Good morning bloggers! TSB apologizes for not getting more posts out this week. Fortunately, we had to follow up a multitude of e-mail leads on the status of Michael DeMane and the potential of he leading Lanx as its CEO. Before TSB comments on the situation, we would like to personally thank those bloggers that provided us with this story prior to its public release.
On Wednesday, June 30th, 2010 Lanx announced via its publicist that Michael DeMane has declined to assume the role of Chaiman and CEO of Lanx, but no Thanx. He will assist the company as a consultant. Michael, TSB hopes you take them for everything that you can get, considering that companies that hire consultants to lead them as an interim leader are poorly led and managed witnessed by the US Spine debacle.
In seven years since its inception, Lanx has had more turnover than any other company in the industry. Companies like Lanx lack true leadership being run by surgeons and individuals with no people skills. So what does this say about Lanx and some of our bloggers that reacted to our original post regarding DeMane? Maybe Lanx should become a case study at the Harvard Business School?
Lanx possesses a strong and comprehensive portfolio? Well, if you are Goldman Sachs you believe that because you wouldn't understand product you only understand numbers. A company built on one product, the Aspen, playing in a zero sum market equals eventual inertia. A deep management team? If you call constant turnover deep, then Lanx is deep in turnover. Anyone can hire a publicist to paint rosey pictures of an organization that is in such a state of disarray regardless of its success that its truly at a crossroad, meaning that it will take a complete restructuring of the leadership team which includes getting rid of the original founders. Either buy them out, or die a slow death.
As for our fellow bloggers reaction to our original post, remember one of our favorite expressions, "what you see if not necessarily what you get." TSB wants to know what our readers thing?
How many beers before this post was conceived? Seriously, spell/grammar check.
ReplyDeleteOld story.
Anonymous: you are definitely someone from Lanx, how many more managers until you people know what you are doing at that company. Hopefully, my spell check worked for your liking,
ReplyDeleteWas it take your kid to work day? You seriously need to clean up the grammar. Hard read it when poor write so.
ReplyDeleteIs there any truth to the rumor that he left because they called him Mike instead of Michael?
ReplyDeleteAnonymous 6:15 and 7:13
ReplyDeleteYou should go back to posting on Cafepharma. You never make a mistake typing? Do you ever do spell check and it replaces a word that you had it the way you wanted it, with a perfectly good word? Such as Thank and Thanks. Big deal! This site is supposed to be for constructive commenting.
Who gives a fuck about grammar. Some asshole on here is always commenting about grammar. Probably a pent up doc that can't operate for shit and wants to insult anyone else that "isn't his intellectual equal". Fuck you, this is for telling like it is... who gives a damn how it's said... it's what you are saying that matters. Texting and blogging don't need to be grammatically correct.
ReplyDeletedumbass
Listen. . . I have not made a comment before. . .but that grammar is a mess. Hard to read. Missing words. Hard to follow.
ReplyDeleteAfter looking at it, I had to go to the web and find the announcement in order to understand what happened.
Please.
On another note. . . does anyone know why he chose not to go? Seems like if the company put out a press release that the guy was coming, his employment contract was signed. Something serious must have happened in order for someone to be willing to put this much egg on a company's face.
I would guess that he has some sort of non-compete with Medtronic.
ReplyDeleteThere are two basic scenarios:
ReplyDelete1. He took an inside look at the company, realized how dysfunctional it was and got out of dodge.
2. The company got a close look at him, didn't like what they saw and showed him the door.
I am curious as to why they would even announce the CEO position being filled until they knew it was a done deal. Thats why I think he quit unexpectedly. Otherwise, they may have kept him around for awhile just to save face.
Hey Anonymous 8:58. I just read the press release by a NY firm called the Ruth Group. It provides as much info as TSB, so as a reader of this blog are you the person that constantly talks about grinding an axe? I usually like to be positive in my comments but you must be an a-hole, just ask Vanna White to turn over the two letters or use spellcheck or a dictionary. If you have nothing good to say don"t read the blog
ReplyDeleteTo this observer, Lanx has huge egg on their face over this one. Best part of the post though was the US Spine reference - the truth hurts.
