Sunday, January 1, 2012

Breaking Up Is Hard to Do!

On December 30, 2011, David Sell of the Philadelphia Inquirer reported that Synthes had fired the first salvo in an attempt to make a statement regarding non-competes and corporate raiding against three former Synthes employees, and the Almighty Stryker.  The three former California employees are accused of allegedly breaching their confidentiality agreements and violating patents.  As to what this confidentiality and  these patent violations pertain to leaves much to the imagination.  If the accused are AO/ASIF consultants what could they possibly know?  The confusion surrounding this story is that Stryker hired them to sell nails, screws and plates to fix broken bones and then goes on to state that it is mostly related to spinal ailments.

Synthes charges that Michael Russell allegedly used Synthes medical devices to complete a surgery on behalf of Stryker.  If the device in question was an implant, and for those of us in the industry, when the terminology device is used, it usually means an implant, why would Synthes care?  The last time TSB noticed, no one was billing for instruments per se in a surgery, therefore, what's the big deal? Unfortunately, there was no comment from Synthes attorney Anthony Haller, incredible that the old Wyss meister still has his trusty relic Tony at his side.

So TSB has to ask our readers, is this a case whereby Synthes is attempting to enforce a non-compete and are utilizing the typical legal tactic of piling on accusations in the hope of intimidating these former employees from pursuing their right to work?  Isn't this the United States, or will we be mandated to acquire a work visa to be employed in this industry?  TSB has not met too many salespeople that had, or were privy to confidential information, let alone violating patents.  The truth is that companies in this industry are so desperate to preserve market share and revenue that they enforce these ridiculous non-competes.  If your products are good, why worry.  If your surgeons are loyal customers, why worry?  But then again, when your product portfolio no longer has the technological advancements that you were once known for, isn't it time for litigation and threats. And then there's Stryker.  Back in the late 80's and early 90's Stryker become known for these shenanigans and old habits die hard.  So you know what Neil Sedaka once sang in early 60's;

Don't take your implant business away from me
Don't you leave Orsinger in misery
If you go, then Synthes will be blue
'Cause breaking up is hard to do

Remember when you held me tight
You covered those IM nailing cases thru the night
Think of all that we've been thru
"Cause breaking up is hard to do

90 comments:

  1. Personally, I don't think that Stryker receives enough criticism on this board compared to some of the other companies that constantly take a beating.

    At least in my neck of the woods (Hook 'em Horns!!), Stryker has "earned" its market share by taking surgeons on sham "consulting" trips to places like the Big Easy, hiring one very busy neurosurgeon's live-in gf as a rep in exchange for a huge chunk of his biz, and some very shady dealings involving its Navigation system. Additionally, the reps (all of which are DIRECT employees for Stryker) secretly sell competitive products for other companies to make some extra cash on the side (Stalif, Coflex, etc...). I wonder if the manager in charge of this group simply turns a blind eye to this type of behavior, or if he truly has no idea that it is going on.

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  2. Yes Stryker likes to hire sales reps with relationships relatives of docs or PA's wives or husbands. Can't buy me Love unless your Stryker. Yes reps are always selling something non Stryker on the side.

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  3. As to the Synthes scenario, you mentioned it was California reps. Legally, non-competes do not hold water in California. That is one state where the law is heavily biased to employees. It sounds like a good scare tactic on Synthes' part. They want to make a national statement. If those reps get a good attorney, Synthe can't touch them. The law is supposed to be abided by the state that Headquarters are located in. HOWEVER, the law more conservative dominates if the states' laws differ or if Federal vs state differ.

    Get an attorney that knows their $h!t, be informed, and do not be intimidated! Additionally, everyone has a legal right to make a living (federal labor law).

    Now go make so money!

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  4. Is Haller the guy who completely blew Synthes' case against Globus, which instead of a measly 13 MM pay should have put Globus out of business?

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  5. I happen to agree on the Stryker post. Out of the 7 Surgeons that use their products in the medium sized metropolitan area in which I work:
    2 Surgeons are on some sham "Board of Advisers" for the distributor and the sham start up spine company they are working with.
    2 Surgeons are "Trauma" consultants
    1 Surgeon was just offered a training deal to teach their Sales Representatives on the VCF device.
    2 Surgeons do not appear to have any deals, at least in plain sight.

