“Scott worked with me on developing the strategy that has helped us to achieve significant growth…I knew I could rely on Scott Edinger to help me, and he’s done that.”

President and CEO

Growth Fuels Company Valuation

The Need:

Part of the renowned Cleveland Clinic, the Cleveland Heart Lab (CHL) created a novel and proprietary test to measure myeloperoxidase (MPO), an enzyme that at elevated levels can be a predictor of serious health issues, such as heart disease.

As a new offering in the market, CHL’s goals were:

• Driving widespread adoption of the new proprietary test to fuel rapid growth
• Building a growth strategy to leverage deep relationships with healthcare providers to increase the adoption rate
• Cultivating a strategic sales team to function as advisors to healthcare professionals, rather than to sell transactionally

The Solution:

Working closely with CHL’s CEO Jake Orville, Scott formulated a growth strategy to foster greater adoption and use of the MPO test.

The strategy included:

• Coaching the CEO, senior executives, and the leadership team on establishing a culture of high performance to drive success
• Establishing clearly defined execution plans so leaders could underscore accountability
• Advising individual leaders on the executive team–from the lab, research & development, and sales–to improve their ability to manage ambiguity, complexity, and boost employee engagement
• Building a sales organization that moved from cozy relationships with medical professionals to a more consultative approach—demonstrating the test’s value to raise the adoption rate
• Aligning organization wide teams on the strategy so it could be executed at every level of the business

The Results:

• Revenue tripled and the company received an additional round of venture capital funding—elevating its valuation and laying the foundation for future expansion and potential acquisition.
• Quest Diagnostics acquired CHL in 2017 for $94 million, solidifying the company’s position as a leader in diagnostic innovations.
• The acquisition became the foundation for Quest’s Cardiometabolic Center of Excellence, a national first for the company.
• The MPO test is now a broadly used diagnostic tool, offering patients a deeper look into their cardiac health.