ReplyDeleteIt had to be a non-compete. These things don't happen without contracts. If the guy got there and they didn't like him, they were stuck with him or had to pay him a hefty sum to go away. The same is true the other way around.
ReplyDeleteThese jobs don't exist on Monster. This guy is not filling applications. Lawyers were involved with the contracts and there was a lot of thought into this. the fact that it fell apart is a big deal.
9:44: Huh? That was my first post. Ever. But since you are such an intelligent individual whose reading comprehension and search-engine savvy is admirable, perhaps you can enlighten me (from the posting by MM) how my grammar comment was off:
ReplyDelete"DeMane has declined to assume the role of Chaiman and CEO of Lanx, but no Thank. "
I never made a comment in my post. But yes, the Ruth Group posting says the very same thing as the posting above. Namely:
1. Turnover is the highest in the industry
2. Zero sum market equals eventual inertia (you may want to look at the definition of inertia using your admirable internet skills)
3. This should be a Harvard Business School Case
I'll be dammed. The PR release obviously said the very same things. You are right, Al Gore.
Before you reply, know that I don't work for Lanx. Don't sell their stuff. Don't compete against them. Not particularly interested if the company succeeds.
One does have to admit that this story is big news in Spine and medical device in general, hence my interest.
If it was a non-compete issue, why the heck did they make the announcement before the lawyers had signed off on it?
ReplyDeleteThey would have to be either total fools, or so desperate to get some positive news out for the company that they were willing to rush the announcement.
Unless someone has evidence to the contrary, I doubt a non-compete is the issue. Besides, if he is truly under a noncompete, how can he have the consulting agreement described in the release? Consulting is always included in noncompete clauses.
One can only imagine how many of you commenting on this are former, disgruntled Lanx employees, or reps from one of the big ones who are looking over your shoulders to see who's catching up from behind... Speculate all that you want, & get in all of your verbal jabs at Lanx. Fact of the matter is this: the company is strong, going through some growing pains for sure. Any of you ever been in that type of scenario before?? I have, & Lanx's situation is not unique. When you have the kind of growth in the amount of time that Lanx has experienced, there is going to be some degree of both turmoil , & change. Most likely is more to DeManes departure than the company is telling, but I seriously doubt that any of you speculators on this blog are even close. Know this, the company is better off now more than ever. When Dr. Thramann holds a no holds barred q&a with the entire company, we know that all is well. So dis Lanx all that you want, when I'm cashing in on my shares of stock, I'll be laughing at this blog even harder than I am right now!!
ReplyDeleteAnonymous 1:04
ReplyDeleteCash in your shares? Ask all those guys at Blackstone how they did when the cashed in their shares. I'm beeting since Lanx is so unethical that they have structured things so they make out and you get screwed.
So turnover is not high? Munden, Reynolds, can"t find a direct sales force? Who"s zooming" who? Why is it whenever someone makes a coherent analysis companies get their knickers in a knot. What"s a matter, the founding fathers don"t like being called out on the carpet? Keep dreaming" on cashing out on your stock, losers as TSB should have posted correctly Lanx no Thanx.
ReplyDeleteIt was a non-compete issue. Bottomline. Lanx is not going to go public anytime soon and if it does its not going to be for much, so chill on your "cashing in on stocks" comment and just do you job. Go check out cafepharma if you want news on who is screwing who or what manager is an @%%Hole, but I used to enjoy this site when we made comments on actual important industry news. Products, upcoming meetings or who is doing what is fine, but MM please understand we like you when you dont pass judgement and flip-flop on who you liek one day and who you dont the next. We are all professionals and have earned our way in this industry somehow. As for spelling errors, who gives a shit, none of us are getting paid to spell anyway. MM, go back to the old you and leave the cafepharma stuff to pharma reps that maybe get there way into surgical implants for a cup of coffee. The good reps do well with any companies products because this industry is about relationships. Im sure the Lanx pedicle screw system works just as well as the SpineArt system and jsut as well as the Strker or synthes system. At the end of the day you have to admire business people doing anything to get to the top, but MM be careful bashing companies sales people and management cause to be honest in these troubled economical days, we are all lucky to just be collecting a paycheck and working in this great PATIENT focused industy, or at least that is what I believe.