    I am not sure if this is the norm for Stryker throughout the US, but they are definitely the company with the most pay to play deals in my area.

    Medtronic= Fellowship Sponsor, 3+ at fellowship sponsored University as Paid Consultants/Design Team Surgeons
    DePuy= Two general consultants. Gaining business by undercutting pricing at universities. Not so interested in cutting pricing at county hospitals
    Synthes= Non-existent consulting agreements, most Synthes consultants have moved on to "greener" pastures.
    NuVasive= One Proctor Surgeon and One Design Team Surgeon
    Globus= Three Design Team Surgeons, Four Surgeons who are "Investors" in Globus Stock. Offered as the distributor was moving from Synthes
    K2M= One general consultant

    A Few other start up companies that are running around offering deals and seeing what sticks: LDR/AlphaTech/Spine Art/Lanx/CoreLink

    Crazy Industry we are in. We have commoditized our goods and now are operating in a apathetic environment, a screw is a screw and a plate is a plate. I will be interested to see what new innovation these companies come up with. Unfortunately the Surgeons are taking themselves out of the game until a point comes where the hopsitals and insurers have squeezed our pricing to the point of breaking (pretty close) and start looking at the Surgeons salaries as the next way to save a few dollars (that's coming!).

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  6. 7:06 you really think Stryker is a pay to play company? Are you for real? i agree they do fly under the radar quite a bit, and probably should get more abuse then they do on this site, but pay to play? i disagree. I'm sure there are a few guys with agreements, and some girlfriends of surgeons as reps, but no more then your Globus's,Nuvasive's, and Lanx's of the world.

    If you wanna pick on Stryker it should be for there inability to develop new products, and for them to stop referring to themselves as a top tier spine company and are the last to market with every emerging technology.

    Cervical Standalone( still no lumbar)
    Lateral
    synthetic (orthovita)
    secondary locking cervical plate (really?)
    tapered rod( not sure if its out yet still)
    midline OC plate

    People at Stryker manage careers not a spine company. Starting from the VP (who is a clown) and the rest of the "upper management" bunch of empty suits in NJ. They will never go away, but they will never be number one. That company is only as good as the reps/distributors who work for them. i.e- Good rep your safe, bad rep find a new company cause your not getting help from them. All and all a safe company, not an evolving company(in spine). Overall Medical they are one of the best thats why people believe in them. Sorta like if Apple made appliances. you'd buy them right? can't possibly not be good. (not comparing the two companies by the way, just an example)

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  7. 10:30- Stryker tried to solve all of there technology issues by purchasing Globus. unfortunately that company was to dirty!

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  8. The Sunshine act will shed light on who is getting paid and by what companies. Until then you are all just bitching.

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  9. 7:06

    Are you in Saint Louis? Sounds a lot like my market.

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  10. Sunshine Act= Less credit cards and more cash...

    In the words of the great Dezel Washington.

    "Its not what you know, its what you can prove"................Training Day

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  11. Amen to 11:49!

    Noone knows anything, as long as you never tell anyone!

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  12. 11:49am must be a Stryker rep and 12:10pm must be a Globus rep. Can you imagine how much fun these guys are going to have high-fiving each other and talking about how much they used to bench-press in high school when they are cell-mates in prison? I think we all know who--out of the two--will be the "taker" and who will be the "giver", if you know what I mean.

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  13. I'm amazed at how the cultures within different cities vary so much. I rarely ran into consulting deals, PODS, royalties, etc..throughout Georgia and parts of Tennessee. Then I went to Nashville and Chattanooga. My goodness, I am not exgaterating when I tell you virtually every surgeon in Chattanooga, whether they be high volume or not, has some sort of deal. Out of roughly 14 surgeons I found 4 PODS, 4 Medtronic consultans and at least 1 globus. What gives there.
    So far, in Nshville, not a single doc out of 6 didn't have a side deal.
    In Knoxville, just a few hours away from both cities, I haven't run into a single one of these deals.
    How am I supposed to compete with this? I have solid products and I have excelled at past sales jobs. Is anyone else experiencing these "closed" markets? Will management be understanding of these variales when setting quotas? Help!!!
    signed,

    Starving straight Commission Guy

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  14. @1:35 either jump in the mud and start slinging with the pigs (compete with the consultant driven Sales Representatives) or find the few Surgeons that don't play those games. I can guarantee that in most cases your company knows how the geography is playing and doesn't care what your quota is, go sell! I would like to say the best sales representative win (experience/OR etiquette/Technique knowledge/Likable/Go Getter), but that is often not the case.

