Richard Hamermesh is a Senior Fellow at the Harvard Business School where he was formerly the MBA Class of 1961 Professor of Management Practice. Currently, Richard is the faculty co-chair of the HBS/Kraft Precision Medicine Accelerator as well as the faculty co-chair of HBS’s new Executive Education program, Accelerating Innovation in Precision Medicine.
Richard created and taught the second-year MBA elective, Building Life Science Businesses. Previously, he was the Course Head for the required first year course, The Entrepreneurial Manager. In addition, Richard participates in several HBS Executive Education programs.
Richard was the founding Faculty Chair of the HBS Healthcare Initiative and has been instrumental in expanding the role of healthcare in MBA education and faculty research. Today, over 10% of students enrolled at Harvard Business School are pursuing careers in healthcare.
From 1987 to 2001, Richard was a co-founder and a Managing Partner of The Center for Executive Development, an executive education and development consulting firm. Prior to this, from 1976 to 1987, he was a member of the faculty of the Harvard Business School.
Richard is also an active investor and entrepreneur, having participated as a principal, director, and investor in the founding and early stages of over 20 organizations. These have included start-ups, leveraged buy-outs, industry roll-ups, and non-profit foundations. He was the founding president of the Newton (MA) Schools Foundation and served on the editorial board of the Harvard Business Review. Richard has served on numerous Boards of Directors, and has chaired the Audit Committees of two public companies. He is currently on the Boards of three corporations. From 1991 to 1996, he was the founding Chairman of Synthes Spine, Inc.
Among his recent publications are: "What Precision Medicine Can Learn from the NFL" and "One Obstacle to Curing Cancer: Patient Data isn't Shared." Richard is the author or co-author of five books, including New Business Ventures and the Entrepreneur. His best-known book, Fad-Free Management, was published in 1996. He has published numerous articles and more than 100 case studies. Richard received his AB from the University of California, and his MBA and DBA from HBS. He is married, has two children, and four grandchildren. His hobbies include tennis, skiing, and yoga.
Featured Work
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Publications
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Book
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1986
Business Policy: Text and Cases
K. Andrews, J. Bower, C. R. Christensen, R. Hamermesh and M. E. Porter
Keywords: Business Ventures;
Corporate Strategy;
Policy;
Citation:
Andrews, K., J. Bower, C. R. Christensen, R. Hamermesh, and M. E. Porter. Business Policy: Text and Cases. 6 Homewood, IL: Richard D. Irwin, 1986.
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Case
| HBS Case Collection
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September 2017
(Revised December 2017)
Intermountain Healthcare: Pursuing Precision Medicine
Richard G. Hamermesh, Kathy E. Giusti, Robert S. Huckman and Julia Kelley
Headquartered in Salt Lake City, Intermountain Healthcare operates 23 hospitals and hundreds of clinics in Utah and Idaho and provides insurance to approximately 850,000 patients through its insurance arm, SelectHealth. In 2013, Intermountain, known for its commitment to improving health care outcomes and lowering costs by reducing treatment variation, made the surprising decision to invest significant resources in an innovative precision medicine unit, which would provide life-extending, genetically targeted therapies to late-stage cancer patients. Precision medicine was associated with treatment variation and high costs, the latter being of particular concern given that Intermountain often served as both payer and provider for its patients. But Intermountain’s management was convinced by Lincoln Nadauld, MD, PhD, who joined Intermountain’s oncology team in 2013 and spearheaded the creation of Intermountain Precision Genomics (IPG). By 2016, IPG had a cutting-edge genomic sequencing laboratory that provided sequencing services to Intermountain and non-Intermountain physicians, and IPG’s team had conducted research indicating that targeted therapies administered through IPG extended patient lifespans but increased overall costs. Now, in mid-2017, IPG is undergoing a major transition as it prepares to outsource the bulk of its genomic testing volume to Navican Genomics, a for-profit, Intermountain-owned spinoff. As Nadauld contemplates the future of IPG, he must evaluate two exciting opportunities, and students are asked to consider where Nadauld should focus IPG’s resources: should IPG partner with Intermountain’s behavioral health team to conduct joint research on the relationship between genetic markers and antidepressant effectiveness, or should IPG push for the testing of a large biorepository, which will cost $12 million but could lead to the identification of new precision medicine applications? More broadly, students will also need to consider the ways in which IPG complements or conflicts with Intermountain’s mission and culture.
Keywords: precision medicine;
healthcare;
innovation;
entrepreneurship;
cancer;
cancer research;
health care;
technology;
Health Care and Treatment;
Innovation Leadership;
Disruptive Innovation;
Entrepreneurship;
Decision Choices and Conditions;
Health Industry;
Insurance Industry;
Utah;
United States;
North America;
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Teaching Note
| HBS Case Collection
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May 2017
The CRISPR-Cas9 Quarrel
Richard G. Hamermesh and Matthew G. Preble
Teaching Note for HBS No. 817-020.
Citation:
Hamermesh, Richard G., and Matthew G. Preble. "The CRISPR-Cas9 Quarrel." Harvard Business School Teaching Note 817-124, May 2017.
