Dirk Kuyper, ATEC's President and CEO performed an Aztec Two-Step when he informed analysts' that the company was please with its long-term business prospects, its growth rate was well below what was expected. The obvious excuse was pricing pressure, yet, the new whipping boy has become the FDA which Kuyper asserts makes the timing of market releases of key technologies uncertain. Lastly, Kuyper spoke of the complexities of integrating Scient'x into the company's operations.
It seems KSF believes that allegedly there must be some improprieties and insider trading going on at the director level at ATEC based on the cashing out party that has been taking place. Nation, what do you think? Could this be the start of something beautiful? Or, is this an all to do about nothing? You know what Cary Grant once said; "and there I suddenly found my articulate self in a dazzling land of smiling, jostling people wearing and not wearing all sorts of costumes and doing all sorts of clever things. And that's when I knew! What other life could there be but that of an actor." Yes, Nation, there are a few nefarious actors, let's see where this goes.
why all this doomsday stuff??? my company just hired another 24 yr old to be a spine rep to sell to 55 year old surgeons... nevermind, it is over.
ReplyDeleteWhen ATEC gave 2010 revenue guidance at 200-225 million earlier this year, it seemed like a fantasy. Now we know that it was.
ReplyDeleteThe question is now whether ATEC management was just plain wrong, or whether there was pressure on managment to keep the share price up, particularly during the Scient'x acquisition and the recent $5.00 public offering.
Either way, Dirk and company may wind up taking a big fall on this.
There's trouble in paradise, the story don't sound too nice, and you just can't sleep at night, in a solid gold room, Well there's trouble in paradise, you never turn out those lights,and you just can't close your eyes, in a solid gold room. -JD Souther
ReplyDeleteDidn't see any breaking news on Healthpoint Capitals website. I guess Lauren Uzdienski must be on assignment in the Korengal Valley in Afghanistan.
Dirk and Lube 10 second elevator talk:
ReplyDeleteAre you an assassin?
I'm a soldier.
You're neither. You're an errand boy, sent by grocery clerks, to collect a bill. -Apocalypse Now
Did Tony and Vito end up in Orange??-Cbar
You guys/gals are what we called arm chair warriors in the military. You watched a few movies and read a couple of books and that makes you the experts of the field! Then you go out to represent yourselves as the cream of the crop in intelligence and substance for the whole market. You guys then banter back and forth like a group of so called arm chair warriors at a Mercenary convention... spreading your bullshit stories as if you were the first person in them. Go get a life! If you knew the truth about Alphatec and many of the other spine companies you have bludgeoned to death here with your negative unseasoned opinions; you would know that they all have positive aspects. The bottom line is that many factors not just one or two affect the whole company. The FDA is dragging their feet in this Obama Care period we are all suffering through. Capitation of pricing is killing the bottom-line also. Uneducated and undisciplined sales forces are costing the companies millions. While it seems the incomes of the insurance providers (executives) and Hospital (executives) incomes climb at about the same rate as the market decline. Why isn't that interesting? Anyone bothered to study that aspect of the equation? Then you have the Surgeon who now wants to not practice medicine and care for patients, but to somehow get the incomes of the reps paid to them in any of a million scenarios.
ReplyDeleteInstead of just discussing the negatives, how about getting some real life answers and let's fix the broken market. It seems like we have done this to ourselves, because no one knows how to sell any more.
In order to get someone's business that did know how to sell, you had to revert to paying under the table to clients or just drop your pants in pricing. I have watched it for 35 years. If I can make a suggestion to all the winers out there, don't put all your eggs in one basket. If you can't earn the business then invest in the competitor's stock that has the business. Then you might win anyway. Just a thought.......
This comment has been removed by a blog administrator.
ReplyDeleteYou guys are complete dumbasses.
ReplyDeleteATEC has no share in my territory nor will they ever. What do they have that is so great?
I would like to know from the seasoned veterans if this is the first time you've heard that the indstry is going down or if this happens every couple of years?
This is the end.
