network in the US and worldwide. Led the company to receive the Frost & Sullivan 2007 Award for Technology Innovation.
Years: 1996 to 1999 Employer: University of Toronto Title: Post-doctoral Scholar Department: Institute of Biomterials and Biomedical Engineering, and Faculty of Management Responsibilities: Participated in research and conducted market research and surveys in the US and Canada for a multi-function diagnostic device. Conducted design, testing, and commercialization study of an auditory mini-screener.
Years: 1991 to 1996 Employer: Hearing Rehabilitation Center Aurora Ltd. Title: President & CEO Department: Responsibilities: Developed the company’s mission, vision, strategy, and structure; corporate and marketing strategy, tactics, long-term and annual plans and budgets, managed the company’s day-to-day business. Established and maintained relations with the Parliament, President’s Administration, federal and regional governments, Ministries of Health and Education, regional health and educational authorities, universities, major hospitals, and manufacturers organized and managed market research and marketing of audiology products and services to the hearing-impaired and healthcare professionals and organizations in Ukraine. Organized participation in national and international trade shows and conferences.
Years: 1990 to 1991 Employer: Techinformkomplex Enterprises Corporation, Kiev, Ukraine Title: Director Department: Medical Device Division Responsibilities: Established and managed the Medical Device Division. Developed the vision and mission, strategy and oversaw product development.
Years: 1977 to 1990 Employer: Institute of Otolaryngology, Kiev, Ukraine Title: Senior Researcher, Group Leader Department: Laboratory of Audiology and Vestibulology Responsibilities: Managed a research group: Determined the direction of five-year research plans and annual plans; planned and budgeted research projects; conducted research; compiled annual and five-year reports; managed the group on the day-to-day basis.

Government Experience

Years Agency Role Description
Years: 1992 to 1993 Agency: Ministry of the Environment of Ukraine Role: Expert Description: Participated in the Inter-governmental Project with the Ministry of the Environment of Denmark. Researched with Ukrainian and Danish partners the areas of collaboration, visited the Ministry of the Environment of Denmark and major Danish clean-energy manufacturers (wind power and solar), and industrial air-cleaning solutions (electrostatic filters for coal power-plants), identified and recommended the areas of inter-government collaboration to reduce air pollution. The project initiated and resulted in a long-term environmental agreement between the governments of Denmark and Ukraine.

International Experience

Years Country / Region Summary
Years: 2010 to 2010 Country / Region: Turkey Summary: Assisted in company valuation and negotiation of a partial equity sale to a large multi-national corporation.

Career Accomplishments

Associations / Societies
Mississauga Board of Trade;
American Academy of Audiology (AAA);
Association for Research in Otolaryngology (ARO);
American Auditory Society (AAS).
Awards / Recognition
Frost & Sullivan 2007 Technology Innovation Award;
Nominated for 2009 and 2010 Premier’s Catalyst Awards;
Short-listed for the 2009 Manning Innovation Award.
Publications and Patents Summary
Expert has 5 US patents, patent applications pending, published more than 150 papers in the medical, healthcare, and business-related fields.

Additional Experience

Expert Witness Experience
Served as an expert on the Networks of Centres of Excellence (NCE; www.nce.gc.ca): Canadian Language and Literacy Network Expert Panel, November 27-29, 2000, Toronto, ON.
Served as an expert in the committee on The State Policy on Medical Devices: Department of Humanitarian Policies, Administration of the President of Ukraine. 1994-1995, Kyiv, Ukraine.
Training / Seminars
Business Strategy;
Marketing Strategy.
Vendor Selection
Oticon A/S, Denmark – hearing aids.
Interacoustics A/S, Denmark – audiological equipment.
RMF & Associates, Artaflex – contract manufacturers.
HP Canada – computers.
Entela – regulatory testing.
Marketing Experience
Medical device industry, particularly hearing aids and diagnostic equipment;
Healthcare industry.
Other Relevant Experience
Analytical skills, stakeholder analysis, customer consultations and surveys, customer segmentation, UVP formulation, SWOT, VRIO, valuable resources, Value Chain, analysis of business issues & challenges, industry driving forces and trends analysis.

Language Skills

Language Proficiency
Russian Expert is fully fluent and an excellent communicator in written and oral Russian.
Ukrainian Expert is fully fluent and an excellent communicator in written and oral Ukrainian.

Fields of Expertise

business, business analysis, business development, business management, business operations, business organization, business plan, business startup, business strategy, commercialization, corporate strategic planning, decision-making, employment, entrepreneurship, executive management, international trade, management, product launch, proposal writing, sale, sales planning, small business, strategic partnering, strategic planning, strategy, hearing, hearing aid, market development, strategic market planning, strategic marketing, value proposition, corporate culture, unique value proposition, business case, intellectual property due diligence, ear, market share, market segmentation, corporate governance, health care, due diligence, product launch, business to business, business economics, corporate finance, medical device marketing, niche marketing, multilevel marketing, medical marketing, consumer marketing, health care market research, B2B market research, business analysis, change management, branding, investment, business process management, customer segmentation, business valuation, market, economic market development, customer satisfaction, commercialization, business startup, market positioning, brick and mortar, business ethics, entrepreneurship, business operations, marketing mix, marketing brand management, distribution channel, strategic market planning, market assessment, consumer survey, finance, marketing communications, direct mail, market trend, competitive benchmarking, market potential, team building, business intelligence, time-to-market, competitive intelligence, bone conduction, cost evaluation, education, consumer product marketing, European marketing, international marketing, international trade, deafness, aural signal, audiometer, market forecasting, biomedical product development, competitive analysis, medical equipment marketing, distribution, international licensing, auditory psychophysics, marketing, innovation, organization

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