Brad M and Ray F

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Anonymous said:
Friends forever!!!!!!!!!!!!
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Both are very good guys and YES friends for life. OFIX has gone through the last 4 yrs with poor management, poor direction and a negative environment. The company is in much better hands and lucky to have Brad & Ray at the helm.

And no this is not Ray or Brad leaving this thread. Think what you want. You can't argue the success they both had and established at Breg and I would bet money when it's all said and done, in time, they will achieve the same results with OFIX. Two pretty sharp guys who have a much proven record of success.
 


















Anonymous said:
Both are very good guys and YES friends for life. OFIX has gone through the last 4 yrs with poor management, poor direction and a negative environment. The company is in much better hands and lucky to have Brad & Ray at the helm.

And no this is not Ray or Brad leaving this thread. Think what you want. You can't argue the success they both had and established at Breg and I would bet money when it's all said and done, in time, they will achieve the same results with OFIX. Two pretty sharp guys who have a much proven record of success.
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Yes Neimann we know you have to kiss butt. Hopefully this will get you some brownie points. But 3 gets crowded so I wouldn't have high hopes of making it a dynamic 3 some
 






Both of these guys are clowns; neither understand the core financials of how to run a business, let alone this company. Additionally without true financial strength (or leadership for that matter) the company will remain in a state of flux. until a strong CFO is hired who can direct and fix the mess inherited at Ofix - someone needs to keep the two BFF's from making even more mistakes with the company's financial position.

Earnings coming soon? Will they de-list? It is quite a ride to watch from the outside looking in, thankfully I was spared and left already.
 






Anonymous said:
Both of these guys are clowns; neither understand the core financials of how to run a business, let alone this company. Additionally without true financial strength (or leadership for that matter) the company will remain in a state of flux. until a strong CFO is hired who can direct and fix the mess inherited at Ofix - someone needs to keep the two BFF's from making even more mistakes with the company's financial position.

Earnings coming soon? Will they de-list? It is quite a ride to watch from the outside looking in, thankfully I was spared and left already.
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The financial mess/fraud was created by Darth Vaters and McCollum. Interesting how we have heard nothing from the SEC since the investigation of misappropriated reporting. With that being said, a lot of the accounting mess pre-dates Brad Mason and falls on Vaters who Mason is trying to clean up the complicated accounting mess. This is a very complicated mess to try and figure out what the true numbers were in 2011 & 2012 when their was much misappropriated revenue. To say Brad and Ray are clowns is a stupid comment. They built a $100 million dollar bracing business from scratch and sold it for more than twice that, I don't think clowns and people who don't understand financials can pull that off.
 






It's month-end and the portal is down! And the entire Lewisville office is experiencing power outages... No ETA as to when communication will be restored. Very scary! Is this a sign of things to come? Should the reps start interviewing at Dominos??
 






Anonymous said:
The financial mess/fraud was created by Darth Vaters and McCollum. Interesting how we have heard nothing from the SEC since the investigation of misappropriated reporting. With that being said, a lot of the accounting mess pre-dates Brad Mason and falls on Vaters who Mason is trying to clean up the complicated accounting mess. This is a very complicated mess to try and figure out what the true numbers were in 2011 & 2012 when their was much misappropriated revenue. To say Brad and Ray are clowns is a stupid comment. They built a $100 million dollar bracing business from scratch and sold it for more than twice that, I don't think clowns and people who don't understand financials can pull that off.
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This tells me they don't understand the true valuation of what their entity was worth. If they built a $100 million dollar company and got barely double that, where is their multiplier? This is the most basic of transactions, yet they failed to capitalize and fully monetize their time and efforts. However, we are supposed to believe that they are capable of turning around this massive and complicated accounting mess?

Wake up. The divisions are being placed in silos to make for easier M&A. Ortho will be gone prior to year end. That's what they were brought here to do, divide, sell, streamline, improve top line.
 






Anonymous said:
This tells me they don't understand the true valuation of what their entity was worth. If they built a $100 million dollar company and got barely double that, where is their multiplier? This is the most basic of transactions, yet they failed to capitalize and fully monetize their time and efforts. However, we are supposed to believe that they are capable of turning around this massive and complicated accounting mess?