ReplyDelete"it's a blog, if you don't like it don't read it blah blah blah blah blah" Just because it's a blog doesn't mean readers shouldn't identify entries and comments that are asinine.
ReplyDeletewho cares about the writing? i do. you stupid idiot. have some respect for your blog. you should be selling advertising. this place is great. i cant wait to read these articles all 4th of july wknd.
ReplyDeleteI've been working for Lanx for a while now and must share that it's been fun and exciting. In fact, in my double digit years in the medical device industry this is the first environment where my coworkers are happy and actually enjoying their day to day! To my surprise, the people here actually get together after work with each others families. In my personal experience every RSD has truely cared about their direct reps and distributors. When a couple of distributors complained early this year, I heard about it and it was a big deal. Several people, including myself personally called them to get the issue resolved right away and make sure that if there was any other issues, that they had my personal number to make sure things were set right. I have personally witnessed management make decisions according to what was ethically right, even though it would cost the company additional monies. I hope that Lanx has a successful future. I hope that this economy will fully recover and thrive so that we can all be successful. All companies go through growing pains and unfortantley they have to weed out the sour apples and unfortantly not everyone will be totally satisified and happy. At least, from my experience, the folks here at Lanx, don't make the same mistakes twice and if anyone did anything unethical, they are no longer with the company. It's just in my experience working with and for Lanx, I've seen them do what is right.
ReplyDeleteHey July 1, 1:04PM, Please don't tell me that you wear purple shirts, Nikes and live in San Diego.....Put down that kool-aid cup before you drink any more. You are obviously a stong supporter of Lanx. Good for you. But it is obvious that you lack either tenure in the industry, or business accumen....I know twelve employees at Lanx that have a minimum of four years and each one has resumes on the streets...Lanx actually has begun hiring Product Marketing Managers with no spine experience. What does that tell you?
ReplyDeleteit was a done deal. he was there for 10 days. man it's like twilight high school drama in here. could be prostate cancer who knows? who cares if Aspen is all Lanx has. it's a sexy device. does it's job. grammar? wha'ts that? that was hilarious. turnover? would u leave Medtronic SB? throwing stones at GS. I can't imagine their analytics, forecasting are better than TSBs? this is boring. i have cases to set up. and no u can not sell advertising with 137 followers. dems da breaks.
ReplyDeleteI think anonymous 4:39PM lives with anonymous 1:04PM
ReplyDeleteI think 1:04PM iced 4:43PM with no ice block in sight
ReplyDeleteFYI 4:43, I have over 20 years in Medical Device, for both contractors, & a couple of small companies like DuPont, & Biomet. Drink Koolaid?? You lose credibility with statements like that, but after all this is a blog, & in this string, I see very few credible entries. Just because I like working for Lanx doesn't mean that I am a robot. I have my issues with the company, but by & large they treat me well, & they pay me very well. The company will get through this, the team there is very strong, & ethical despite what is being said here. I have walked away from jobs before, I have no problem finding work. If Lanx was as bad as it is being portrayed here, I would be long gone. I will continue to amuse myself by reading this string
ReplyDelete5:47PM, If you wrote the blog at 1:04Pm you may be more naive then your twenty years of experience let's on. Merely becaue Jeff Thramann held a Q&A everything is okay with the company? Did you ever think he was concerned of a mass walkout? OR, he remains as probably the largest individual shareholder and wanted to do whatever he could to keep the company rolling? Can you explain Lanx's TREMENDOUS turnover? It's not growing pains....That turnover was there when I was an employee four years ago...
ReplyDeleteOnly Lanx would hold a Q&A on the last day of the Quarter, no cases to cover/no revenue to record. What a joke.
ReplyDeleteThe Press Release is a Smoke Screen, Michael either left when he found out what the myriad of others before him at lower levels eventually found out, you serve at the discretion of Thramann & Fulton, or he saw the monkey business in how revenue was recorded & could not make the appropriate changes that would be needed to comply with accepted business standards.