    The consensus among the few sales guys that I know across the area is: The days of the 300k+ Sales Representative is gone (unless you use consultants) or you are that strong in your 10+ year relationships. It's going to be more and more 75-100k 1099 Sales Representatives. At some point it will not make sense for a guy to get 75-120k 1099 (pay insurance/pay gas/pay parking/pay for office supplies/travel/rep training/rep credentialing etc.) Add that to the fact that your must operate in a hostile environment (hospital staffs vary on how much they appreciate your position), OR Blood Born Pathogens, A ton of XRAY (if you do MIS) and the accountability if anything goes wrong in that room (rather it is a breakdown in instrumentation or not).

    p.s. How is Nashville. Is our favorite competitive Hot Dog eater still consulting for the boys from Philly?

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  15. Stryker "Pay for Play"........Anyone remember the Hewes brothers?! End of story.

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  16. I've been selling in TN, GA,AL for 10+ yrs....you ain't seen nuthin yet. We're the hot bed for POD's and now the anti-POD's (one Dr. called them). it will be a gunslinger with a few good sham stories and vavoom what happens here will spread the states. Keep workin' it!

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  17. Hewes ( Aka the Flying Karamazov Brothers ), the dynamic duo, the real slim shady are they runnIng a car dealership yet, two guys that could F up a wet dream. Young girls, thin curls, big boobs

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  18. Stryker just won their judgement against the Hewes brothers for about 4 million. Should be enough to put them out of business.

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  19. Who are the Hewes brothers?

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  20. 3:12 "Pay to Play".....go learn it from the Goodman Brothers out West (also Stryker...and also Dr. Maker of WSJ fame). They make an Art of "Pay to Play" with a horse whip on their surgeon partners.

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  21. Very true about the Goodman Bros. The private jet whisking docs and cute nurses to see a play in NY. Yes, you have to be "All In" in the Pay to Play world of Stryker when the Goodmans's are the distributors. A deal with the devils. James Makker one of the recent whores for these pimps.

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  22. "10:30- Stryker tried to solve all of there technology issues by purchasing Globus. unfortunately that company was to dirty!"

    Posts like these illustrate the intelligence, or lack thereof, of too many in the spine sales industry. There technology, to dirty?

    Those of you that know how to diversify your portfolio/sales experience like that person knows how to spell will find yourself selling used cars when spine takes a big dump on itself. Which it certainly will. Because you all damn-well know, the industry charges laughably high prices for implants. But not for much longer...

    Diversify or...

    Yer gonna die!

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  23. Stryker is a great place to be FROM. Sucks while you're there though. Instruments look like they're made by Chinese prison labor and always last to market.

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  24. I have met with 30 companies since leaving synthes. The only one that impressed me was xspine. VP seems to be a good guy, a family man, excellent products, and seem to not have unethical business models like the rest of you d-bags.

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  25. Lol!! 7:31am, you crack me up! Do you honestly think that little plug will help you and your poquita company?

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  26. I know the Hewes boys...what did they supposedly do?

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  27. 11:49 - or was it Tom Cruise in A Few Good Men:

    "It doesn't matter what I believe. It only matters what I can prove!"

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  28. Poquita please. I am 90% sure I just did a case with you doctor he loved the plate. We are growing unlike your failed sales model. We have the best sales team in the industry, best products, and your one doctor now. Get a life or I will take your wife

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  29. 9:25, stop it. As if your poem on a previous post wasn't bad enough. You are a douche of the highest order.

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  30. For those who LOVE what we do, check out this video clip:

    http://www.youtube.com/watch?v=cVLAvix-dX0&feature=related

    Sound familiar?

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  31. Interesting comment about the Goodman's, funny that after being the dominant player out in the NW for twenty years that is the best someone can say besides giving credit for running a great business. Nice comment on the Makker situation, funny that he stopped using the "Goodman's" because they wouldn't pay him and went with a company that would. Re-read the WSJ article....