The Doors
curious about globus and their ipo. I'm sure they are pissed watching all the spine cos. having revenue shortfalls and even the one that didn't( nuvasive )has had a significant drop in market cap. the whole industry is taking a big haircut, not good for the ipo that was supposed to be over 2 years ago. will they ever go public or sellout two years too late. lots of folks are dying to get their money out of this one. i wouldn't touch the ipo if it ever does happen.
ReplyDeleteLet's face it it looks very likely that ATEC exec's snookered their investors. They are somewhat talentless and can only make money by taking advantage of others. How can they have the nuts to cash in on nearly $230 mil all in one day (http://moneycentral.msn.com/investor/invsub/insider/trans.asp?Symbol=ATEC). The company only did $150 mil in sales the last 12 months and now their market cap is $218 mil. They robbed their investors. Their middle management is equally deceitful and lazy. I won't mention names so instead let's call them some fictional character named Herman Munster and Joe Bag Of Donuts. these two empty paychecks are running around trying to steal business instead of earning it. In fact quoting Joe Bag of Donuts, and I heard this with my own ears but not directed to me, " We are not interested in grass roots growing of our business. Can you flip us $5 mil of your current business?". This is ATEC's hard working middle management. Not only that, the are running around stealing reps from other companies (ie, Zimmer) who have non-competes and are exposing the stockholders with the unnecessary expenses having to defend lawsuits that should never have happened if these people weren't so greedy and lazy and were just willing to go to work. So the ridiculous comments above either you are one of the disrespectful lazy clowns at ATEC giving excuses or if you are defending ATEC and aren't part of their lazy team I don't get it, other than you don't get it. Because these guys are the C and D players at best. It is a shame at the lack of ethics, morals and work ethic in this industry. Peace
ReplyDeleteDude: most MedTech VC's failed to make any profits in the last decade? You must be shitting me. That's why they keep pumping more money into newer and hopefully more innovative technologies. How about the V Bros, who do you think they were when they sold Pro Disc, how about the Vertical Group with Kyphon and Spine Core? Whom do you think funded these companies and reaped the return on investment? i guess you haven't read the most recent Ortho Spine News where over $215 million has been invested in this industry. You sound like someone that just doesn't like someone telling you the truth. Hey, its a crap shoot. If you want to sit at the table you have to be willing the place your bets. After 35 years in this business you sound like the has been.
ReplyDeleteWhere is this Joe Bag of Donuts you speak of?
ReplyDeleteAnonymous 3:32:
ReplyDeleteIt's a blog, if you don't like what's reported, don't read it. Believe me, my feelings won't be hurt.
Well said to the posters! Bag of donuts(BOD) had a hard time with others opinions and the truth. Industry knows why he has a job and he should do himself a favor and put down the scotch! Defending yourself in a public forum only hurts the person that keeps you employed. This is a blog. A place for those that wish to read and opine to do so. BOD - Like the scotch this blog you just cant put down can you...Try on some orange soon...
ReplyDeleteThe Garden State??
ReplyDeleteIf this keeps up he'll be swimming with the fishes, or Big Pussy.
ReplyDeleteAfter 35 years in the business and the diry behind and between your ears it sounds that you were a never was, especially if you are still doing this and and defending the rats. The truth will be in the wash since their is an investigation. I'm not sure the V Bros are a good model to quote although they did well on the Pro Disc, since then not so sure they or some of them are model citizens with other peoples money. Spine Core and the Pro Disc were not publically traded and stockholders didn't take a beaten while the exec's cashed in and everyone else takes a beaten? Kyphon was a good deal for everyone. So out of the 3 companies you mentioned nobody was investigated so I'm not sure where you are coming from. I guess you mean the crap shoot is if you get ripped off or not. It sounds to me that with your 35 years of tenure, and by the way Congratulation because I'm real proud of you, you are probably showing some signs of dementia due to your trips to Woodstock. Which is too bad. Be well my friend.