Wake up. The divisions are being placed in silos to make for easier M&A. Ortho will be gone prior to year end. That's what they were brought here to do, divide, sell, streamline, improve top line.
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Double was tongue and cheek. They got more than that, the point was these are not some dumb guys who don't know what they are doing. Nobody is going to buy Ortho with caveman technology, physio stim or a business going backwards. Unless it's some stupid company who does NO due diligence. Spine stim business which is profitable is having a lot of reimbursement issues. Who want to buy that business with so much uncertainty and reimbursement issues. Most companies don't want to buy businesses with reimbursement issues and 3rd party billings uncertainties. Spine implants appears to be getting it's ass kicked and sales have been reversing.

So, who wants to buy Ofix spine implants and have to deal with misfit, disloyal distributors. Trinity has no reimbursement, no studies or white papers. Although it seems like their are a lot of biologic companies selling out lately. That business might have some buyers. Bottom line Orthofix is still pretty profitable and can be a viable business as is, but most companies looking at buying it have too many uncertainties to deal with to invest 2-2 1/2 times sales. There has been speculation for 20yrs that Orthofix was going to sell and it still hasn't happened. If it could not sell when Ofix was at it's prime, I find it hard to believe someone will come in now and buy it.
 






Anonymous said:
This tells me they don't understand the true valuation of what their entity was worth. If they built a $100 million dollar company and got barely double that, where is their multiplier? This is the most basic of transactions, yet they failed to capitalize and fully monetize their time and efforts. However, we are supposed to believe that they are capable of turning around this massive and complicated accounting mess?

Wake up. The divisions are being placed in silos to make for easier M&A. Ortho will be gone prior to year end. That's what they were brought here to do, divide, sell, streamline, improve top line.
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Brad was brought back in because he was the President of Orthofix before Vaters got fired. Bringing him back made perfect sense since he was familiar with the company. He brought Ray in because they have a long business relationship based on trust and a solid performance history. It was a smart move on the boards part.
 






Anonymous said:
This tells me they don't understand the true valuation of what their entity was worth. If they built a $100 million dollar company and got barely double that, where is their multiplier? This is the most basic of transactions, yet they failed to capitalize and fully monetize their time and efforts. However, we are supposed to believe that they are capable of turning around this massive and complicated accounting mess?

Wake up. The divisions are being placed in silos to make for easier M&A. Ortho will be gone prior to year end. That's what they were brought here to do, divide, sell, streamline, improve top line.
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Ofix is not even close to selling or having a buyer. What reputable company is going to buy Ofix when it can't balance it's books bcz of erroneous booking going back to 2011. Pre-Brad Mason. It would take years of established revenue bookings for anyone to seriously consider buying Ofix.

With that being said, nobody is going to buy a company with such fragmented businesses and a 3rd party DME business with reimbursement issues. Especially since they converted the 3rd party DME business (spine stim) from direct to distributors.

The dumbest move ever. They lost control of the business once they opened up Pandora's box. And, I don't know many companies interested in dealing with cocky, arrogant and God complex distributors.
 


















Anonymous said:
Double was tongue and cheek. They got more than that, the point was these are not some dumb guys who don't know what they are doing. Nobody is going to buy Ortho with caveman technology, physio stim or a business going backwards. Unless it's some stupid company who does NO due diligence. Spine stim business which is profitable is having a lot of reimbursement issues. Who want to buy that business with so much uncertainty and reimbursement issues. Most companies don't want to buy businesses with reimbursement issues and 3rd party billings uncertainties. Spine implants appears to be getting it's ass kicked and sales have been reversing.