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  32. Perhaps Synthes should save the $ they keep paying Haller and give it to the families of the five people they killed during the Norian debacle. And the families of the execs Synthes sent to the slammer for doing what they were told. Not saying it was right - but they aren't all evil - just trying to feed their families and afraid to fight the Swiss Monster. Wyss should be locked up for refusing to do that study. Unfortunately, in the state of PA, non-competes are completely enforceable and very difficult to beat. It's a shame for the 3 reps in CA who are just trying to make a living. I know them all and they are great people -- no sales consultants knows any major trade secrets. PD doesn't even know how to get a product out in under 5 years. The only secret is what the hell takes so long for them to do anything! Pathetic... and it's only gonna get worse. They lost over 10% of their sales force since the merger was announced. The ship jumping started a long time ago... Patients first? That's crap - and they lost their best trainer in spine so good luck to any new rep coming in who wants any good information. I'd take my chances with company Poquita over Synthes any day. Trauma has been calling Spine the Titanic for years... they don't even play well in their own sandbox.

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  33. 3:16
    What are the anti-PODs? You are right, Huntsville and Chattanooga are a big mess. Word on the street is that Aust is getting real nervous. I guess he should be.

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  34. 11:08,

    Thanks for the link. Pretty funny.

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  35. 11:15
    Covering up the smell doesn't always take the sh&t away, shylock. Did WSJ show their whole deck? You wouldn't want stories to get out of the years that G Bros. paid the surgeons (ching ching) in annual stipends and how about those wheels each year. How much did Stryker know about this stuff over the years? Makker has the personality to fit so well to the G Bros....once educated, he wished for more of the pie out from these swindlers. Gutter rats! ...anymore?

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  36. @11:08 that's perfect

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  37. Steve Marion, you got to be kidding me if he is going to be the VP at Orthofix? On second thought he may be a great fit as he is a fantastic story/liar teller. He can't sell a thing he failed at the Purple Altar and now as a MN distributor and now he will be set up to fail at Orthofix. Is Orthofix that hard up for bodies??

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  38. @11:23am (aka 7:31am and 9:25am)

    Your comments wreak of inexperience and naivety. You probably got your first job fresh out of college with Synthes, and then BOOM...a few months later Synthes is acquired by J&J. The few docs that had been handed to you when you got the job probably jumped ship when they realized that their little consulting deals (or proctor deals or whatever) would be no more post-acquisition, and there you were with a quota that never had a chance at being met. So, what's a guy to do? Well, with the writing on the wall and no hope at gaining new business so soon, you jumped ship as well, and started shopping your "relationships". Your "relationships" were not strong enough to impress the "big boys" so you were forced to settle for a company like X-spine (runner-up was probably Life Spine). Don't get me wrong buddy, I feel for you and your situation. I'm not trying to kick you while your down. I'm just trying to illustrate the fact that the folks who have been doing this for a long time can see right through your rants and hollow claims of X-spine superiority. My advice to you is to bite the bullet and take an Associate level job with a company like Medtronic or NuVasive. Although I have never worked for either, it is well known that both companies pay their associates pretty well. Additionally, either company would provide you with enough case-coverage opportunity to gain plenty of experience and build the strong relationships needed to be successful in this biz long-term.

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  39. 11:23, What a rotten little diatribe. There are some good posters on this forum, you just aren't one of them.

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  40. Love the comments about what the G bros did, did you audit their books? What doctor did they pay? The naivety of your comments is amazing. I worked for them and heard all of the stories about how they run the business and what I can tell you is that they are the most honorable guys in the industry. They bleed for there employees, work harder than anyone in the business, and I can 1000% guarantee you that they have never paid one doctor ever. What they have done is kick a whole lot of people's asses in the business by out working the competition, selling great products and having the best sales team in the business.
    Grow up with your jealousy of there success, and acknowledge a job well done, not for one or two years like most of the burn out people in this business, but for 20 straight years and they keep trucking along.
    If you want to talk about underhanded behavior, the list is long and those people and companies have hurt this great industry. But those guys have worked there asses off and done a great job. Deal with it....