ReplyDelete5:51 post was directed to 5:10 post
ReplyDeleteI came upon a child of God, he was walking along the road and I asked him, where are you going" and this he told me. I'm going down to Yasgur's Farm gonna join in a rock n' roll band, I'm gonna camp out on the land and set my soul free. By the way there was only one trip, if you took multiple trips you never left
ReplyDeletetaking anonymous shots at lube is the most cowardly thing I have seen in a long time. A man says something directly to another mans face, or keeps it to himself. This generation is a disgrace to our fathers, the men today have become pussified.....
ReplyDeleteYeah and I'm sure big bad lube hasn't said things behind others backs. Does a grown man go by the name of lube? Give me a break. Matter of fact talking about pussified, I like the way you write anonymously.
ReplyDeleteI was not taking a personal shot at someone, or else I would have signed on.... Okey Dokey mr 6:23 anonymous ... Post your name brave one....
ReplyDeletewho took an anonymous shot at the stuff i put on my finger when giving a proc exam? I dont get this blog...
ReplyDeleteAt 3:32, I made general comments about this blog and its keeper, but my comments were not directly related to Alphatec. I could care less about Alphatec and all of thier shenanigans.
ReplyDeletedoes alphatec sell alphabet soup?
ReplyDeleteI did not hear that ATEC was stealing reps. Who from Zimmer did they steal?
ReplyDeleteHey Billy STFU
ReplyDeleteA few Zimmer guys in MN just actually went over to atec. Just some fleas jumping off the zimmer corpse.
ReplyDeleteHerman, Bag of donuts, and the Little Dumpling of the west(Texas. What a motley crue... led by the most socially ackward "CEO" of all time... not to mention cheap.
ReplyDeletePS- BOD, change your gay 'A. Bocelli' ring tone. It's embarassing.
how does berkowitz and foster have $55 million each? or is that the fund with their name on it? dont tell me as board of directors they each have $55 million worth of shares.
ReplyDeleteAnd much much more. Check out this link and click on their names. http://moneycentral.msn.com/investor/invsub/insider/trans.asp?Symbol=ATEC
ReplyDeleteMy name is Stephen Kenley and I am a regional sales manager with Alphatec Spine going into my fifth year with the company. I am a Biomechanical engineer and have been in the industry for almost 19 years now and have enjoyed great success so I have a pretty good idea of our industry as well as the negatives and positives associated with manufacturing groups. I do not profess to understand the complex factors involved in stock performance but I know what makes a sales professional successful and respected and I can tell you that individuals Like Steve Lubischer, Bill DelRusso and Dirk Kyper are precisely that!. I am not a company man and not a corporate apologist and at times have been at odds with individuals over scientific necessity when discussing certain products but I can also tell you that I have never seen a more qualified or dedicated management team in all of my career. These individuals that have been maligned in some of the comments on this page work tirelessly and have the respect of the entire organization as well as all of my physicians and certainly deserve better then to take a bunch of mean spirited shots from cowards who prefer to remain anonymous. I would suggest that if you have a negative comment to make about these individuals as leaders then perhaps your credibility would have more relevance if you did not make them anonymously. Perhaps since you obviously know them and have some misgivings toward them the thing to do would be to call them and talk to them face to face before you make a negative assertion about there honor or professionalism anonymously like a coward.
ReplyDeletestephen, do you get a reach around from lube? You don't generate new business you write CONsulting Agreements. How well did Lub take care of all of his Distributors at interpore cross? Go eat your elmers glue you paste eater.
ReplyDeleteWhat is the story with biotch jackson anyway, is he worse than BOD?
I am not sure that integrity revolves around delivering checks to a surgeons house on a Sunday night in Florida because the surgeon demanded it. I am not saying that happened just making a statement.
ReplyDeleteSteve I appreciate you trying to rally and stay on the good side of the boys because earning a check is difficult. You need to read comment August 10, 2010 4:52 PM because I didn't make that up and your boys are not working tirelessly they are only interested in shortcuts. If BOD was interested in working tirelessly he would be interested in growing the business from grass roots because that is the only true way to earn and keep your business instead of it being here one day and gone the next.
