The first in a new season of our Unicorn Leaders series, Russell Goldsmith and Debbie West were joined online from Denver, Colorado by Sami Inkinen, the CEO and co-founder of Virta Health, the leader in type two diabetes reversal and creator of a new standard in medical care for people living with type two diabetes, prediabetes, or obesity. Founded in 2014, the company achieved unicorn status in December 2020, and hit a $2 billion valuation in July 2023. About Virta Health and Passion for Diabetes Reversal: Sami describes Virta Health’s mission to reverse type two diabetes in 100 million people. He emphasises the potential for nutritional reversal of type two diabetes, driven by personal experience and a desire to challenge traditional disease management. Despite being a successful athlete, Sami discovered he was on the path to developing type two diabetes, sparking his interest in alternative treatments. His background in technology and entrepreneurship, coupled with the opportunity to impact millions of lives, led to the founding of Virta Health. Transition to Virta Health: Sami reflects on his initial disbelief at being at risk for type two diabetes despite his active lifestyle. The realisation that nutrition plays a crucial role in metabolic health led him to explore solutions beyond traditional medicine. A chance meeting with Dr. Stephen Phinney, a scientist specialising in nutrition, laid the groundwork for Virta Health’s inception. Balancing Sports and Business: Sami shares the intensive six-month preparation process for his rowing expedition from California to Hawaii. Despite no prior experience in rowing, Sami and his team underwent rigorous physical and mental training for the journey. Sami discusses the symbiotic relationship between his sporting achievements and business success. Maintaining multiple identities, including CEO, athlete, and family member, helps him achieve balance and creativity. Prioritising essential activities and saying no to distractions allows Sami to focus on Virta’s mission and personal pursuits. Drawing parallels between elite sports and business, Sami highlights the importance of treating oneself well for optimal performance. Highlighting the value of continuous improvement and maintaining a growth mindset, Sami shares how athletes focus on the process rather than just outcomes. The journey from Finland to Silicon Valley: Sami traces his journey from growing up on a farm in Finland to pursuing his entrepreneurial dreams in Silicon Valley. Inspired by the allure of Silicon Valley as the ultimate arena for innovation, Sami embarked on a path to build impactful ventures. Reflecting on his successful tenure at Trulia, Sami discusses the serendipitous discovery of Virta Health’s mission and his decision to pursue it. Despite apprehensions about starting another company, Sami’s passion for transforming healthcare propelled him to co-found Virta Health. Investment in Virta Health: Sami emphasises the responsibility associated with raising funds for Virta Health, viewing it as a means to fulfil the company’s mission rather than a vanity metric. Funds raised have been allocated towards product development, including telemedicine platforms and AI, as well as building the commercial go-to-market infrastructure. The virtual approach: Virta Health utilises a fully virtual approach to deliver its product, focusing on helping people reverse type two diabetes and lose weight through telemedicine. Each patient receives personalised support from a medical doctor, a coach, and access to software-served content, resulting in impressive outcomes such as an average 13% body weight loss and a majority of patients getting off insulin. Virta Health operates with a hybrid model, leveraging virtual delivery for patient care while maintaining physical office locations in San Francisco, California, and Denver, Colorado. This approach allows for flexibility and collaboration, essential elements in today’s work environment. Sami emphasised the importance of establishing a strong company culture early on, with defined values that guide decision-making and behaviour across the organisation. Unicorn perceptions: One of the key challenges discussed was the term “unicorn” often associated with high-valued startups. Sami expressed his dislike for the label, preferring to focus on the company’s impact on its mission rather than its valuation. He emphasised the importance of scaling impact, with Virta Health’s mission to reverse type two diabetes in millions of people globally. Looking ahead: Looking ahead, Virta Health plans to expand internationally and integrate AI technology into its processes to further enhance patient care. Sami also shared valuable fitness tips, advocating for a balanced approach to nutrition, sleep, and exercise for overall health and well-being. In conclusion, the conversation with Sami Inkinen shed light on Virta Health’s innovative approach to healthcare and its commitment to making a meaningful impact on people’s lives. As the company continues to grow and evolve, it remains focused on its mission of transforming the way chronic diseases are treated and managed. PRCA members receive 10 CPD points for listening to this podcast if they log it on the CPD programme. View episode
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