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  41. 11:23. I certainly hope you aren't referring to the "best trainer in spine" being dory... You must have drank her koolaid too, and I'll leave it at that.

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  42. 1099 is illegal moving forward if that's all you do in life to earn a living. U must be employees. Better get with it zombies! Govt just hired lots more people for audits.

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  43. Ah...Chip & Dip...know "the Brother's Grimm" well. Godfathers to half the Stryker surgeons children in the NW.

    So how are those restaurants working out? How about Kary (there's a tool) and their other doorknob losers working for their "subsidiaries".

    6:18 PM said...
    "Pay to Play".....go learn it from the Goodman Brothers out West (also Stryker...and also Dr. Maker of WSJ fame). They make an Art of "Pay to Play" with a horse whip on their surgeon partners.
    --------------------------------

    AMEN, they seemed to have perfected it with slimy style. Disgusting peices of work.

    ---------------------------------
    8:20 PM said...
    Very true about the Goodman Bros. The private jet whisking docs and cute nurses to see a play in NY. Yes, you have to be "All In" in the Pay to Play world of Stryker when the Goodmans's are the distributors. A deal with the devils. James Makker one of the recent whores for these pimps.
    ------------------------------

    Anyone for a 2 hour cadaver lab...in Hawaii?

    ------------------------------

    To 4:17 PM: You have got to be kidding. Just keep saying that to yourself when the DOJ gets finished with these clowns the clock is ticking. And then there is Stryker; you think they don't know?!? BS. Lets just be honest and call it what it is, deniable plausibility. Shame on them, I hope they pay the bill.

    Finally, Dory?!? Puleeeease!!! I wasn't that impressed. Synthes can easily do with out her.

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  44. 4:17 Just to let you with a historical perspective, whipper snapper, Stryker cut a deal with the Good Men around the late 90's. If my recollection serves me, it was a substantial amount of MOOLA, SAMOLEONS to leave S&N (MORE POWER TO THEM) Mogul and Smith loved doing that to the competition, of course Stryker set the precedent for corporate raiding, as for being squeaky clean, let's be honest, there is no one that has retained their virginity in this industry. Be realistic they can work their asses off, but you are still selling Stryker Spine and that my friend should say it all. BEST IN CLASS, maybe BEST in BS

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  45. The funny thing here is that everyone is bitching over a market that is eroding faster than the polar ice caps. If you think the sunshine act, or the banning of PODS or the suing of reps jumping ships will help at all, I recommend you start banging 3rd world hookers without condoms. The ship is sinking and this industry is not going to go up any time soon. Any volume gain will be offset by margin loss. Anyone who is on here with some sort of "inside track" should really get a twitter account and stay home and play XBOX until they somehow get a new job just for being so cool. Wake Up. Goliath has knees that are buckling.

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  46. The new spine Model! "Work Harder For Less". Cheers, happy 2012! See everyone at 3rd shift fed x- 4 rent money!

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  47. 4:17pm and5:57pm
    ripping on Dory is so wrong. she availed herself to us. when I left basic (and I speak for many colleagues) she always answered the phone - day or evening with an accurate response and a helpful solution. try getting that from anyone else inside. she is the only one who has real-world experience. you were't impressed? maybe you sucked during your finals. she rocked and i will still call her for advice. she has been in the industry longer than anyone else on the inside at Synthes. and at least she answered her phone! your a jackass for dissing her.

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  48. 425pm - and she got fired for telling lUcy the witch where to get off. at least someone finally told that moron the score. sorry to see her go. she knows nothing about spine. too bad she doesn't read this blog after all the bad press years ago - dory kicks ass. she is the best trainer i ever had. anyone who says otherwise must have had a sh*&^y grade in training. it's a damn shame that people want to kick someone like her in the as& - she tried to help the sales force - enough said

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  49. What's happening at Zimmer Spine? Or, is anything happening at Zimmer Spine? Just heard that people are leaving that ship!

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  50. Zimmer has a spine division?

    Paul and Kevin are winners!

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  51. FYI 4:25,4:17 and 5:57. If you were at the meeting when Dory was fired you would know the truth. She was actually speaking to Michel Orsinger and explained to him quite politely "I would rather be fucked in the ass than work for Depuy". That would be why she was terminated on the spot. And if you guys weren't such newbies you would know that she was worthless but since you came from pharma she seemed like an expert. You should get off this site and back to work as you will most likely be replaced with Depuy personal as soon as the merger goes through.