ReplyDeleteSteve,
ReplyDeleteYour a joke. I was a distributor for Alphatec for a very short time. I dropped them and not the other way around because Bill Delrusso was offering consultancies before I could get the introductions out of the way! You have accomplished something if you can make a crooked ass spine surgeon uncomfortable! Dirk Kyper was the CEO of Aesculap Ortho USA before going to Alphatec, a ten million dollar division of BBraun which is about like me going from my distributorship to CEO. Professional, that makes me laugh. Durr has the personality of a statue without as much leadership.
SK,
ReplyDeleteYou are a shameless ass kisser. wow.
Won't work if they are ran out of their jobs.
anyhow...
While most post are spot on... who has time for BS from attorneys; hence, why anon...
Anyhow, stop your bitchn and ass kissing... look at all the comments: "Survey Says"---
Maybe your execs should think about how they treat people and conduct themselves. Obviously, a lot of people DO NOT respect them.
Herman: This name says it all...
BOD: Another reason to post anon as BoD will likely have his goons 'off' you.
And the Little Dumpling of the west- please, just go back to being a secretary for a distributorship.(true)
Dirt: cheap, weird and apparently 'misLEADING' the public.
Young Guns: "Reap the wind you..."
Mr 7:29 you claim lawyers are your reason for anon posting? Evryone here knows you use the blogger site to bad-mouth others behind their backs. Call your wife in and show her how you type your attacks like a sissy. Too bad you inherited you cowardly fathers genes. Borrow a tampon from the wife, anyone who uses a public board to anonymously disparage others is a coward, raised by a coward. your momma must have slapped your daddy around. and yes, i post anon, but i am not namimg others and attacking others. Loser, go fold the laundry now, before your wife slaps you around
ReplyDeleteThis is too funny.
ReplyDeleteTweedledum and Tweedledee. This was not a sales team.
Billy you should take the suggestion and put down the scotch. Stop ranting on in public.
You should spend more time on cleaning the PEEK inserters before someone gets sick.
James Cronin
http://en.wikipedia.org/wiki/File:Matt_Lucas_Tweedledee_Tweedledum.jpg
ReplyDeletelol @ 7:31
ReplyDeleteHowever that looks much more like the guy from Texas. "Little Dumpling"
coming back
ReplyDeletehttp://finance.yahoo.com/q?s=atec
Thats too funny anon701. so true
ReplyDeleteWOW... You all need to grow up..
ReplyDeleteI have worked with and know most of you. STOP..
To all the people on this blog I wish to introduce myself. My name is Bill Del Russo and I wish to clear something up. This is my very first response to this Blog and it will also be my last regardless of whatever mud gets slung my way which I am certain by the caliber of some of the people on this Blog will be sure to follow.
ReplyDeleteI am certain I know who these people are saying these terrible things.Some are former employees of our company.I would have hoped that one would have had more class and dignity since he was a member of our military in a very elite division but I was wrong. I was alerted to the blogs a couple of weeks ago and have read it and actually been amused by the content. To the people who have responded and answered in my defense I truly appreciate it. It is nice that there are still decent people in our industry who will stand up for what is not right especially when people are engaging in character attacks that are completely untrue. My reputation over the past 13 years has been one of hard work and impeccable honesty and I challenge anyone to say that isn’t true and then back it up with facts. We have built Alphatec the exact same way EVERY company has built their organizations. Some may feel that since the early pioneers did it all by grass roots that this is the way we should do it. The fact is that unless you are bringing a new technology to the market place it is suicide to try and recreate the wheel. Some on this blog feel bringing established distributors over is not right so I must question their business acumen. My guess is that their disdain for Alphatec stems from the fact we probably have taken business from some of you and you are not happy about it. I further suggest you look at the disclosure books that are disseminated at NASS, the AAOS, CNS, etc. and see who has the most surgeons affiliated with their company. I assure you it will not be Alphatec. I would even go as far to say that we wouldn’t even be in the top ten! Since many of you seem to know so much about me then I would say have the courage of your convictions to come up to me at the next meeting and tell me to my face the things you so spinelessly say on this blog. At least have the courage of your convictions. I know who I am and have lived my life on my terms. I have helped many, many people in our industry and have grown markets through hard work and sweat equity. I am one member of a team that has taken this company from obscurity to where we stand in sales now. I am certain the allegations will be proven false against our organization because I know the character of the people I am associated with. I also know the character of the people casting aspersions against me and my sales team. For the record; we were one of only three companies that actually grew in spine last quarter! Well, enjoy the feeding frenzy folks that I assure you will follow this post. Spine Blogger, thanks for giving me a forum to respond.