Just another notch, albeit a pretty darn big one, in the stupidity belt that is wrapped around Lanx's waist.
The bigger question is how does LD feel about his new employer, especially considering that his dreams of bringing in real Management & Representation just went out the window.
I guess he can always call Billy Boy's sales training guru, play like it's 1990 @ US Surgical, hire a bunch of B-2-B Reps who are "real hunters", you know the kind the "eat what they kill".
My only hope is that the company founders & their butt buddies will eventually get what they have given to good & decent manager's over the last 3-4 years...lube it up boys, especially the guy that loves his HGH, your payback is coming!
Love,
One of the 35 x-managers you hosed.
2:01
ReplyDeleteYou make good points about MM's cafepharma...ish posts. Soon you will hear a long diatribe (could care less if I'm even close to the right spelling) from MM about how he never said this or that and he's just reporting the facts (and insert gay song lyric). But, in the end he can't be impartial cuz he's in the biz. People have talked on here about an agenda - it's true. He's just sitting back and loving the negativity he sparked.
In the end . . . where there's smoke, there is fire. All the venom above doesn't discount the fact there are issues at Lanx. High turnover rates do negatively impact companies. Beyond Lanx, DePuy Spine had a 66% turnover rate in sales rep just a couple of years ago . . . how has that gone for them?Personally, I have interviewed a number of Lanx sales reps in their desire to move onto greener pastures. each has only had success wih the Aspen . . . and with other devices entering that space, they aer seeing their opportunity dry up. The bitter folks above acan comment on grammar, typos, and beyond . . . but at he heart of the issue is a company lacking focus and management guidance. If the ship doesn't turn around, they will find themselves wrapped up in plateaued sales and take over rumors.
ReplyDeleteIt's a pretty safe assumption that if you're reading this blog, you've seen "The Matrix." And you may or may not remember the scene where a kid explains to Neo that the trick to bending a spoon with your mind is simply to remember that, "There is no spoon." Which one of us is living in the reality? Of course most people would rather live in a reality where everything works and there are no problems. S.S.
ReplyDeleteI currently work for Michael's old employer (before he left Lanx) and there most be something incredibly wrong with Lanx. I have nothing against Lanx or how this company has grown with Aspen. To be perfectly honest Aspen is a nice product. Aspen is not going to take them to the next level or make investors excited in the long run. If Lanx is smart they will use Trans1 as an example as to why not to go public with a niche product.
ReplyDeleteBoth parties involved look bad in this situation. Michael Demane will be fine.
Lanx is the big loser and is far worse off than they were 3 weeks ago before the announcement of MD becoming their CEO. That is a fact and the Lanx
supporters can argue all they want but be realistic.
Who the fuck cares about Lanx?
ReplyDeleteIf you consider yourself a professional of any kind, you would care about your grammer. Tenured industry professional huh? Must be an executive.
Anon 12:10 said "If you consider yourself a professional of any kind, you would care about your grammer."
ReplyDeleteIf you are pompous enough to lecture people about their grammer, perhaps you should learn how to spell "grammar." Thanks for the laugh- Every day I am reminded that human stupidity has no limits.
If you consider yourself a professional, or at least a grown-up, you wouldn't be dropping "f-bombs" all over the place. It is a sign that you are immature and probably never got your daddy's approval. If I were an executive at your company, I would have you cleaning the potties.
ReplyDeletecan we talk about some real spine companies?
ReplyDeletewhat a waste.
lanx
can anyone tell me about Allez Spine? seems like these guys have been hanging around by the skin of their teeth for years.
ReplyDeleteOk, let's talk about Synthes. There's a Harvard business case for you, in how to promote unqualified people and look forward to loss of market share. The only true innovation there is the amount of spin that takes place at the highest levels.
ReplyDeleteThe only Lanx rep I know is sleeping with her surgeon, and is the laughing stock of the hospital.
ReplyDeleteAnon 7:12... that is sooooo six blogs ago.
ReplyDeleteyeah, 7:12, you are so random. what a loser.
ReplyDeleteLanx has one product. I can't wait for them to add a bunch of "me-toos" and get ripped for it on this blog.