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  52. "and at least she answered her phone"

    That might be the funniest thing I've ever read on here...

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  53. You know, no one has actually asked this is some time, but when will Globus go public?

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  54. Sounds like the DePuthyes are beginning to realize that someone is going to be taking it up the wazoo.
    That wait and see attitude was exactly what JNJ wanted. The apathetic not-to-be-integrated sales force is finally hearing the wake up call! Stop hitting the snooze button folks.

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  55. Was in the device industry for roughly 15 years, exited about 18 months ago but still get a kick out of reading this bog. Bottom line, there's a lot, A LOT of people in this industry who don't belong and truly can't see what's coming. Folks, it's only getting worse, no new technologies on the horizon, little to no VC $$ to fund anything, the FDA is worse than ever before as it relates to approving anything new. It's an indsutry of highly commoditized products with little to no perceived value being brought by reps any more. For those of you who think your shit doesn't stink, your day is coming soon. The next wave coming is that reps will not, repeat WILL NOT be allowed in to O.R.s at all. Who really needs them? As hospitals have made access more & more difficult, they will look to remove reps all together from the equation. Are you really needed for an ACDF, PIF, TLIF or ALIF? No, you're not. You may think you are, but you telling them which tray to open or using your laser pointer to show them where to find an instrument really isn't bringing value. I've seen so many examples where a really sharp scrub tech not only bails the "case coverage"/ rep out, but makes the rep look like they actully know what they're doing. Hell, that's why so many techs have transitioned into this industry successsfully,, because they're so much better than the majority of reps out there.

    Move on, plan your exit strategy now, spine is suffering a slow death, the worst is yet to come for everyone.

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  56. What's going on at K2? Are they considered a legit player?

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  57. Zimmer Spine lost big money in 2011 and fell way short of rvenue projections. They just cancelled the NSM for this year, that should tell you something. My local guy says upper management has no clue and communication is poor at best, he is looking to get out and I am sure he is not alone.

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  58. So 524, where did you land where the grass is so green? I haven't been in this industry very long but this is how I feel... The only guys making any money are the ones that have been around a long time and started when there were only 4 players or someone's associate that inherited business. I enjoy the ass kicking I take everyday and keep positive but I keep my eyes open. Where are the jobs/specialities with large territories, few players (like the big 4 back in the day) and expensive products? Those are the key elements to making money in device sales.

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  59. Thanks 5:24

    Tell us oh great Sage what fantastic product do you represent now since device is no longer worthy of your presence? I'm sure you're basking in the green glow of the next New thing?

    You were obviously in the field when it really didn't matter if you knew your shit or not. Probably were a coverage rep during the BAK days and thought you were a selling machine! Or were you a Kyphon clown riding the wave? Now that it actually requires effort your gone!

    Glad you are out of the business putz.

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  60. 6:38pm
    Been there and done that! Now I have surgeons on the side who respect my network and cover my ass if shit goes down. We get products under the table and we bill the hospital by saving them a little bit. Well you know how that can be played. Join us while this goings-on are good. This will prolly change too. Time to adapt quickly, in and out. Catch each rise and exit before it falls. Join us.

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  61. And while Synthes (aka JNJ) picks a fight with just about all the industry, the playmakers in the shadows are running away with the prizes. Can we as leading companies in this industry please get a clue and stop the fighting amongst ourselves and go at the real enemy? Hello, is anyone willing to act?

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  62. To the (2) wise asses who responded to my earlier email,, I am no longer in the industry at all. See, that's the key difference between me & the 2 of you. I had a plan & a vision to take advantage of my run, but exit before things turned to shit. I got in early, yes, but also saw the future and planned accordingly. I saved a lot of money over the years and now have my own business completely unrelated to the industry you are currently drowning in.

    Feel free to be sarcastic, rude, arrogant or even jealous, but both of your responses confirm for me what I stated earlier: Both of you are probably young, think your ability is far greater than it actually is, and neither of you have a long term plan. You'll biounce from company to company over the next 5 years and finally end up on the turd pile where you belong.

