Background: Lane Rettig (WG’14, G’14) set out to simplify hospital communication, and successfully exited his company Seratis earlier this year.
Tell us about your company and the stage you’re currently at.
Seratis was a healthcare technology company with an enterprise software platform that made communication and care coordination significantly easier for clinicians at large hospitals such as Penn Medicine. It was acquired earlier this year by HudlHealth, Inc., which has re-branded the product and continues to market it as MyHudlHealth.
What makes you most proud about Seratis?
I’m most proud of the feedback we got from our clinical users: that it had a significant positive impact on their professional lives, and that it enabled them to care more effectively for their patients and help them get home sooner.
Why did you become an entrepreneur?
Two reasons: one, because I think we can have a much bigger positive impact on the world by creating value (as opposed to capturing value), specifically, by innovating and creating something where before there was nothing. Two, because I love challenge and nothing holds a candle to the challenge of being an entrepreneur!
How did your Wharton experience help you when you started your business?
I don’t even know where to start, the list is far too long. Put simply, we could not have done what we did without Wharton. The Wharton network and brand opened countless doors and warmed countless introductions, and our courses gave us the tools we needed — financial, legal, accounting, operational, etc. — to launch and operate a complex company as a small team.
What advice do you have for aspiring entrepreneurs at Wharton?
Decide now whether you’re ready, willing, and able to seriously commit to entrepreneurship as a full-time endeavor. If you are, burn your lifeboat — you cannot have a backup plan. That means no info sessions, no resume drops, no coffee chats. Wharton tends to pull you in a thousand directions. Reflect on which direction makes the most sense for you today, and go all in. I guarantee you won’t find a pursuit more challenging or more rewarding than entrepreneurship!
Thank you for the interview!