ReplyDeleteLets talk about sex. At least that is interesting.
What will happen to Lanx if Aspen stops getting reimbursed as a fusion?
ReplyDeleteProbably the same thing that will happen to all the PVA/PVP companies that thinik they have the best delivery system for compression fractures.
The Aspen is just a "me-too" of the x-stop. All of their products are simple and basic "me-too" designs. Where is the innovation that puts them in front of anybody? Taking market share from big players? Please, they are barely a mom and pop shop.
ReplyDeleteHow do you guys/girls feel is the best all around small spine company?
ReplyDeletement Who not How
ReplyDeleteGlobus if I had to say it. They have the portfolio now. They are one of the few companies still turning a profit as I hear it, and they are looking to get even more aggressive.
ReplyDeleteBut I'm sure the others are right on their heels.
Happy 4th of July by the way. I thank god everyday for the opportunity to live the American dream. And that is steal a bunch of shit from the company I work for now, and pass it off as my own, and steal away business with $$$.
Wait, this isn't cafepharma?
ReplyDeleteThis seems like a Medtronic bitching site. All the implant companies are struggling, take a look around. You can't sell a $150 screw for $1500 without it eventually coming back to bite you in the ass. Your time is coming.
ReplyDeleteThis whole CEO declining the offer seems fishy...maybe DeMane's hiring sent a clear signal that Lanx was prepping to go public. Some larger company probably had its eye on Lanx and this spurred them to make an offer. DeMane wouldn't stay on board of a company that was about to be purchased, so he steps down???
ReplyDeleteTo 4:20- Phygen Spine, aka Allez Spine, name changed to connote “PHYsician GENerated”. Sounds like a restaurant who had low volume then changed their name to hype it up, or to just pull the old swith-a-roo(not bad).
ReplyDeleteI heard that Lanx is or about to fire their two bigest distributors. Has anyone else heard the same.
ReplyDeleteWas it really a non-compete that kept DeMane from steering the ship? To our recollection, MD had long left MSD and was supposedly working with Spine Wave for a while. If so, there goes the non-compete scenario.
ReplyDeleteWas just called today about a position with Lanx. Was told they are going direct and all distributors eventually will go.
ReplyDeletePS- I passed on the position.
It is true. Lanx just terminated their top two distributors. Rumor is TB tried to hire some of the distributor reps as directs. Apparently he had either flown into town or flown the distributor reps out to Denver while they were employed by the distributor and offered them jobs as directs. I guess this happened last year to their #1 distributor who I believe was down in Florida and the distributor in Philly who had the #1 Aspen user in the country.
ReplyDeleteThe message is clear. Don't make too much money or Lanx will terminate you. Great business plan. No question Lanx will be a top spine company soon. Who wouldn't want to represent a company like that.
This is what happens when investment banks and PE's become influential in medical device company strategic planning based on their equity and board presence. The industry is no longer patient centric its all about short term gains. It is true that LANX no thanx has had a history of cutting its managers and distributors at the knees when they start to make a certain amount of money.
ReplyDelete6:19, absolutely Lanx has that history.
ReplyDeleteCall up their old RM in the Northeast & ask him how he was treated. Only guy to make his number last year & the quarter they decided to go in another direction from him...oh & good luck collecting those commissions. Ya know the old saying "possession is 9/10 of the law", that's the most profibable area of business for Lanx, screw you out of your commissions!
They are a joke, they will never get there, never, ever.
I am guessing all of LD's plans have blown up in his face, what right thinking Medtronic Spine Manager or Rep would consider going here. The only thing that is guaranteed is that you & Lance will be together looking for a new job in less than 18 months!!
I'm hearing that lawsuits will be flying due to some of the recent actions by Lanx and Lanx management. When the best that you have is a putz like Lance Denardine running the show, that does not ooze confidence of a company moving forward. I bet that we hear more bad things coming out about Lanx in the very near future. The company is sinking fast and either has a plan in place for that o is just run by a bunch of boobs??? My money is on the BOOBS!
ReplyDeleteLanx is a joke. Had a recruiter call me about a RSD position, and as hard as he tried, even he couldn't put lipstick on this pig.
