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Heard on the Street: Mayo Clinic merges two departments

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Mayo Clinicis shaking things up a bit by merging two departments into one.

In August, Mayo Clinic created the Business Development Department.This new entity is a mix of Mayo Clinic Venturesand the Office of Business Development.

"The decision to combine these two areas is a part of the effort to guide and advance Mayo Clinic's strategic growth initiatives," according to Mayo Clinic Public Affairs.

The Business Development department will oversee Mayo Clinic's partnerships, pursue new business opportunities and work to advance medical technology with Mayo Clinic entrepreneurs.

Jim Rogers, the former chair of Mayo Clinic Ventures, was named the leader of the new Business Development Department last week.

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He will report to Mayo Clinic Chief Administrative Officer Jeff Bolton. As chair, Rogers will share the leadership duties of the department with Dr. Clark Otley, who has been named as the medical director of the new office.

Rogers will lead the teams who work with physicians, scientists and administrators on business development and commercialization projects.

Rogers has been in charge of Mayo Ventures since 2012, when he took over for Steve Van Nurden. Mayo Ventures managed intellectual property through licensing and other means, while also helping launch companies such as imaging device maker Resoundant.

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