US BIO reorg coming, layoffs planned

[anonymous]

I agree with your comment/question regarding the detail of their post BUT........ Biotronik is NOT doing well and they are NOT fiscally healthy in the United States.

If they were doing well and were in-fact fiscally healthy in the United States, they would be backfilling both in-house and field positions, they would be ramping up their clinical research, they would be investing in a true remote monitoring platform (they started it but have been stagnant with their progress for way too long), they would commit to GPO/IDN relationships.... They are doing neither of these.

BTK - USA is nothing more than a cash cow for Max. It's a distributorship.... nothing more. As long he makes $$$$ on the devices that he sells to them he's happy.

What if Ryan's appointment by the board as President of the BIO-US distributorship was not to execute a "turn around" or get the company on track for long term success but rather to do what is necessary to clean up the company and prepare for an exit from the US CRM market? Not saying the products would be withdrawn but perhaps the time has come to seek commercialization via another means as opposed to a dedicated direct sales force and all the costs and logistics that come along with that. If BIO products are niche (both in clinical application and contract) does it really make sense for Max to pay for all this infrastructure when the hopes of growing/expanding are so bleak? It is not a secret that Marlou explored 3rd party sales arrangements for Biomonitor and even DX and I know work to secure contract sales for Biomonitor has continued under Ryan.

Given the increased lack of investment in so many areas of the company critical for long term stability, is it not possible a decision has already been made?

 

[anonymous]

What if Ryan's appointment by the board as President of the BIO-US distributorship was not to execute a "turn around" or get the company on track for long term success but rather to do what is necessary to clean up the company and prepare for an exit from the US CRM market? Not saying the products would be withdrawn but perhaps the time has come to seek commercialization via another means as opposed to a dedicated direct sales force and all the costs and logistics that come along with that. If BIO products are niche (both in clinical application and contract) does it really make sense for Max to pay for all this infrastructure when the hopes of growing/expanding are so bleak? It is not a secret that Marlou explored 3rd party sales arrangements for Biomonitor and even DX and I know work to secure contract sales for Biomonitor has continued under Ryan.

Given the increased lack of investment in so many areas of the company critical for long term stability, is it not possible a decision has already been made?

I think if you are asking the question, you already have your answer.

 

[anonymous]

I think if you are asking the question, you already have your answer.

Fully agreed. This is not a rescue rather a salvage op.

 

[anonymous]

Where is management taking BTK? Where is BTK's place in the market? Are we getting new leadership? If so, who will it be?

Folks....... get your heads out of the sand. What you see..... what you see right now with BTK is what you get. It hasn't changed since the day they opened up shop in the US.

> New management every 5+/- years. Heck, Brown and his crew had the longes tenure.

BTK will never be a major player with the national GPOs/IDN. It's not for lack of quality in their products but rather...
1) A lack of diversity in their portfolio. The Big 3 can cover heart disease from A to Z which brings leverage to the table. BTK just can't do it.

2) Another glaring weakness when sitting at the negotiating table is IF a major hospital system were to drop 10 million in BTK's tomorrow they cannot handle the workload. They just can't.

Do they pay more than the Big 3? Yes but outside of a 401k what else do they offer you? There is no stock. No enhanced retirement plans. Only bare bones medical coverage. Oh yeah, you can get a discount at the local gym in Lake Oswego.

So, stop bitching about working for BTK and panicking over their future. Just look back at their history..... It will be repeated.

Summarized perfectly and you are totally correct. The company is unlikely to grow to any measurable extent given these limitations. So, happiness at BTK really depends on setting your expectations, understanding that leadership churn is a fact of life and career advancements is likely not in the cards for most. It can be a good "stopover" on the way to someplace else as so many have done in recent years but don't look to make a career out of a trip through BTK unless you are okay with limited to no upward mobility and a revolving door above and below you.