ReplyDeleteAnyone know of any other competitors in this Spinous Process fusion market? Spire, Nuvasive's clamp, ASPEN,.....any others out there?
ReplyDeleteHow does a company like PhyGen aka Allez spine think they could ever succeed after witnessing this hot mess? Heard Phygen is calling three core me too products their own manufacturered and then distributing 10-12 other well known small spine companies??>>!! Another hot mess!
ReplyDeleteI know the direct reps aren't panning out as well as hoped by Lanx management. Before long those reps will leave the company too or be canned. They just put the 2 NY reps on notice because even though they were seasoned spine reps when they moved over to Lanx, they couldn't get anything going with those products.
ReplyDeleteHere is the latest news from LANX.... It's OVER! LANX has lost all momentum in the past 8 months. I have several years experience in spine and have never seen a company shut down like LANX. One year ago this was a good company with hard working internal employees and good outside sales people (direct and distributor based). Today it is a shell of the company it once was. Too many good people have left or have been fired. This company has ZERO leadership. Michael Demane leaving after only two weeks signaled the end. Reputation is everything and LANX has stepped across the line into the abyss. Too many people know that the management can not be trusted. Too many people know this company is in financial trouble and needs more cash to keep going. I predict 6-12 months of life for LANX. RIP
ReplyDeleteLANX needs a moral and ethical compass
ReplyDeleteIf you are thinking of working here, think twice
Lanx must be truly deperate at this point.
ReplyDeleteThey apparently have taken on a sales team of two in the DC/MD area (Spartan Medical) that has failed miserably for the last 3 years since leaving Medtronic.
Lanx hired Spartan Medical to grow market share in this area.
Led by Vince Profit Spartan Med failed to take down new business for three Consecutive years while repping for Globus.
Now they are throwing a Hail Mary to give it a third try with 80% less products in the bag.
Some things never change.
The spinal sales community must be shaking In their boots.
I predict continued failure for Spartan Med and Lanx.
One post on here hinted at it but to be clear regarding DeMane so called declining the position. He did accept and was even in-office for about 2-weeks when he jumped (sinking) ship. Two months later they then do a round of lay-offs; writing is on the wall!!Lanx has zero leadership and those in the executive level positions simply can not be trusted.
ReplyDeleteI was a distributor for LANX for a few years. LANX has always lacked leadership on the sales team. The company itself, engineering, marketing, and support staff are very professional and good at what they do. LD has his work cut out for him to convince anyone to join LANX. LANX has screwed so many industry professionals that NO ONE with any knowledge of the industry would take a sales position. BEWARE this company would screw its mother! MD was smart to jump as quick as he did...smart guy !!
ReplyDeleteLanx now recently received a warning letter from the FDA. I am sure there are more warning letters to come this year. The management team is a hodge-podge of Jokers. Their sales were a joke last year and will be a joke this year. The Aspen is old news. Get out your forks because this turkey is done.
ReplyDeleteNow that Dan Gladney and his Minneapolis cronies have their hooks in, this company has 2 years max before the fire sale begins. Sales are in the toilet, yet the company shuttles these 6 figure clowns back and forth, and put them up in top rate hotels while the rest of the company is told that their budgets are being cut. And what is Paul Hickey doing having lunches with so called " Dr. " Fulton who was booted out by the board for unethical behavior? Getting tips on how not to get caught like he did?? Everyone who is smart in that company is either out or looking. What a shame....once again greed coupled with incompetence will destroy a company, and the regular people will suffer while the pigs at the trough get even fatter
ReplyDeleteHi am 30 and just had a laminotomy with a aspen infusion and after reading all these posts you all have me terrified!!! I pray the device is better than the company! Any thoughts, advice?
ReplyDeleteAnonymous jan 3rd, I am a lanx employee (soon to be an ex-lanx employee). I am not a fan of this company (and am leaving because of my hatred for the way the employees of certain departments are treated and discriminated against) but I want to assure you that the only reason a business with the lack of leadership lanx has has made it this far is because of how well the aspen works. Its truly a genius device.
ReplyDelete