Invuity

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Interesting technology though highly subject to competitive entry. Devices are class I so there are no clinical data barriers to entry therefore the company is really relying only on their patent portfolio to protect them. The patent landscape is crowded so it will be dificult for them to prevent others from introducing alternative products. They have a big task in trying to convince VACs to allow the product into the hospital since it adds $300-500 to the cost of any surgery. Right now their reps spend most of their time working the VAC and administration and are having a very tough go of it. Hospitals are struggling to see the value. Likely that these guys will do a lot of the heavy lifting to create the market and then get undercut by cheaper competitive products. They already have a least one competitor with a similar product.

The sales force continues to experience heavy turnover as they company struggles to understand the hiring profile and sales model. This is not classic surgical selling role at all. The reps spend minimal time in the OR and most of their time trying to make economic arguments in the carpeted halls. Comp plan looks OK at first glance but is designed so that even when the company has made its targets a large portion of the sales team is considered under plan. May be reflective of comments I've heard that the VP of Sales and Marketing lacks integrity but I don't know him personally.

My two cents: there are much stronger, lower risk opportunities out there.
 




Great post. Trying to understand this technology more. Is it a capital sale, or are there disposables involved? Are the lights one-time use, or are both the add-ons to the retractors and lights sterilized for use?
 








It's a combo capital/disposable. They sell proprietary retractor sets for ~$10k and then the lighting is delivered through a disposable with a ~$250 ASP. They also have disposable hand held light sources (yankauers) that are priced similarly.

The disposables present the challenge, the company needs them to create a recurring revenue source but the hospital looks at them as simply adding cost to the cases so they have to rely on very passionate surgeons who are willing to really fight for the product. In addition, at a $250 ASP the company can't afford to have reps hanging around the ORs or in cases driving utilization so they run into the problem that even once they get the product into the hospital they have trouble profitably maintaining and growing utilization.
 




Any Invuity reps here? Whats it like, hows the culture, is plan attainable and are you able to get your product used? If not shelf stocked, can you get good evaluations going placing the instruments and getting a lot of disposables used? Then, can you get the instruments purchased?? Oh and what are you making?
 












Invuity is a good company. The technology is sound and as the market drives surgeons to make smaller incisions, the technology plays an important role. I will admit, the asp is a bit high, but we are all used to fighting for dollars within a procedure. As always, surgeons determine which technologies are applicable or necessary for their procedures. This is not an opportunity to push commodity products nor is this a company where you can slack off. Quotas are distributed each quarter. You are allowed to work with distributors and 1099's which makes it easier to ensure utilization after its implemented. As with any job or company, the people make the culture.
 




Anonymous said:
Invuity is a good company. The technology is sound and as the market drives surgeons to make smaller incisions, the technology plays an important role. I will admit, the asp is a bit high, but we are all used to fighting for dollars within a procedure. As always, surgeons determine which technologies are applicable or necessary for their procedures. This is not an opportunity to push commodity products nor is this a company where you can slack off. Quotas are distributed each quarter. You are allowed to work with distributors and 1099's which makes it easier to ensure utilization after its implemented. As with any job or company, the people make the culture.
Click to expand...

"Allowed to work with distributors, 1099s..." In what way? Do they have skin in the game?
 




Did anyone from this thread end up working here? Tech looks solid if you can get it past VAC. Recruiter is claiming $225 at plan. I'm not sure how that's possible selling $300 disposables. Any feedback would be appreciated.
 




Don't trust the female recruiter Barber, she lied to me about income, & I understand she's doing our VP of Sales, my boss told me they don't have any choice about using her.
 












Wow, the rumors that are just thrown out there....LOL.

Janelle lives in Utah while Bob is in the Bay area. They both worked together at Lysonix and Leibinger but hey, sleeping together sounds better though I guess if you're disgruntled.

In regards to comp and such, I am a recruiter and actually know 2 reps over there that I placed in previous med device jobs. One has been there 16 months and has done just over $240k for 2015 while the other just started in September and has no complaints. The resumes we have seen over the last 3-4 months w-2's range from $196kto just a shade over $225k.

Hope this helps.
 








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