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Case
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October 2016
(Revised January 2017)
The CRISPR-Cas9 Quarrel
Richard G. Hamermesh and Matthew G. Preble
In mid-2016, the Broad Institute and the University of California, Berkeley were in the middle of a contentious patent dispute over which entity controlled a breakthrough gene editing technology called CRISPR-Cas9. With CRISPR-Cas9, scientists might soon be able to cure previously incurable genetic diseases such as sickle cell anemia and cystic fibrosis, among many others. The dispute had escalated to the point where the U.S. Patent and Trademark Office (USPTO) declared a patent interference and began a process to determine the intellectual property’s (IP) rightful owner. The USPTO’s decision would not only have serious commercial implications—the technology would be immensely important to biotechnology firms looking to develop gene therapy products and was, therefore, sure to generate strong revenues for whichever entity owned the IP—but would also essentially award scientific credit for this technology and thus impact the reputations of the scientists on both sides who had worked so hard to discover the tool. This case touches upon a number of other key issues, too: the ethical implications of gene editing; the state of IP and licensing in the biotechnology industry; the impact of lawsuits on developing new technologies and companies; and who should own platform technologies built, at least in part, by the research of multiple parties and government funding.
Keywords: CRISPR;
Broad Institute;
University of California Berkeley;
Intellectual Property;
Patents;
Law;
Lawsuits and Litigation;
Science;
Genetics;
Entrepreneurship;
Biotechnology Industry;
United States;
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Teaching Note
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September 2016
Mohamed Azab and Seha Capital
Richard Hamermesh and Sarah McAra
Teaching Note for case 816-066.
Keywords: Egypt;
Citation:
Hamermesh, Richard, and Sarah McAra. "Mohamed Azab and Seha Capital." Harvard Business School Teaching Note 817-039, September 2016.
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Case
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February 2016
(Revised August 2016)
Mohamed Azab and Seha Capital
Richard G. Hamermesh and Sarah McAra
In January 2011, Mohamed Azab, founder and CEO of health care investment firm Seha Capital, made his first health care investment in Hassab Labs, a diagnostic lab in Alexandria, Egypt. Weeks later, a revolution erupted across the country as the Arab Spring swept through the region, and Azab spent the following years active in both the protests and in restructuring and expanding Hassab Labs. From 2011 to 2014, he opened 25 new branches, quadrupled staff, and more than doubled net income. By the end of the revolution in 2014, Hassab Labs was among the top five chains in the country. In October 2014, Seha partially exited Hassab Labs in a sale to an African conglomerate, SAHAM Group. At the same time, Azab learned that foreign investors in a small private hospital in Egypt were looking to exit the market. While Seha's mission was to build diagnostic, hospital, and pharmacy chains in Egypt, Azab had not been planning to enter the hospital market until he further expanded the diagnostic labs. In late 2014, Azab must decide if he should focus on expanding Hassab Labs, either in Egypt or across Africa, or invest in the hospital.
Keywords: health care;
health;
entrepreneurship;
pan-Africa;
health care investment;
financing;
developing world;
Entrepreneurship;
Egypt;
Africa;
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Teaching Plan
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July 2015
Medalogix
Richard G. Hamermesh and Matthew G. Preble
Citation:
Hamermesh, Richard G., and Matthew G. Preble. "Medalogix." Harvard Business School Teaching Plan 816-012, July 2015.
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Teaching Plan
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June 2015
Bloodbuy
Richard Hamermesh, John Quelch and Michael Norris
Citation:
Hamermesh, Richard, John Quelch, and Michael Norris. "Bloodbuy." Harvard Business School Teaching Plan 815-140, June 2015.
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Case
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October 2014
(Revised June 2015)
The National Football League and Brain Injuries
Richard G. Hamermesh and Matthew G. Preble
The National Football League (NFL) was both the most popular spectator sport in the U.S. and a major economic entity, taking in roughly $10 billion a year in revenue. However through the early twenty-first century, an increased understanding of the long-term effects of head injuries on NFL players indicated a serious threat to the long-term viability of the game. Particularly concerning was the indication that some deceased professional football players had developed chronic traumatic encephalopathy (CTE)—a neurodegenerative disease which had a strong influence on a person's mental and physical health—most likely as a result of repetitive hits sustained during their football careers and which may have contributed to their deaths.
Over 4,000 retired players had jointly sued the NFL over the head injuries they had sustained during their time in the NFL and the resulting health problems they attributed to these injuries. In part, the lawsuit alleged that the NFL had not been forthcoming with players about the health risks of head injuries. The two sides had reached a tentative $765 million settlement in 2013, the bulk of which would go to compensating retired players suffering from such diseases as Alzheimer's or dementia.
While this settlement compensated retired players, it was not applicable to current or future players. Could the NFL preserve the sport by making it safer through new rules or equipment changes, or was football an inherently physical game that no amount of new rules or equipment could make completely safe? Were current and future players, now knowing full well the potential long-term health implications of football, tacitly accepting the risks involved? As a team owner, is now the time to sell while franchise value and fan support are at their peaks, or will the business of the NFL be viable for years to come?
Keywords: employee safety;
Safety;
Employees;
Sports;
Health;
Sports Industry;
United States;
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Case
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June 2014
(Revised February 2017)
Kathy Giusti and the Multiple Myeloma Research Foundation
Richard G. Hamermesh, Joshua D. Margolis and Matthew G. Preble
What do you do when your rising professional career is cut short by an unexpected cancer diagnosis? Kathy Giusti shifted careers, built a new organization that transformed how cancer research is done, and now faces the challenge of sustaining the organization and its funding for its newest venture.
