Tommy Mitchell have you hit pay dirt? If you have, it couldn't happen to a nicer dude. The scuttle butt on the Street is that Medtronic announced that they have acquired the portfolio of AMT/Spine Source. The Big Blue closed the deal a few weeks ago in quest to enhance and expand their inter body offering. Does this bode well for the boys at VTI? One of our sources has claimed that VTI was attempting to get into a relationship with Medtronic in hopes that they would eventually acquire their IP to the nucleus replacement device. But back to the real story, AMT is based in Nonnweiler, Germany and has developed a comprehensive line of inter body devices. The decision to acquire AMT/SS was based on Medtronic's view that this company had the best technology when it comes to expandable cages.
Medtronic is hoping that with the addition of this technology, and an exceptional sales force, great things will happen. TSB doesn't necessarily believe that this will generate $20 million in new revenue for this fiscal calendar until they build more inventory. So let's give credit where credits due. The Big Blue saw a need, and addressed it. Now its time to back up all that talk, get your distributors and sales people inventory, samples and marketing collaterals or else you'll sell bupkus. Remember what one of our sources has said, you can't sell product if you don't have anything to show, just ask VTI.
Could the acquisition market be heating up? Are expandable cages where its at? Whether you love them or hate them at least MDT is keeping up with the clinical trends. But what does it say about good ole American innovation? Those Germans, first it was the Kuntscher Nail to heal the Luftwaffe, then the Porsche, and now its expandable cages, TSB could hear the cry, the FDA and big government is hindering our ability to innovate. BS. Investors have caught on to some of these impostors and refuse to invest in people that burn through money like there's no end in sight.
Spine Source was the national distributor of AMT and I'm not certain Tom got the payout on this deal. They distribute for a few other companies, too. Tom is a great guy and I'm hoping he did win out with this agreement. As for Medtronic, just another example how they are poor with innovation but great with acquisition. I'm sure some MSD consultant surgeon will be surprised and excited seeing the new interbody although the spinesource rep probably left a dozen copies on his desk. MSD, Depuke, Stryker, Zimmer, Globe-ass, ect....again, great at buying or stealing IP, not so great at engineering.
ReplyDeleteMSM, you call Tommy Mitchell a nice guy but you weren't so complimentary of him last October.
ReplyDeletehttp://spineblogger.blogspot.com/2011/10/tommy-can-you-hear-me-i-can-hear-your.html
Is this a different Tommy Mitchell? My apologies if it is.
It is
DeleteWrong Tom Mitchell. Mr. Mitchell of Saint Louis and SpineSource/AMT is a good guy. Mr. Mitchell of Indiana and OrthoDirect is not.
ReplyDeleteI thought that might be the case. Couldn't really see the Fort Wayne Tommy Mitchell doing anything constructive or well-received. Doesn't appear that he and his minion Shaun Hoover are having as much success as they'd hoped converting hospitals to the OrthoDirect USA way of life.
DeleteWord has it that MDT paid $50 and a cold 12 pack of Warsteiner for AMT.
ReplyDeleteThey overpaid, but they are good at that
ReplyDeleteHow much did they pay?
DeleteAMT may have something really good in the works and Medtronics/FDA wants to squash it.
ReplyDeleteSo much for the anti trust laws.
Heard from a former VTI employee that they were recruiting MDT distributors, if MDT is smart wait until VTI implodes and then buy whatever IP they have in a fire sale
ReplyDeleteThey only overpaid if it was your money. If Big Blue has the ability to acquire another company, do you really care? Stryker does it. Nuvasive does it. Globus does it (maybe that's what that extra $50 million is for), J&J does it. When was the last time we saw organic growth from some of these companies? If you have the opportunity to add another product to any sales reps bag, it only means another opportunity to sell and increase company and rep revenue. Time will determine if Big Blue made the right deal. Who gives a rats ass about a half assed operation like VTI. They are betting on futures, and based on Felts track record, the future looks bleak. Good Selling, I'm out of here.
ReplyDeleteMSD bought AMT primarily for the titanium coated PEEK technology.
ReplyDeleteNot a real expandable device...yawn
ReplyDeleteOnly his mommy calls him Tommy. It is Tom Mitchell, SpineSource, Inc. based in St. Louis. And I hear he is doing just fine.
ReplyDeleteEveryone loves Tommy, ahem I mean Mr. Mitchell, right Dennis
ReplyDeleteGood for Tommy!!! (I'll call him whatever I want, jerky).
ReplyDeleteHey 7:47, we'll call him Tommy if we want to. Shut yo face.
ReplyDeleteTom Mitchell is a stand up guy. i worked with him early in his device career.
ReplyDeleteHooray.
ReplyDeleteLet's talk about how shitty spineart is some more. Wheeeewww!!! That was some fun stuff!
ReplyDeleteGreat idea! Are you the same asshole that bitches about Globus while they continue to take market share? If Globus, SpineArt, LDR, etc... offered me more money I would I would tell my company to piss off. What are they doing for me except driving their stock into the toilet. The smaller companies are where the innovation and growth is coming from. Make an intelligent comment or go fuck yourself!
ReplyDeleteGreedy whore.
Deleteyeah surgeon customers love it when their rep hops from company to company chasing a few more bucks when they are already north of $200k. Then they cry when a doc doesn't follow them to Spinal Elements or some shit like that.
DeleteThe industry has created a whores market that appeals to whores. The medical device industry... whores helping whores exploit suffering. It's the American way.
ReplyDeleteThere is still a contigency of honor in this industry if you just start subscribing to it. Bad company corrupts good behavior. Start collaborating in the light and keep the patient first. It can be done.
ReplyDeleteWho will medtronic buy next? Any thoughts? Zimmer?
ReplyDelete