So, who wants to buy Ofix spine implants and have to deal with misfit, disloyal distributors. Trinity has no reimbursement, no studies or white papers. Although it seems like their are a lot of biologic companies selling out lately. That business might have some buyers. Bottom line Orthofix is still pretty profitable and can be a viable business as is, but most companies looking at buying it have too many uncertainties to deal with to invest 2-2 1/2 times sales. There has been speculation for 20yrs that Orthofix was going to sell and it still hasn't happened. If it could not sell when Ofix was at it's prime, I find it hard to believe someone will come in now and buy it.
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To answer that question, look broad spectrum, do you not see the silos being built between divisions? OFIx in it's entirety will not be sold. Particular divisions will be ported, or licensed out (READ ORTHO). That's what the whole set up is for, moving away from Ortho and focusing on the most profitable divisions. Word is they are actually willing to take less than sales to get the deal done and absolve the inventory carrying costs.
 






Anonymous said:
Ofix is not even close to selling or having a buyer. What reputable company is going to buy Ofix when it can't balance it's books bcz of erroneous booking going back to 2011. Pre-Brad Mason. It would take years of established revenue bookings for anyone to seriously consider buying Ofix.

With that being said, nobody is going to buy a company with such fragmented businesses and a 3rd party DME business with reimbursement issues. Especially since they converted the 3rd party DME business (spine stim) from direct to distributors.

The dumbest move ever. They lost control of the business once they opened up Pandora's box. And, I don't know many companies interested in dealing with cocky, arrogant and God complex distributors.
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PS- Those cocky, arrogant, god complex distributors drive more valuation for organizations than direct models do. If they don't they don't get paid. There are no safety nets, there are no guarantees. It's big boy sales, not hit your quota get a pat on the back little Johnny BS that the direct model is. Why do you think the pendulum swings every 5-7 years from direct to distributor?

It's because the board looks at the money they are paying to distribution, they think it's too much, irrespective of the top line revenue, and they move to go direct. Sales steadily decline under the direct model, cost of running a direct sales force was greater than anticipated, back to distributor, ride the wave up, rinse repeat.
 






Anonymous said:
PS- Those cocky, arrogant, god complex distributors drive more valuation for organizations than direct models do. If they don't they don't get paid. There are no safety nets, there are no guarantees. It's big boy sales, not hit your quota get a pat on the back little Johnny BS that the direct model is. Why do you think the pendulum swings every 5-7 years from direct to distributor?

It's because the board looks at the money they are paying to distribution, they think it's too much, irrespective of the top line revenue, and they move to go direct. Sales steadily decline under the direct model, cost of running a direct sales force was greater than anticipated, back to distributor, ride the wave up, rinse repeat.
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Sales decline under direct. Are you serious? Sales were much higher at OFIX when it was direct than it is right now. Why do you think companies like Danek have shifted from distributor model to direct. They are bringing it back in house and buying out alot of the distributors. Paying distributors 23% is a cost savings compared to direct? Obviously, math wasn't you're strength. Plus you're selling about $15-$20 million less than when Ofix was predominately direct. That sounds like a great decision.
 






Anonymous said:
PS- Those cocky, arrogant, god complex distributors drive more valuation for organizations than direct models do. If they don't they don't get paid. There are no safety nets, there are no guarantees. It's big boy sales, not hit your quota get a pat on the back little Johnny BS that the direct model is. Why do you think the pendulum swings every 5-7 years from direct to distributor?

It's because the board looks at the money they are paying to distribution, they think it's too much, irrespective of the top line revenue, and they move to go direct. Sales steadily decline under the direct model, cost of running a direct sales force was greater than anticipated, back to distributor, ride the wave up, rinse repeat.
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Obviously you are not an Orthofix Distributor. They hardly wear 'big boy pants' with their fitters, MSA's and new employees being paid for by Orthofix. The direct reps are 100 percent commission so have no safety nets or guarantees.
 






Anonymous said:
Sales decline under direct. Are you serious? Sales were much higher at OFIX when it was direct than it is right now. Why do you think companies like Danek have shifted from distributor model to direct. They are bringing it back in house and buying out alot of the distributors. Paying distributors 23% is a cost savings compared to direct? Obviously, math wasn't you're strength. Plus you're selling about $15-$20 million less than when Ofix was predominately direct. That sounds like a great decision.
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Because they were selling product illegally remember? Worst "Sales force" ever.
The only reason they went back to distributors is so they can pretend they don't know how the stims continue to be sold...Illegally! Bad business
 






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