Since she was first diagnosed with multiple myeloma (MM) in 1996, Giusti had led an effort to better understand and treat the disease. She had co-founded the Multiple Myeloma Research Foundation (MMRF), helped form the Multiple Myeloma Research Consortium (MMRC), and brought together a diverse body of academics, researchers, pharmaceutical and biotech companies, physicians, and patients to combine their efforts around the disease. The MMRF had helped facilitate clinical trials for promising drugs, sponsored research, and raised a substantial amount of money for these purposes.
In 2014, the MMRF was in the midst of its CoMMpass program; a multi-year effort to collect tissue samples from 1,000 patients at key junctures in their disease, sequence these samples to better understand the genetic underpinnings of MM and its many sub-types, and thus enable researchers to study a comprehensive sampling of patients. CoMMpass also had a patient-facing element which allowed the patient community to communicate with one another and with professional moderators. By mid-2014, some 550 patients were enrolled and 85 hospitals were participating.
As a non-profit, the MMRF had historically relied on donations to fund its research operations. Giusti wanted to find a way to ensure a reliable revenue stream for the organization and give it greater financial stability. The MMRF had historically given away its resources and knowledge for free in order to speed research; Giusti worried if charging for some of its functions would be at odds with its mission and historical practices. She worked with her executive team to examine potential sources of revenue, and to decide if this was the right thing to do.
Keywords: leadership;
philanthropy;
philanthropy funding;
entrepreneurship;
health care;
management styles;
management skills;
personalized medicine;
health care outcomes;
cancer;
Cancer care in the U.S.;
personal care;
Leading Change;
Social Entrepreneurship;
Philanthropy and Charitable Giving;
Health Care and Treatment;
Leadership Style;
Management Style;
Growth and Development Strategy;
Business Strategy;
Health;
Health Industry;
United States;
Canada;
Spain;
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Case
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January 2014
(Revised December 2014)
GenapSys: Business Models for the Genome
Richard G. Hamermesh, Joseph B. Fuller and Matthew Preble
GenapSys, a California-based startup, was soon to release a new DNA sequencer that the company's founder, Hesaam Esfandyarpour, believed was truly revolutionary. The sequencer would be substantially less expensive—potentially costing just a few thousand dollars—and smaller than other sequencers, many of which were large devices costing tens of thousands or hundreds of thousands of dollars. GenapSys' device, named GENIUS, could also quickly generate large amounts of data, as it was capable of sequencing an entire human genome in less than eight hours. At this price, GenapSys' device would be attractive to customers that had been unable to afford sequencers, such as smaller laboratories or hospitals, and even expand the market to include industries such as agriculture and biofuels.
As GenapSys came closer to releasing its product, Esfandyarpour and his Senior Director of Operations and Strategy, Leila Rastegar (HBS '11), sat down to decide which of three business models they would choose to bring this device to market. In the first model, the company would sell sequencers at a higher price to those entities which already purchased sequencers, primarily major research labs and pharmaceutical firms, but position its machine as a faster alternative to existing technologies. In the second model, GenapSys would sell its sequencer at a lower price but charge more for the cartridges necessary to run a sample, and earn its primary revenue from these cartridges. The third model would see GenapSys sell its device at or around cost, but use the data customers generated to create a proprietary database of genetic information. Customers could pay to access the database for research, to create genetic tests, or for many other purposes. GenapSys would also build an online store with the genetic tests customers created.
Esfandyarpour's and Rastegar's decision would determine GenapSys' customer base and financial position for the coming years, and also impact development and capital needs of the firm. Which was the right model to bring the device to market and have a meaningful impact? Keywords: DNA Sequencing;
life sciences;
business model;
innovation ＆ entrepreneurship;
Health Care and Treatment;
Genetics;
Business Strategy;
Biotechnology Industry;
Pharmaceutical Industry;
Technology Industry;
Health Industry;
Medical Devices and Supplies Industry;
United States;
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Supplement
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October 2013
(Revised January 2014)
Fred Khosravi and AccessClosure (B)
Richard G. Hamermesh and Lauren Barley
It was January 2013, and Fred Khosravi, chairman of the board of AccessClosure Inc., wondered what the new year had in store for him and AccessClosure, the company he founded in late 2002. Khosravi was cautiously optimistic—the Mountain View, California-based medical device company had been cash flow positive for seven consecutive quarters with annual revenues over $70 million. Since 2007, it had shipped well over 1.5 million of its vascular closure device (VCD), the Mynx, which was stocked in more than 1,200 catheter labs worldwide. However, a 2008 patent infringement lawsuit filed by St. Jude Medical, the VCD market leader, loomed large. The case was on appeal, and a three-judge panel would hear arguments in March 2013. If AccessClosure lost its appeal, it faced a $27.1 million judgment for patent infringement and a permanent injunction from selling its Mynx family of VCDs, its sole source of revenue.
Keywords: medical devices;
vascular closure device;
patent litigation;
Patenting;
Biotechnology Industry;
Biomedical Research;
biotechnology;
biotech;
Technological Innovation;
Patents;
Health Care and Treatment;
Biotechnology Industry;
United States;
California;
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Case
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November 2012
Sugar Bowl
Richard G. Hamermesh and Alisa Zalosh
Shelby Givens, a recent business school graduate, returned home to Raleigh, North Carolina, to help rescue her family's ailing and outdated bowling alley, Westlake Lanes. Although she cut costs and addressed inefficiencies, moving the business from near-bankruptcy to profitability in nine months, market conditions threatened the long-term viability of the business. Givens then sold her family on a new, more youth-oriented concept, an urban lounge called Sugar Bowl that could generate sizable revenues from the food and beverage businesses already embedded in Westlake Lanes. The case follows Givens as she builds Sugar Bowl into a turnaround story through shrewd decision making in finance, operations, and marketing, while contending constantly with challenging surprises and disappointments. The case also captures Givens's reflections on how the entrepreneurial drive has motivated her. Sugar Bowl may be taught alone or after "Westlake Lanes" (4431), which follows Givens through the initial turnaround process.
