Streamlining Hospitals: Omnicell CEO Randy Lipps (Part 7)

SM: What kinds of products would you like to bring in? RL: They must leverage our market share. I know our customers would prefer to purchase from us if we have the products they want. We are very careful not to mess up the salesperson’s relationship with the hospitals.

Streamlining Hospitals: Omnicell CEO Randy Lipps (Part 6)

SM: How has the competitive landscape changed over time? RL: Pyxis was a Street darling before they were acquired by our big competitor. They are a division of Cardinal now. They are a great company and I wanted to mimic them so much.

Streamlining Hospitals: Omnicell CEO Randy Lipps (Part 5)

SM: You are now at the $250 million range in revenue. That has taken you approximately 15 years. What is it about you that lets you grow to the next level? RL: Every couple of years I have to reinvent my management style and business philosophies. Most entrepreneurs don’t last with their companies because they

Read Full Article »

Streamlining Hospitals: Omnicell CEO Randy Lipps (Part 4)

SM: What timeframe was it when you developed your first prototype? RL: It was 1992–1993. Sequoia Hospital quickly bought a contingent of products afterwards.

Streamlining Hospitals: Omnicell CEO Randy Lipps (Part 3)

SM: You identified broken processes during your free consulting work. Was that the genesis of your company? RL: It was. I went to a friend who was a venture capitalist and told him I had an idea of how to automate the deficient manual processes.

Streamlining Hospitals: Omnicell CEO Randy Lipps (Part 2)

SM: How did you address the culture issues at your new company? RL: I struggled with it for about a year and then brought in some folks from American to help out. Ultimately the business got built up very nicely, and then the company was sold.

Streamlining Hospitals: Omnicell CEO Randy Lipps (Part 1)

SM: Start out with your background. Where are you from and where does your story start? RL: I grew up in Texas and Louisiana. My father was a chemical engineer who ran research at a large minerals and gold development company. I came from a very engineering-oriented family.