your funny
ReplyDeletebut looks arnt everything
ReplyDeleteWhen you throw a rock into a pack of dogs, the one that yelps is the one that got hit. Hummm...can someone say defensive?
ReplyDeleteIn my 11-years of dealing with ATEC, I have seen 11-buyers, 7-directors, 27-engineers ALL from operations, engineering and purchasing leave the company. It's a rotating door - very unstable company. They still owe us and other suppliers $$$ - most stemming back to 2009. Whenever we introduced a new product, they always looked for a way to "copy" it knowing that we are a small(er) company and we don't have the resources to fight them. Not fun to deal with - never have been, never will.
ReplyDeleteFolks, this is a late comment on a topic that's getting old. But, taking pot shots at ATEC, while it can be justified I suppose, it is a bit lame as well. What company is squeaky clean these days. Who isn't working to get consultants to gain business. Who isn't paying royalties to surgeons who have not made a concerted contribution to IP. Not saying it's right (I'm a grass roots guy, build a business on good stuff taking care of surgeons and patients), but is does seem to be the way of the world. If you have been at this game long enough, it will happen to you. So please keep that in mind before lambasting someone for doing business using legal methods, because if you look around your own company you will likely find a roach or two under the blanket.
ReplyDeleteI'm no fan of Bill, or Lube or Dirk. And, I don't like the way they do business, or at least what I have seen in the recent past. But, I also know many of the players at Alphatec, and like all companies, there are good and bad. I have had the good fortune to work with some very good ones in the Alphatec Sales Organization. And some really bad ones. Who hasn't in their own company.
This is a forum to express opinions, and that's a good thing. We need a place to voice, clear our thoughts, here what others have to say. It's a shame Bill is moving away, he could learn something. Take the good for what it is, considering the number of negative comments maybe he should think about it a bit. There have been some of me in this forum, and yes, I did hear, and did learn and did benefit from it.
Alphatec folks, whether true or implied, wake up. Perception can and does become reality to most. If it is perceived your act is raged, it's probably time to work on it. Like the perception and reputation you are gaining by not only working with PODs, but promoting it. Do any of us need this, is it to your advantage long term? I, and most everyone I know who has analyzed POD business from about every angle there is cannot find a long term benefit. What are you going to do when some other ankle biter, like a number of the cheap over seas 510K dump companies makes a better deal?
Alphatec does often lead with consultative arrangements. Many companies do, but not the bigger ones, or at least they are more discreet. Alphatec does have some good stuff. Don't waist it on a bad reputation.
another idiot! shut your mouth
ReplyDeleteALL Spine companies have consulting agreements and ALL of them continue to try and make them look less like tit-for-tat deals. Medtronic has more deals than any company and pays MD's more money than all of the rest of the consulting deals combined. I worked with MSB for 5 years at a Senior Director level- I can tell you first hand there are no clean companies out there so focus on innovation and making products that help patients and Md's do the job FASTER. We all see this- Spine hardware prices are falling fast, procedure volumes are falling due to insurance companies crushing providors, md's and patients. this can only lead to consolidation in the market and the better products survive. Furthermore companies need to find ways to INCREASE their value to the MD- outside of the product they push- without paying for it. There are a few out there trying to do this and they will be among the list of survivors. Companies like ATEC, Sea Spine, Eden Spine, LANX and others will go away.
ReplyDeleteAlphatec = PODS
ReplyDeleteEveryone knows this!
Hi.. Just happened to come across this post. I am a chef and pastry chef... I you have a opinion why is everyone Anonymous. Atleast if you make a statement put your name to it.
ReplyDelete