Keywords: Family Business;
Entrepreneurship;
Operations;
Performance;
Business Strategy;
Corporate Finance;
Entertainment and Recreation Industry;
Raleigh;
Citation:
Hamermesh, Richard G., and Alisa Zalosh. "Sugar Bowl." Harvard Business School Brief Case 913-537, November 2012.
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Teaching Note
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December 2012
Gene Patents (A) (TN)
Richard G. Hamermesh and Matthew Preble
This is the teaching note for case Gene Patents (A). In March 2010, U.S. District Court Judge Robert Sweet overturned 30 years of legal precedent and ruled that unaltered human genes could not be patented. This case reviews patent law and how it relates to our increasing knowledge of the Human Genome. The case issues deal with potential implications of Judge Sweet's decision for biotechnology entrepreneurs and investors.
Keywords: patents;
genetics;
biotech;
Human Genome;
Patents;
Genetics;
Biotechnology Industry;
United States;
Citation:
Hamermesh, Richard G., and Matthew Preble. "Gene Patents (A) (TN)." Harvard Business School Teaching Note 813-099, December 2012.
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Case
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November 2012
(Revised January 2013)
Companion Diagnostics: Uncertainties for Approval and Reimbursement
Richard G. Hamermesh, Norman C. Selby and Phillip Andrews
The FDA approvals of novel therapeutics were seen as signs in the personalized medicine community of real progress in the growth of personalized medicine. The FDA's approval of such drugs, along with companion diagnostics, suggested a shift in thinking and regulatory practices at the agency. Beyond the regulatory questions, many considered the reimbursement system archaic, dispersed, unpredictable, and unnecessarily time consuming. Many questioned whether the traditional models of reimbursement were relevant in the era of personalized medicine, and who should be covering the cost of tests needed to identify the sometimes small number of patients who could benefit from expensive targeted drugs. This case focuses on the array of possibilities and the ambiguity surrounding these regulatory and reimbursement issues.
Keywords: models of reimbursement;
personalized medicine;
regulation;
healthcare reform;
Health Care and Treatment;
Health Industry;
United States;
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Supplement
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November 2012
Amylin Pharmaceuticals (B)
Richard G. Hamermesh and Carin-Isabel Knoop
Amylin Pharmaceuticals brought two first-in-class diabetes drugs to market, Byetta and Symlin, in 2005, which were sold in over 80 countries with $650.7 million in sales by 2011. However, the company remained unprofitable as sales plateaued. The small pharmaceutical company was hurt by long delays in bringing Bydureon, a once-a-week version of Byetta, to market, which allowed a competitor time to establish itself in the once-a-week market. Amylin also failed to develop a marketable anti-obesity drug after the purchase of the promising leptin molecule from Amgen, Inc. In 2012, Amylin was acquired by Bristol-Myers Squibb for $5.3 billion.
Keywords: Pharmaceuticals;
Bristol-Myers Squibb;
Health Care and Treatment;
Pharmaceutical Industry;
United States;
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Case
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April 2012
Meli Marine
Richard G. Hamermesh and Sunru Yong
Meli Marine, a container shipping company, is facing an important strategic decision after an interesting acquisition opportunity presents itself. Founded in 1974 by the Chang Family, the Singapore-based company has carved out a niche in the intra-Asia transport market. After years of success, eroding business conditions caused a financial crisis and a new CEO, David Tian, was brought in. Tian created a successful strategic change effort that resulted in a more stable but slower-growth company. More than ten years later, Meli Marine has a rare and affordable opportunity to acquire the larger shipping vessels it needs to move into a global market. Tian and his board must decide to whether to expand the franchise into Asian-North American shipping lanes, as key competitors have done, or continue with its current conservative business model.
Citation:
Hamermesh, Richard G., and Sunru Yong. "Meli Marine." Harvard Business School Brief Case 124-426, April 2012.
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Supplement
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March 2012
(Revised October 2013)
Gene Patents (B)
Richard Hamermesh and Phillip Andrews
The case updates events since the Court's ruling against Myriad Genetics on March 29, 2010 and should be used in conjunction with Gene Patents (A). On July 29, 2011, a US Appeals Court reversed the prior ruling against Myriad. On September 16, 2011, the first major overhaul of US Patent law in nearly 60 years was signed into law. Among other provisions, the law moved the US to a first-to-file priority when granting patents, as was the practice in most of the rest of the world. Many felt this change would help to reduce the amount of patent litigation. The case ends with the Supreme Court's 9 to 0 vote on March 29, 2012 ruling against another company in a case similar to Myriad's. Within five days of that decision, the Supreme Court remanded the Myriad case back down to the Court of Appeals for reconsideration.
Keywords: Courts and Trials;
Patents;
Genetics;
Judgments;
Investment;
Biotechnology Industry;
United States;
Citation:
Hamermesh, Richard, and Phillip Andrews. "Gene Patents (B)." Harvard Business School Supplement 812-130, March 2012. (Revised October 2013.)