    As for you, 6:38, enjoy your time as you continue to clean & organize your sets down in SPD or run trays on the weekends. Planning wisely now allows me to plan my days, hit the gym, and be home for dinner every night with my family,, things you can only dream of doing at this point.

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  63. Wow, this blog has degenerated into a negative quagmire, some of the crap written above makes me want to go take a shower.

    Does anybody have anything productive to say or insight to offer? How about some good news? "New England Venture Investments Showed Robust Growth in Q3", note that $1.9B was pumped into Life Sciences nationwide, see http://www.xconomy.com/boston/2007/10/23/new-england-venture-investments-showed-robust-growth-in-q3/

    I notice that Globus raised $100M...I guess they're not going public soon?!

    Good luck everybody, go get 'em in 2012!

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  64. Wow...$100 pedicle screws.

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  65. 1:37 After you towel off from your shower, please take note that your link is from 2007.

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  66. Only thing missing is a good blumpkin comment.

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  67. 1:37pm, what a retard. Globus did raise $100M in 2007. Idiot.

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  68. 10:00am. "no longer in the industry". Are you such a loser that you need to fill your days and nights trolling through spine blogs?

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  69. oops, was a little over-eager to throw cold water on all the negativity, sorry about that miscue. In the words of Gilda Radner..."Never mind". My goof aside, this blog has got to come out of the senseless mud-slinging and get back to worthwhile discussion. Oh, by the way, I heard about this innovative new laparoscopic anterior fusion procedure, I think it's going to be hot...

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  70. So how bad are earnings going to be for NUVA, SYK, DePuy, ZMH, MDT? Anyone with insider intel?

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  71. Alphatec on the hook for $18M over next three years to Biomet. The end of Alphatec?

    http://www.globenewswire.com/newsroom/news.html?d=242148

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  72. Biomet infringed on a patent owned by Alphatec? What patent?
    What a crock of sh_t JP Timm is!

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  73. How's the Alphatec GLIF system working out? It looks like pretty cool technology.

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  74. @ 8:57...GLIF was dead on arrival. Even the design surgeons don'y like it.

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  75. 7:55 Plus Biomet's spine sales are going to rise by 18% if they can count the settlement towards their spine sales.

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  76. Blumpkins are so 2011. The Angry Pirate is now the rage for 2012.

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  77. Biomet has a spine division?

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  78. I heard that NUVA hit the street number ......

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  79. yeah that is why nuva is down 10% so far this year

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  80. Steve Marion has the best hair in Spine! All you haters recognize!

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  81. @6:41 Of course NUVA did,, They'll tweak some accounting here or there as they've done in quarters past. Will it be the "write off of more inventory", perhaps lease costs for their facilities in NJ & Memphis? Perhaps they'll be even more creative this time around,,

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  82. This blog seems to be irrelevant now. No new posts. That's all good.

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  83. 3:29. So correct. Their Finance guys should all get promoted for all the fuzzy math they work to make a company appear more profitable than the sinking ship they are.

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  84. Wow, it's only 18M... but, might as well be 80M.
    Glub, glub, glub... that ship is sinking!!!
    lmao- jerks, all of 'em.

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  85. ATEC is sinking fast. They pay out $5 million in January 2012 and $1 million in Aug. 2012 to Biomet. Add on top of that an estimated continuing operating loss of 6 million and you get a net drag on cash of $12 million for 2012. In 2013 the Medical Device Tax kicks in and they will have to pony up another $4.6 million in taxes in addition to $4 million in payments to Biomet and estimated operating losses of $4 million - Total drag on cash for 2013 is $12.6 million. That's a total of $24.6 million is lossed over 2012 and 2013. They only had $21 million cash on hand at the end of the 3rd quarter in 2011.
    Me thinks they are in for significant cash flow problems. They run out of cash on hand at some point in 2013.

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  86. Penny Stock, the underwriters should be prosecuted, all of them, criminals

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  87. Cappucino is a bad example... He's always available to the highest bidder... Along with some other high profile surgeons. He went to lanx for money and would tell that to anyone who asked... NuVasive is a sad shell of what it could have been with less greedy management.

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  88. They planned all this a while ago while they were at NASS..

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