“The healthcare industry is one of the world’s largest and fastest-growing industries. This medical marketplace consumes over 10 percent of gross domestic product (GDP) of most developed nations, health care can form an enormous part of a country’s economy.”

Andy LaFrence has spent nearly five years as chief financial officer of Surmodics Inc., during which time the company has broadened its scope with acquisitions of Ireland’s Creagh Medical and Twin Cities-based NorMedix.

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“It’s a great privilege to work at the Mayo Clinic, and obviously to be the physician leader of this fine institution is a great privilege.”

2017 CFO of the year: Alec Mahmood, Prime Therapeutics. Under Mahmmood’s leadership. Prime secured a deal with Walgreens in April 2017 that combined their mail-order pharmacy and specialty drug businesses.

2017 CFO of the Year: Jay Matushak of Blue Cross and Blue Shield of Minnesota cut the losses on individual health plans by nearly half. He introduced a new portfolio of dental and vision products, and got a record-setting level of new small-employer group business.