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Case
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October 2011
(Revised December 2012)
eHealthpoint: Healthcare for Rural India
Richard G. Hamermesh, Mona Sinha and Elizabeth Vrolyk
Healthpoint Services sought to address rural India's shortage of quality and affordable healthcare with a multi-service platform that comprised telemedical health clinics called eHealthpoints, clean drinking water, a diagnostic lab, and a pharmacy. Could they convince rural Indians to leapfrog from local healers to telemedicine? And could they convince Investors that their capital Intensive, bundled offering was a high-growth, self-sustaining venture? Healthpoint Services grappled with multiple challenges: changing mind-sets of patients and investors, generating traffic at their eHealthpoints, expanding their product portfolio, and growing within and outside India.
Keywords: Health Care and Treatment;
Health Industry;
India;
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Case
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October 2011
Gene Sequencing: Staking a Position in an Expanding Industry
Richard G. Hamermesh, Mara Aspinall and Phillip Andrews
Towards the end of 2010, companies in the gene sequencing industry were pushing aggressive R&D programs to develop technologies and products in the race to sequence the entire human genome at a cost of $1,000. It remained to be seen when the "$1,000 genome" would arrive, and despite all of the buzz surrounding the industry, it was still unclear to investors who the industry winners would be. This case focuses on the emergence of third-generation sequencing and the four segments in the industry: hardware, consumables, services, and interpretation. The case presents the history of the industry, the evolution of sequencing technology, and the business models of players in each segment.
Keywords: Genetics;
Business Growth and Maturation;
Business Plan;
Competition;
Venture Capital;
Biotechnology Industry;
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Background Note
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August 2011
(Revised September 2011)
U.S. Universities and Technology Transfer
Richard G. Hamermesh, Josh Lerner and Phillip Andrews
Technology transfer from U.S. universities to industry has increased dramatically in the last 25 years. Reviews the history of technology transfer with particular emphasis on the Bayh-Dole Act of 1980. It then examines how universities responded to Bayh-Dole, the growth of technology transfer offices, and compares how three different universities (MIT, Stanford, and Harvard) approach technology transfer. Provides an overview of the technology transfer process and issues around current practices.
Keywords: Higher Education;
Technology;
Laws and Statutes;
Education Industry;
Technology Industry;
United States;
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Teaching Note
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June 2011
Whose Money Is It Anyway? (TN) (A), (B), and (C)
Richard G. Hamermesh, V.G. Narayanan and Rachel Gordon
Teaching Note for 810-008, 810-013, and 810-031.
Keywords: Health Industry;
Citation:
Hamermesh, Richard G., V.G. Narayanan, and Rachel Gordon. "Whose Money Is It Anyway? (TN) (A), (B), and (C)." Harvard Business School Teaching Note 111-128, June 2011.
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Case
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November 2010
(Revised January 2011)
Computerized Provider Order Entry at Emory Healthcare
Richard G. Hamermesh, F. Warren McFarlan, Mark Keil, Andrew Katz, Michael Morgan and David LaBorde
The Computerized Provider Order Entry at Emory Healthcare case presents one hospital system's efforts to implement computerized provider order entry (CPOE) across all of its hospitals and the challenges they faced in doing so. Issues such as standardization of care, how to handle medication reconciliation, and unexpected challenges (e.g., changes to the post-op ordering process, lack of a human gatekeeper to monitor order flow, increase in lab orders). Dr. Bill Bornstein, Chief Quality and Medical Officer of Emory Healthcare in Atlanta is responsible for the smooth implementation of CPOE at Emory Healthcare, which is a vital part of their $50 million electronic medical record initiative. By June 2009, CPOE had gone "live" at Emory University Orthopaedics and Spine Hospital, Emory University Hospital, and Wesley Woods Hospital in a staged rollout. While Dr. Bornstein felt good about how the implementation had gone thus far, as he looked ahead next month to July 13, 2009, the fast approaching go-live date for Emory University Hospital Midtown (EUHM), he was concerned about the challenges and possible perils that lay ahead. He considered what additional actions he should take to prepare for go-live at Midtown, and if Midtown was ready for CPOE at all. One thing was certain; this hospital was different. The Computerized Provider Order Entry at Emory Healthcare case presents one hospital system's efforts to grapple with the challenges of implementing CPOE and the reactions that result. Issues such as how to deal with a workforce that has mixed views about the value of implementing such systems, the pros and cons associated with standardization of care, as well as how to deal with unexpected changes to work processes are brought out in the case. The case also allows for discussion of how to plan a phased implementation with adequate time for organizational learning to occur between the time that various sites "go live."
Keywords: Health Care and Treatment;
Information Management;
Management Systems;
Standards;
Service Delivery;
Business Processes;
Organizational Change and Adaptation;
Projects;
Information Technology;
Software;
Health Industry;
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Background Note
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October 2010
(Revised November 2010)
Plavix: Drugs in the Age of Personalized Medicine
Richard G. Hamermesh, Mara G. Aspinall and Rachel Gordon
PIavix, one of the world's best selling drugs in 2010, appears to have a limited future. Its patent was due to expire soon, and recently new data had been discovered that indicated that a small subset of the population would be at risk for stroke, heart attack, or even death if they took PIavix. As a result, the FDA had added a black box warning—the agency's most severe—to Plavix's label in 2010. In addition, it had been discovered that the common combination of Plavix and Prilosec, an over-the-counter drug, could adversely affect patients. Finally, Plavix faced new competition from two new drugs with different mechanisms of action. This case reviews the recent history of Plavix in greater detail to encourage a discussion of the following questions: How might the current manufacturers of Plavix handle these emerging threats to their leading blockbuster? How might Plavix's potential competitors utilize Plavix's mixed history to their advantage? How should genotyping be integrated into the clinical care of patients in the light of emerging knowledge?
