Sientra Imploding

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A tad off tangent to this post, How does one become a implant rep? What type of experience do you need and where can you find these openings? One of my best friends is a plastic surgeon and suggested I look into it.
 
















Anonymous said:
A tad off tangent to this post, How does one become a implant rep? What type of experience do you need and where can you find these openings? One of my best friends is a plastic surgeon and suggested I look into it.
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First you need sales experience, medical device sales is a plus. Network now. Find a position on one of the company websites. Apply. There really isn't anything different than any other job you might be seeking.
 
















They completely shut down R&D. I heard they have already had 3 layoffs this year, one that decimated marketing. I heard they have been for sale for 2 years but nobody wants them.

Rob Heidger is sad he left Mentor.

Rob is a nice person and really well received. He only sells on price so he decimates and commoditizes the market.
 
































anonymous said:
It's the other way around, Mentor is imploding. Once Sientra launches their new US-made implants shortly, it will be all over for Mentor.
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It's sad actually. Jeff Nugent has made some critical errors in his acquisitions that have shortened the time to when Sientra will be out of money. His MiraDry acquisition hasn't gone well. While
added to their portfolio, it reduced their cash reserves by about 2 months in relation to operating costs. With the delays in manufacturing that two months is an Achilles heel.

Sientra was never profitable even before their fire. They are down to their last $26 million in cash which is about 2 quarters left until they won't be able to keep the lights on. Even when they are able to sell their US made implants, they have a problem. The surgeons who aren't using them

1. have had 2 years building experience, relationships and (most importantly) shelf stock of Mentor or Allergan.
2. Have lost confidence in Sientras longevity. In other words, will their guarantees like their C3 program still be around if they go under? Why switch and lose a relationship and price with their current vendor if Sientra goes under in a few quarters?

It's going to be almost impossible for Sientra to stay open. Nugent is talking about getting an extra "10 million in funding" due to manufacturing milestones they have hit. That will last them less than one quarter.

The last round of funding they received was when they had solid growth and were new to the space with their 5th generation gel. The two other companies have since launched their 5th gen gel implants. Since their last round of funding, ASPs are lower so margins will be greatly affected and lender confidence will be down.

Say Nugent gets funding that's 50% of their last capital raise. So it's $30M. This literally keeps their lights on for 3 more quarters in addition to the 2 quarters of cash they have on hands.

That's 5 quarters until Jeff Nugent has officially run the ship into the bottom of the ocean and the movie credits roll.

Had he not made those two acquisitions, it would have given Sientra an additional two quarters to pull up out of the free fall. Unfortunately he continued to spend cash reserves like a sailor at port and made two critical errors.

its unfortunate because the Sientra implant is probably the best implant on the market when considering data and aesthetics. But the perfect storm of the FDA inquiry, fire and Nugents mismanagement will most likely be the end of what could have been one of the most powerful companies in the space.
 








This is all spot on. Especially the Nugent component.

Complete and total mismanagement, and very far past his prime--if he had one. Now maybe we know why his stint at Revlon was so short. Sientra had the key relationships and Nugent ruined that. The coolest brand in Aesthetics became represented by a terrifyingly un-aesthetic kook who turns off doctors left and right.
 








anonymous said:
It's sad actually. Jeff Nugent has made some critical errors in his acquisitions that have shortened the time to when Sientra will be out of money. His MiraDry acquisition hasn't gone well. While
added to their portfolio, it reduced their cash reserves by about 2 months in relation to operating costs. With the delays in manufacturing that two months is an Achilles heel.

Sientra was never profitable even before their fire. They are down to their last $26 million in cash which is about 2 quarters left until they won't be able to keep the lights on. Even when they are able to sell their US made implants, they have a problem. The surgeons who aren't using them

1. have had 2 years building experience, relationships and (most importantly) shelf stock of Mentor or Allergan.
2. Have lost confidence in Sientras longevity. In other words, will their guarantees like their C3 program still be around if they go under? Why switch and lose a relationship and price with their current vendor if Sientra goes under in a few quarters?

It's going to be almost impossible for Sientra to stay open. Nugent is talking about getting an extra "10 million in funding" due to manufacturing milestones they have hit. That will last them less than one quarter.

The last round of funding they received was when they had solid growth and were new to the space with their 5th generation gel. The two other companies have since launched their 5th gen gel implants. Since their last round of funding, ASPs are lower so margins will be greatly affected and lender confidence will be down.

Say Nugent gets funding that's 50% of their last capital raise. So it's $30M. This literally keeps their lights on for 3 more quarters in addition to the 2 quarters of cash they have on hands.

That's 5 quarters until Jeff Nugent has officially run the ship into the bottom of the ocean and the movie credits roll.

Had he not made those two acquisitions, it would have given Sientra an additional two quarters to pull up out of the free fall. Unfortunately he continued to spend cash reserves like a sailor at port and made two critical errors.

its unfortunate because the Sientra implant is probably the best implant on the market when considering data and aesthetics. But the perfect storm of the FDA inquiry, fire and Nugents mismanagement will most likely be the end of what could have been one of the most powerful companies in the space.
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How ya like me now?
 
















So it took a bit longer than people expected - but Sientra filed for bankruptcy! Going to keep operating while reorganizing, lol. Maybe they should combine Sientra and Minerva together and then toss them both in the dumpster.
 








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