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Pacemate Buying Paceart

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anonymous

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Just heard from Pacemate Rep that they are buying Paceart and will announce at HRS. It’s a crap product, but we’ve been telling our customers for years that we will fix it. Now we’re selling it to a company that will try to take my EP’s technical fee.
 




anonymous said:
Just heard from Pacemate Rep that they are buying Paceart and will announce at HRS. It’s a crap product, but we’ve been telling our customers for years that we will fix it. Now we’re selling it to a company that will try to take my EP’s technical fee.
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“It’s a crap product, but we’ve been telling our customers for years that we will fix it.”

The most Medtronic statement ever.
 




anonymous said:
“It’s a crap product, but we’ve been telling our customers for years that we will fix it.”

The most Medtronic statement ever.
Click to expand...
That comment is totally on point as it represents the majority of all our products; legacy or newly acquired companies.
That is the internal virus we have been fighting off since Omar took charge and accelerated when Geoff transitioned to the big chair.
 




anonymous said:
“It’s a crap product, but we’ve been telling our customers for years that we will fix it.”

The most Medtronic statement ever.
Click to expand...

Curtain opens on PRC Meeting

Team comes forward: "We need $XM to fix the product, here are the key features we need to address"

VP: "Whats the strategy? Where do we create the most value? How does this fit into our overall vision in the space for big data machine learning service revenue AI smart economic value by engineering the extrordinary by making the whole greater than the sum of the parts further, together?

Team: "um.... we just really want to fix this so cusomers can use it"

VP: Come back when you've answered all those questions. in the meanwhile, no money for you!"

Crowd "Hrumph, thats real leadership right there!"

Close curtain, take bow.
 




anonymous said:
Just heard from Pacemate Rep that they are buying Paceart and will announce at HRS. It’s a crap product, but we’ve been telling our customers for years that we will fix it. Now we’re selling it to a company that will try to take my EP’s technical fee.
Click to expand...


Come on.... you think a rep at Pacemate would know that? Nice Phish.
 












Paceart team - welcome to Pacemate, a private-equity owned company that has cut our comp and fired multiple long time leaders to buy you. You are going to love it here.
 




anonymous said:
Paceart team - welcome to Pacemate, a private-equity owned company that has cut our comp and fired multiple long time leaders to buy you. You are going to love it here.
Click to expand...

CafePharma rumors are true.

How much did Medtronic spend on failed General Managers in this division to try to make a decent product/business model? Proof again that CRM can't do new things (see also Heartware, SEEQ).
 




I can’t believe Cafe Pharma is the source of truth for the story behind Paceart being sold to Pacemate, but here is what I know. MDT sold Paceart to Pacemate for $50M. This had nothing to do with what was best for clinics or patients, but just a plain old sale of a product that was losing money that MDT did not want to carry on the books anymore. Why would Pacemate buy this old software product if MDT didn’t want it? Pacemate is owned by a PE firm called Lead Edge that intends to take the Paceart software customer list and sell them Pacemate’s full remote management services which are way more expensive. There is no other math that makes this purchase make sense. This is more co-pays for patients and bad for device clinics…period. For MDT employees, this is how the 15-20 year tenure Paceart team was treated - team call on a Tuesday notifying people that they were no longer MDT employees, there was no severance, and they needed to sign a really restrictive contract with Pacemate by Friday. This is MDT culture now. As an earlier post from Pacemate employee points out, everyone knows Pacemate is just going to suck the Paceart team for knowledge and contacts so they can fire them in a year which is the private equity playbook-old Paceart team is just taking time to look for new jobs. For MDT CRM Reps, I would not let the Pacemate crew in your clinics - dishonest and cheesy folks who are claiming close ties to MDT which is not good and there is zero upside for you.
 








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