Keywords: Health Care and Treatment;
Product Positioning;
Business and Government Relations;
Genetics;
Competitive Strategy;
Pharmaceutical Industry;
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Case
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September 2007
(Revised October 2010)
DermaCare: Zapping Zits Directly
Richard G. Hamermesh and Lauren Barley
DermaCare has developed an innovative new product for the treatment of acne that they hope to sell to consumers via direct-response television. The unconventional nature of the product and its distribution has led the company to seek angel financing. The Silicon Valley Band of Angels has agreed to finance the company and has submitted a proposed term sheet. Recently, however, a venture capital (VC) group has submitted a competing term sheet. The company must decide whether to accept financing from the Angels or the VC group.
Keywords: Decision Choices and Conditions;
Venture Capital;
Investment;
Innovation and Invention;
Product;
California;
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Case
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December 2008
(Revised October 2013)
Amylin Pharmaceuticals: Diabetes and Beyond (A)
Richard G. Hamermesh and Rachel Gordon
Ginger Graham, CEO of Amylin Pharmaceuticals, joined the company with the expectation of taking the company's signature drug, Symlin, to market. However, unforeseen regulatory challenges have put the approval process in jeopardy. At the same time, the company has a second drug, Byetta, in its pipeline. Graham must decide how to manage the company's limited resources while also finalizing another deal that has huge future potential. Graham knows that Amylin's immediate success depends on its ability to commercialize its products, but its long-term success depends on replenishing its pipeline. Can the company do it all successfully?
Keywords: regulations;
drug regulations;
Symlin;
negotiation;
Governing Rules, Regulations, and Reforms;
Resource Allocation;
Negotiation Deal;
Product Development;
Research and Development;
Commercialization;
Pharmaceutical Industry;
United States;
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Case
| HBS Case Collection
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February 2010
Shurgard Self-Storage: Expansion to Europe (Abridged)
Richard G. Hamermesh
Shurgard, a U.S.-based firm that rents storage facilities to consumers and small businesses, is considering financing options for rapid expansion of its European operations. Five years after entering Europe, Shurgard Europe has opened 17 facilities in Belgium, France, and Sweden. Along the way, Shurgard has encountered skepticism from both European consumers and investors about the unfamiliar self-storage concept and internal debates on how much to adapt the U.S. business model to European lifestyles. Wall Street analysts also do not value the impact that the European expansion could have on Shurgard's U.S. performance as a publicly traded Real Estate Investment Trust (REIT). As an alternative, to finance this expansion, Shurgard received a proposed deal from a consortium of banks and other investors where they would provide private equity financing spaced over the next few years plus a line of credit. In return, the investors would receive a large share of Shurgard's equity and control of its board, which could force a public offering in less than two years. The decision focuses on whether Shurgard Europe should accept the conditions and valuation of the proposed deal or seek another deal at a later point in time. Students must assess whether the self-storage business model can deliver the growth rate in Europe that the company has promised its potential investors. Involves calculating some basic estimates of the company's value from financial exhibits (enterprise value using an EBITDA multiple). Main focus is to assess this as an entrepreneurial venture. Students do not need to be familiar with REITs.
Keywords: Business Model;
Business Growth and Maturation;
Multinational Firms and Management;
Logistics;
Corporate Entrepreneurship;
Trade;
Equity;
Corporate Finance;
United States;
Europe;
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Teaching Note
| HBS Case Collection
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January 2008
(Revised January 2009)
Cynthia Fisher and the Rearing of ViaCell (TN)
Robert F. Higgins, Richard G. Hamermesh and Erin Seefeld
Teaching Note for [806002].
Keywords: Management;
Citation:
Higgins, Robert F., Richard G. Hamermesh, and Erin Seefeld. "Cynthia Fisher and the Rearing of ViaCell (TN)." Harvard Business School Teaching Note 808-115, January 2008. (Revised January 2009.)
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Supplement
| HBS Case Collection
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April 2008
ProfitLogic (CW)
Lynda M. Applegate, Richard G. Hamermesh and Michael J. Roberts
This interactive spreadsheet accompanies the ProfitLogic case (#802-110) to enable analysis of the cash flow implications of three business models that the company is considering. Students are able to change key assumptions and see the impact on cash flow.
Keywords: Cash Flow;
Business Model;
Citation:
Applegate, Lynda M., Richard G. Hamermesh, and Michael J. Roberts. "ProfitLogic (CW)." Harvard Business School Spreadsheet Supplement 808-704, April 2008.
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Background Note
| HBS Case Collection
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January 2007
(Revised June 2007)
Technology Transfer at U.S. Universities
Richard G. Hamermesh, Josh Lerner and David Kiron
Technology transfer from U.S. universities to industry has increased dramatically in the last 25 years. Reviews the history of technology transfer with particular emphasis on the Bayh-Dole Act of 1980. It then examines how universities responded to Bayh-Dole, the growth of technology transfer offices, and compares how three different universities (MIT, Stanford, and Harvard) approach technology transfer. Provides an overview of the technology transfer process and issues around current practices.
