In an era where medical technology continues to transform lives at an unprecedented pace, few individuals embody the spirit of relentless innovation as vividly as Raymond “Ray” Cohen, a veteran of the medtech industry. After orchestrating the monumental $3.7 billion sale of Axonics Inc. to Boston Scientific Corp., a deal finalized in early 2024, many might have expected Cohen to step back and savor the fruits of a 40-year career. Instead, this industry titan has chosen a path less traveled, redefining what it means to transition from executive leadership. Far from retreating into a quiet retirement, Cohen remains a driving force, channeling his expertise into board roles, advisory positions, and mentorship. His journey offers a compelling glimpse into how seasoned professionals can continue to shape their fields, not by clinging to operational roles, but by leveraging decades of insight to guide the next generation of innovators. This narrative unfolds as a testament to passion and purpose in the ever-evolving world of healthcare technology.
A Legacy of Impact in Medtech
Building Axonics into a Powerhouse
Ray Cohen’s career is marked by a series of transformative achievements, with the creation and growth of Axonics Inc. standing as a crowning jewel. Founded over a decade ago, Axonics developed an implantable device to address incontinence, a condition affecting an estimated 87 million people in the United States and Europe, particularly women over 55. The company’s rapid ascent saw it recognized as one of the fastest-growing entities in America by leading industry analysts just a few years ago. Taking the company public in 2018, Cohen steered it toward a groundbreaking acquisition by Boston Scientific, a deal that not only underscored his strategic acumen but also earned him accolades as a top businessperson in healthcare. This milestone reflects a career built on identifying critical needs and delivering solutions that resonate on a global scale, cementing his reputation as a visionary who bridges innovation with tangible impact in the medtech sector.
Recognition and Continued Influence
Beyond the financial success of the Axonics sale, Cohen’s influence in the industry remains palpable through the recognition he has garnered and the roles he continues to play. Shortly after the deal’s completion in 2024, he was honored with prestigious awards that highlighted his contributions to healthcare innovation. This acknowledgment is not merely a capstone but a reflection of his ongoing commitment to pushing boundaries. His ability to foresee market needs and guide companies toward success has kept him at the forefront of medtech advancements. Moreover, the timing of such honors alongside major transactions illustrates a consistent pattern of excellence. Cohen’s story is one of sustained relevance, where past achievements fuel present endeavors, ensuring that his expertise continues to shape industry standards and inspire confidence among peers and emerging leaders alike.
Shaping the Future Through Strategic Roles
New Ventures and Board Leadership
Even after a career-defining exit from Axonics, Ray Cohen has shown no signs of slowing down, diving into a series of high-impact roles that underscore his enduring value to the medtech landscape. On the very day the Axonics sale was finalized, he assumed the chairmanship of SoniVie, an Israeli company focused on renal denervation, which was later acquired by Boston Scientific for $600 million. Simultaneously, Cohen took on significant positions, such as an independent director and compensation committee chair at Kestra Medical Technologies Inc., a firm specializing in wearable medical devices that achieved a market cap of $757 million following a successful IPO. His involvement as a venture partner with international firms and board memberships at multiple companies further illustrates a strategic pivot. Rather than leading from the C-suite, Cohen now influences through governance and capital access, guiding organizations toward sustainable growth with a seasoned perspective.
Mentorship and Industry Engagement
Cohen’s current phase of professional life is defined by a deliberate shift toward mentorship and thought leadership, reflecting a nuanced approach to industry impact. Choosing to forgo another CEO role, he focuses on helping companies navigate complex challenges like funding and exits, while maintaining the flexibility to balance work with personal interests. His upcoming speaking engagements at major conferences, including events in Dana Point and Northern California, position him as a key voice in medtech discourse. Additionally, delivering a keynote address at a notable awards ceremony highlights his role as an influencer who shapes conversations around innovation. This transition from operational to advisory roles showcases a model for veteran leaders to remain relevant, offering strategic insights while fostering emerging talent. Cohen’s commitment to equitable business practices, emphasizing fair negotiations, further enriches his contributions, promoting a culture of balance and partnership in an often competitive field.
Vision for Lasting Impact
Reflecting on Ray Cohen’s journey, it becomes evident that his post-Axonics endeavors were not a retreat but a reinvention, driven by a deep-seated passion for medtech progress. His involvement in transformative deals, such as those with SoniVie and Kestra, demonstrates a knack for identifying and nurturing potential in diverse corners of the industry. Looking ahead, the focus should be on how such leaders can institutionalize their knowledge through structured mentorship programs and policy advocacy to ensure innovation remains accessible and equitable. Stakeholders in the medtech space might consider creating platforms where experienced figures like Cohen can connect with startups, offering guidance on navigating regulatory landscapes and market dynamics. As his influence continues to ripple through boardrooms and conference halls, the challenge lies in harnessing this expertise to address unmet needs, ensuring that the next wave of healthcare solutions benefits from the hard-earned wisdom of pioneers who redefined what it means to step away from the helm.
