Bacterin Biologics

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Looking at a possible opportunity with this company. What does an average rep make? Is the draw negotiable? What are the benefits like with this company? Thanks for any help.
 
















Guy gave me my sales targets and I hit them. I managed to get the product into all the major hospitals in my region. A distributor came a long and he brought them on, gave the doctor I signed up for the scientific advisory board to another rep and let me go. Since then they have gotten rid of the distributor, gotten rid of another one, and now have hired another direct sales rep who I know is struggling. They will cut you lose in a second if they think someone else can bring in an extra buck. Prospective reps and distributors beware. (I also found the office folks in MT to be petulant and bitchy).
 




Wow. Sounds like nothing has changed over the years. Wonder how long this sales force will last? Now Cook has to disclose his earnings..or lack of ..the stock has not fared well. How is turnover nowadays? Seen the yahoo finance posts on BONE?
 
















I would be genuinely very interested to get unbiased information about this company, but it's hard to come by. Everyone seems to have an opinion. In these posts, the opinions seem to run more negative than positive. Then there are links to Spineblogger. I tried to figure out what their perspective is, and they seem to be negative on everything. They say in a recent post, "Interestingly, a few of our bloggers commented that rather than focus on the negative in spine, how do we change the public's perception and police the industry ourselves, especially in light of the controversy swirling around POD's and INFUSE?." So the fact that they are negative on this company does not seem to make this company unusual in any way. They are clearly not offering an unbiased review of the business model. My sense is that this company is less than rigorous when it comes to truth, advertising, marketing, and perhaps science. But that doesn't necessarily mean the company will fail or cannot be profitable. It is, after all, fairly small, and many companies start out somewhat shaky and then improve. Can anyone point to some truly unbiased analysis of these guys? Thanks. Dan
 




I meant to include accounting in that list of things they are less than rigorous about. I don't completely trust it -- but is it simply aggressive (which is not too unusual), or outright phony?
 




Also, one link pointed out that Pegasus Biologics had gone under (implying that Bacterin is next). But FYI, the Pegasus portfolio was acquired by Synovis, which explains it this way: "From conception, Pegasus grew to over $21 million in cumulative revenue, over $9 million in revenue in 2008 alone. Unfortunately, the 2008/09 economic downturn caused the leading financer of the Company to pull its financial support which resulted in the sudden demise of Pegasus."

They say: "Synovis Life Technologies, Inc. recognized the opportunity to expand its biologic portfolio and purchased the Pegasus assets in July 2009, re-establishing the company as Synovis Orthopedic and Woundcare, Inc. Synovis Life Technologies is a publicly traded company (SYNO) headquartered in St. Paul, Minnesota with over 25 years of biologic device experience."

You can find the OrthADAPT (a Pegasus product) on the Synovis website --

http://synovisorthowound.com/Products.asp
http://synovisorthowound.com/products_orthopedics.asp

Not only that, Synovis appears to be an established company with a $200 million market cap that has been growing. That would imply that Pegasus' products were not worthless after all. Certainly Medtronic is a gigantic company if they are indeed competition. With some of the problems with some of the devices of the competition, does that introduce opportunity? Or is Bacterin just a hole in the wall scam and investor / sales rep trap?

Dan
 




Bacterin is just a hole in the wall scam and investor / sales rep trap!


Go to linked in..look up their reps and ask them. Average tenure is about four months. They have gone through about four generations of sales teams over the years. Each time they run out of money. Cook is not who you want to depend on.
 




Wow, all the haters out there. Bacterin continues to grow at 100 % +, they seem to be doing something right. 2012 guidance of 53 to 56 million. 30 plus million this year. All of the EVP's have been promoted from the direct sales force, 10 of the 13 RVP's have been promoted form the direct sales force. Top reps making 250k plus. It must really burn your ass you weren't one of the ones promoted and you got terminated. You must be a really bad at sales, sucks to be you.
 




They claimed the same guidance last year. Maybe this year they will hit it if they dont run out of money first. Dont know about the "haters" as you call them but I never worked for them nor have I ever spoken to anyone who did have a good thing to say about them.

Go to work for them if you think they are that great. Pull their D&B Report. Take a look at their litigation history. Buy their stock..great buy down from $9 to under $2 bucks.

Knock yourself out. Have fun. Convince yourself as it sounds like everyone else on this board knows about them already.
 




No, you don't seem like a hater at all... Is that froth on your mouth? Must have touched a nerve with the disgruntled former employee comment. This board has been predicting the end of bacterin for almost 3 years now, and the sales have skyrocketed during the same time frame. Why are you so wrong with your predictions? Just admit it, your anger is pure hatred for one or more bacterin managers and doesn't have anything to do with the success or business of bacterin.
 




I agree with #55 if you feel so warm and fuzzy about them, go to work for Bacterin. I never have and never would at this point.

Yes there are plenty of former Bacterin employees and the ones I know do have nothing good to say about them. Many left within a few months. If a company has to spend more than they make it will again run out of money.

Do what #55 said, pull their D&B, look at their past history, past and current stock performance, and ROI. Talk to their current and former reps.

You seem to be trying to convince yourself. No one else seems to be confused.
 




I have talked to quite a few of the current reps and managers, they seem quite happy. Many were promoted from the direct sales force. They state they have 2 to 3 million in cash, a 15 million credit line, and another 30 million equity line. Is that true? Seems hard to believe they will run out of cash. They also said they were cash flow profitable this last quarter.

Why do you hate them so, are they taking all of your business? You must be a competitor.
 




Why would Synovis post an ad on Bacterin's thread? They did fire a manager for being a scumbag that eventually went to work for Synovis. Curt, is that you? Does the misses know what you do when you are away? Im surprised you could take time away from yourbusy schedule of looking in the mirror all day to find time to post.
 








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