Keywords: Higher Education;
Technology;
Laws and Statutes;
Education Industry;
Technology Industry;
United States;
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Case
| HBS Case Collection
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December 2005
(Revised May 2007)
Cynthia Fisher and the Rearing of ViaCell
Robert F. Higgins, Richard G. Hamermesh and Ingrid Vargas
Describes the start up of Viacord, a Boston-based medical services firm founded by Cynthia Fisher (HBS MBA) in 1993. Told from Fisher's perspective, the entrepreneur details the conceptualization and launch of the business and the many obstacles and expenses faced in the company's first seven years. Fisher describes the venture capital negotiations and a merger with a biotech company that led to the creation of ViaCell in 2000. Fisher explains how her role changed from founder and CEO of Viacord to president and then board member of ViaCell, and carries the firm's story to the successful 2005 IPO.
Keywords: Managerial Roles;
Business Growth and Maturation;
Entrepreneurship;
Business Startups;
Service Industry;
Health Industry;
Boston;
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Case
| HBS Case Collection
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December 2004
(Revised March 2007)
Cutlass Capital, L.P.
Richard G. Hamermesh and Brian DeLacey
David Hetz and Jon Osgood are forming a new venture capital fund in 2001 to invest in health care start-ups. Describes their fundraising activities at a time when venture capital investing has reached an all-time high. Although their background skills and experiences fall outside venture capital, they have identified a large investor and a number of smaller investors to back their small fund. They believe their fund's strategy uniquely addresses the strategic needs of large, corporate acquirers. At the same time, their approach addresses venture capital's reliance on public markets for liquidity events--which all but evaporated with the dot-com collapse of March 2000. Hetz and Osgood face challenging negotiations to close the fund. Raises the question of whether there is a need for a fund like this at the time of the case. Supports discussion of specialized versus generalized venture capital funds.
Keywords: Venture Capital;
Negotiation Process;
Entrepreneurship;
Investment Funds;
Health Care and Treatment;
Business Startups;
Health Industry;
United States;
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Teaching Note
| HBS Case Collection
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March 2006
Conor Medsystems (TN)
Robert F. Higgins, Richard G. Hamermesh and Erin Seefeld
Teaching Note to (804-180).
Keywords: Health Industry;
Citation:
Higgins, Robert F., Richard G. Hamermesh, and Erin Seefeld. "Conor Medsystems (TN)." Harvard Business School Teaching Note 806-150, March 2006.
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Case
| HBS Case Collection
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March 2003
(Revised January 2006)
Threshold Sports
Richard G. Hamermesh and Todd H Thedinga
Describes the sales, marketing, and operating issues facing Threshold Sports, a small cycling event management company that produces the Pro Cycling Tour. Examines the issues facing the company as it approaches breakeven and attempts to grow the business substantially. The company must balance its growth objectives with a series of internal and external challenges. These include expanding the event to more cities, selling more sponsorships, expanding the TV coverage, and developing new revenue streams.
Keywords: Growth Management;
Bicycle Transportation;
Service Delivery;
Sports;
Bicycle Industry;
Service Industry;
Citation:
Hamermesh, Richard G., and Todd H Thedinga. "Threshold Sports." Harvard Business School Case 803-134, March 2003. (Revised January 2006.)
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Background Note
| HBS Case Collection
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January 2005
(Revised August 2005)
A Note on Managing the Growing Venture
Richard G. Hamermesh, James L. Heskett and Michael J. Roberts
Focuses on the strategic and organizational challenges that confront growing enterprises and the entrepreneurs who lead them. Provides an overview of how a new venture needs to change as it passes from the initial start-up to the growth phase. Explores how a venture's leadership, strategy, and execution need to evolve to deal with rapid growth. A rewritten version of an earlier note.
Keywords: Business Growth and Maturation;
Leading Change;
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Case
| HBS Case Collection
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March 2004
(Revised May 2005)
Shurgard Self-Storage: Expansion to Europe
Richard G. Hamermesh and Indra Reinbergs
Shurgard, a U.S.-based firm that rents storage facilities to consumers and small businesses, is considering financing options for rapid expansion of its European operations. Five years after entering Europe, Shurgard Europe has opened 17 facilities in Belgium, France, and Sweden. Along the way, Shurgard has encountered skepticism from both European consumers and investors about the unfamiliar self-storage concept and internal debates on how much to adapt the U.S. business model to European lifestyles. Wall Street analysts also do not value the impact that the European expansion could have on Shurgard's U.S. performance as a publicly traded Real Estate Investment Trust (REIT). As an alternative, to finance this expansion, Shurgard received a proposed deal from a consortium of banks and other investors where they would provide private equity financing spaced over the next few years plus a line of credit. In return, the investors would receive a large share of Shurgard's equity and control of its board, which could force a public offering in less than two years. The decision focuses on whether Shurgard Europe should accept the conditions and valuation of the proposed deal or seek another deal at a later point in time. Students must assess whether the self-storage business model can deliver the growth rate in Europe that the company has promised his potential investors. Involves calculating some basic estimates of the company's value from financial exhibits (enterprise value using a pEBITDA multiple). Main focus is to assess this as an entrepreneurial venture. Students do not need to be familiar with REITs.
Keywords: Private Equity;
Valuation;
Business Model;
Governing and Advisory Boards;
Entrepreneurship;
Cross-Cultural and Cross-Border Issues;
Service Industry;
Belgium;
France;
Sweden;
United States;
Europe;
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Case
| HBS Case Collection
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June 2001
(Revised November 2004)
Kingsley Management
Richard G. Hamermesh
Includes a brief overview of key challenges facing recent HBS graduates seeking funding for a business, followed by a 22-page excerpt from the Kingsley Management business plan. Describes Matthew Lieb and Chris Jones, two of the partners who developed the business plan for Kingsley Management, as they prepare to meet with potential investors. Lieb and Jones are particularly concerned about the investors' financial returns and the structure of the new business entity (i.e., C-corp. vs. LLC). Outlines several questions facing Lieb and his co-founders, which students are asked to resolve.
