I know they've been on an acquisition binge (i3, campbell alliance and now PharmaNet). Curious if anyone currently works for them as a rep and has anything interesting to share...
What's going inside inVentiv Health nowadays?
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I know they've been on an acquisition binge (i3, campbell alliance and now PharmaNet). Curious if anyone currently works for them as a rep and has anything interesting to share...
They are gobbling up these sort of companies since they can't secure any contracts for a sales forces. Soon the firm will sell the company on the fact it offers tons of services. They'll showcase they increased the bottom line with these acquisitions but more Pharma companies are going fixed duration route so their core services ( or there prior core services) are no longer needed. (see dialouge coach - http://www.inventivhealth.com/about_us/n_press_releases_detail.aspx?id=170&year=2006)
A lot of big Pharma castaways will take jobs and produce very little but will all be given golden parachutes when its sold again. They will overpay in order to minimize turnover.
As for being a rep, I have nothing good to say but it's a job I took after I was laid off from the merck/shering merger.
The BI contract keeps expansing but outside of that they can't seem to land any other larger contracts, ust small ones. It seems Novoquest/Innovex keeps getting the big ones and may have a couple of more in the fall. I would love to know what Novo does that InVentiv does not in order to get those other contracts. It may come down to relationships and now that TH is gone so are the relationships he had. It seems when he was on board InVentiv could produce.
You are partly correct. inVentiv is buying companies to increase the perceived total value of the company for resale under the "One stop shopping" schtick. The buyout firm that owns inVentiv is only interested in turning it for a profit, within 3-4 years according to them.
However, the only people that will profit on the sale are the investors in the limited partnership that was formed to raise the capital to buy the company. Employees will not profit, with the exception of a few key people that may have cut back room deals.
All of the employees of inVentiv should be prepared for significant cost cutting measures and increased quotas, goals, etc. Remember, the owners don't care about the long-term morale or health of the company, they just want the numbers to look good on paper for the buyer.
It's just business. Would you not do the same? Sure you would, so stop worrying about it.
I prefer to call them inventive health. What do you all think? The time the erm's spend with us in the field and the solid input that they give us. All I know is that I would not be the top notch rep that I am if my manager hadn't made me into the solid performer that I am!! Thank you!!!!!!!
Walking Eagle
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- Walking Eagle Jun 28, 2011 at 08:09: PM
Walking Eagle
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Obvious post from a lame manger who cannot even spell the name of the company correctly....
I've had some very bad experiences with this company. Because it is on "temporary hold" for 3-4 years, there is no corporate culture. Management is not cohesive, not team oriented and people there are very "solo" oriented as everyone there seems to be in fear mode. Communication has always been horendous with this company, but now it is really scary...not a place to be for sure!
Private Equity company that owns inVentiv is interested in one thing $$$$$$$$$$$$$$$ and how to get it as fast as possible...they are not interested in running a CS0 for any length of time..Spruce up the numbers, create a buzz and sell it to the next sucker(investor)..these guys are like used car dealers, buy trade in cheap, wash/wax the vehicle and sell it off the lot as fast as possible. we're just the little people here.
The main concern over there with in house employees is that they watch their own backs and their is no "corporate culture" or team oriented environment. It is every man/woman for themselves! Not a good place to be from someone who worked inside there. Most are extremely paranoid as to what is going to happen next or who's head will roll type of mentality. In places like this, people are so caught up in this culture that they're not putting 100% into their jobs as their focus is so re-directed to just surviving there. If you took away all the fear, self survival and worry about what's going to happen next, people there would really put 100% into their jobs.
I agree. And the people on the inside at Inventiv are not looking out for "anyone" but themselves these days. They have no one's back! Believe that!
Correct. The scary part is the track record of THL Partners (private equity majority owners) in amassing huge debt to finance the acquisitions. This, along with the huge "bonuses" they pay to themselves, can suck a company dry.
As noted above, expect lots of demands for more from you for less.
InVentiv Health just outsourced all IT infrastructure positions across all InVentiv-owned companies, including all the people who maintain phones and servers...
PDI just dramatically lowered revenue guidance for 2012. What's worse is that there is a price war underway in this sector, with margins shrinking substantially. inVentiv is feeling the pain, that's for sure.
As I've argued elsewhere, someone is going to have to combine one or more of the existing competitors, or the weakest of them will continue to suffer disproportionately. The weakest are clearly PDI and inVentiv.
As I've argued elsewhere, someone is going to have to combine one or more of the existing competitors, or the weakest of them will continue to suffer disproportionately. The weakest are clearly PDI and inVentiv.
That's bullshit. Everybody who listens to Rommney knows private equity firms are job creators. Just wait, you'll see. They're going to turn you around just like Staples.
Inventiv is simply an island of misfit toys for people who got down sized and need to stay in the industry. They really could care less about employees and most of the home office employees are simply paper pushers who offer very little value
All I can say is watch out. You will be squeezed and squeezed by the bean counters and the MBAs in Boston until this hodge-podge of siloed companies is put on the selling block.
You got that right....just a bunch of hack wannabees...Get out while you can...dont wait for the next shoe to drop....this place is falling apart....FAST!!!