How to Choose an Executive Search Firm for a MedTech Role

A leadership gap in a MedTech company rarely stays contained. An open VP of Regulatory Affairs seat can hold up a submission. A chief medical officer who can't connect clinical evidence to reimbursement can set a launch back by quarters. Because so much rides on these hires, the choice of search partner deserves as much scrutiny as the candidates themselves.

Firms that do this work range from global generalists with a healthcare practice to boutiques that work only in MedTech. Either can be the right choice. What matters is how a firm will actually run your search.

Why MedTech searches are different

The talent pool is small, and most of it isn't looking. The people who can lead a quality system through an FDA inspection, or build a commercial team for a new procedure, are almost always employed and doing well. They don't answer job postings. Reaching them takes relationships built over years, and enough credibility in the sector that they take the call.

The roles combine skills that rarely come together. A MedTech leader often needs regulatory, clinical and commercial judgment at once. A CTO has to move fast in a world of design controls. A sales leader has to understand how a hospital's value analysis committee decides. Recognizing who genuinely has that combination, and who only has the title, takes fluency in the industry.

Small mistakes in evaluation are expensive. A recruiter who can't tell a 510(k) clearance from a PMA, or who doesn't ask how a candidate handled a recall, will produce a shortlist that looks right on paper and falls apart in the first panel interview.

What to look for in a search firm

Real depth in your sector

Ask what share of the firm's work is MedTech, and in which parts of it. Medical devices, diagnostics and digital health each have their own buyers, regulators and talent pools. A firm whose work is mostly pharmaceutical or hospital administration will be learning on your search.

The people who will actually run it

In some firms, the partner who wins the work hands it to a junior team. Ask who will lead the search day to day, who will speak to candidates, and how much of their time your search will get.

Reach into passive candidates

Ask how the firm will find people who aren't looking: the networks it draws on, the research it does to map the market, and how it approaches people who are happy where they are.

How candidates are assessed

Ask how the firm evaluates functional depth, not just presentation. For a regulatory leader: which submissions, which classes of device, which inspections. For a commercial leader: which launches, what size of team, what selling environment. A good firm should be able to tell you why each finalist is on the list.

Off-limits policy

Search firms generally agree not to recruit from their clients. That protects you once you're a client, but it can also wall off the companies you most want to recruit from. Ask which organizations the firm can't approach for your search.

Process and communication

Ask how often you'll hear from the firm, what a progress report contains, and what happens if the first slate misses. A clear process from the first conversation is usually a sign of a clear process throughout.

Fees and guarantee terms

Most executive searches are retained. The firm is paid in stages as the search progresses, commonly a third of the first-year cash compensation in total. Ask what counts toward that figure, which expenses are billed on top, and what happens if a placed executive leaves within the first year. Our article on executive search fees explains the common structures in detail.

Questions to ask before you sign

• What share of your searches are in MedTech, and in our segment?
• Who will lead our search, and how many searches are they running now?
• Which companies are off-limits to you for this search?
• How will you find candidates who aren't looking?
• How will you assess the functional skills this role needs?
• How often will we hear from you, and what will a report include?
• What is the fee, what does it cover, and what are the guarantee terms?
• Can we speak with clients you've placed similar roles for?

The most common mistake

The most common mistake is choosing on brand alone. A well-known name tells you a firm can run a search. It doesn't tell you whether the person running yours knows the difference between a strong regulatory leader and one who has only worked near a submission. Ask the questions above of every firm on your list, and choose the one whose answers are the most specific.

FloodGate Medical is a retained search firm specializing exclusively in MedTech. Since 2001, we've helped companies build teams from individual contributors to executive leadership, across commercial, clinical, regulatory, quality and operations functions. See how a search works.