Keywords: Business Organization;
Corporate Entrepreneurship;
Business Plan;
Opportunities;
Investment Return;
Organizational Structure;
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Teaching Note
| HBS Case Collection
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March 2003
(Revised June 2003)
Threshold Sports (TN)
Richard G. Hamermesh and Todd H Thedinga
Teaching Note for (9-803-134).
Keywords: Sports Industry;
Citation:
Hamermesh, Richard G., and Todd H Thedinga. "Threshold Sports (TN)." Harvard Business School Teaching Note 803-135, March 2003. (Revised June 2003.)
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Teaching Note
| HBS Case Collection
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June 2001
(Revised April 2003)
Kingsley Management TN
Richard G. Hamermesh and Michelle Lutz
Teaching Note for (801-474).
Citation:
Hamermesh, Richard G., and Michelle Lutz. "Kingsley Management TN." Harvard Business School Teaching Note 801-484, June 2001. (Revised April 2003.)
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Tutorial
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February 2003
Pre-Money / Post-Money Tutorial
Richard G. Hamermesh, Nitin Nohria, Michael J. Roberts, Arleen Ahearn-Cavanaugh and Sal Darji
An online, interactive tutorial that addresses issues surrounding entrepreneurial valuations. Topics include: the difference between an implied and a "bottom-up" valuation; the difference between pre-money and post-money valuations; the calculation of pre-money and post-money valuations; and the creation and interpretation of a capitalization table.
Keywords: Money;
Citation:
"Pre-Money / Post-Money Tutorial." Harvard Business School Tutorial 803-703, February 2003.
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Teaching Note
| HBS Case Collection
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January 2002
(Revised July 2002)
Vialog Corporation (TN)
Richard G. Hamermesh and Michele Lutz
Citation:
Hamermesh, Richard G., and Michele Lutz. "Vialog Corporation (TN)." Harvard Business School Teaching Note 802-053, January 2002. (Revised July 2002.)
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Teaching Note
| HBS Case Collection
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January 2001
(Revised May 2001)
Return Logic, Inc. (A) and (B) TN
Richard G. Hamermesh and Michele Lutz
Teaching Note for (9-801-167) and (9-801-168).
Citation:
Hamermesh, Richard G., and Michele Lutz. "Return Logic, Inc. (A) and (B) TN." Harvard Business School Teaching Note 801-366, January 2001. (Revised May 2001.)
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Case
| HBS Case Collection
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February 1999
(Revised June 1999)
Bloomberg L.P.
Clayton M. Christensen, Richard G. Hamermesh and Jeremy Dann
Michael Bloomberg founded his company to provide customers quick access to financial market data and analytical tools for understanding that data. As Bloomberg L.P. grew quickly,entered the ranks of "large, established companies," it grappled with a whole new range of human resources, organizational, and corporate culture issues.
Keywords: Human Resources;
Management Analysis, Tools, and Techniques;
Organizational Culture;
Organizational Structure;
Problems and Challenges;
Citation:
Christensen, Clayton M., Richard G. Hamermesh, and Jeremy Dann. "Bloomberg L.P." Harvard Business School Case 399-081, February 1999. (Revised June 1999.)
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Teaching Note
| HBS Case Collection
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June 1998
PC&D, Inc. TN
Richard G. Hamermesh
Teaching Note for (9-380-072).
Citation:
Hamermesh, Richard G. "PC&D, Inc. TN." Harvard Business School Teaching Note 398-183, June 1998.
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Case
| HBS Case Collection
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April 1981
(Revised March 1993)
General Electric: Strategic Position--1981
Francis Aguilar and Richard G. Hamermesh
Describes the introduction and evolution of General Electric's strategic planning system from the 1960s to Jack Welch's tenure. Allows discussion of the interplay of problems and circumstances to the evolution of the strategic planning system, and how Welch might use or alter the system to meet the challenge of growth.
Keywords: Strategic Planning;
Growth Management;
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Background Note
| HBS Case Collection
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September 1982
(Revised October 1988)
Note on Implementing Strategy
Richard G. Hamermesh
Presents a framework for thinking about problems of implementing strategy. Defines the tasks of implementation and the range of implementation situations, then develops four approaches to implementation and reviews a range of implementation skills. Intended for use in Business Policy II in conjunction with case studies.
Keywords: Strategy;
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Teaching Note
| HBS Case Collection
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June 1986
International Harvester (A), (B1), (B2), (B3), (B4), (C), and (D), Teaching Note
Richard G. Hamermesh and Evelyn T. Christiansen
Citation:
Hamermesh, Richard G., and Evelyn T. Christiansen. "International Harvester (A), (B1), (B2), (B3), (B4), (C), and (D), Teaching Note." Harvard Business School Teaching Note 386-125, June 1986.
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Case
| HBS Case Collection
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February 1979
(Revised October 1980)
Mitek Corp.
Richard G. Hamermesh and Evelyn T. Christiansen
Citation:
Hamermesh, Richard G., and Evelyn T. Christiansen. " Mitek Corp." Harvard Business School Case 379-110, February 1979. (Revised October 1980.)
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