Layoffs announced today at MiMedx

From Coles, “The realignment program will include a reduction of our workforce by approximately 240 full-time employees a crossed our office locations and in the field.”

 

Which territories/ regions got cut. I’m safe in Dallas!

 

The stock is currently down to $1.15 and bankruptcy is imminent because of the pending lawsuits, the decline in sales in 2018, and now an even depressing reputation in the industry. If you are an AE that didn’t get let go with a severance, you should be pissed.

 

Better positioned now. We’re still #1 by far in this category and we are still selling strong. Actually way ahead of the competition with selling, etc.
Many companies have similar grafts but any get into accounts like we are. Here to stay.
Really can’t wait for it to all pass.

 

You have got to be kidding. This place is a dumpster fire.

 

Agree, we are in a really good position and only the dead weight will be cut! Pete put together a talented sales team that will survive some rough waters

 

There isn’t clearly sarcasm being shared here just to get under skin of others. Revenue is down across the country and has been all year. AEs have been leaving left and right and yet they still hired many this year only to let most of them go this week. Don’t go by the employee numbers in LinkedIn either. People have left yet still keep MiMedx as their employee because they went to a competitor and won’t update it. They don’t want to violate their no compete.

 

Dumpster fire is a kind description. The company will not survive as an independent entity and the most logical course of action is for somebody without a tarnished reputation to buy the company in prepackaged bankruptcy, rebrands the products, keep those employees worth saving, and let the attorneys fight over the remains in the bear pit. A prepackaged bankruptcy is about the only maneuver that leaves the lawsuits behind with no risk of successor liability. It will be ugly all around.

 

Without question, this company will file for bankruptcy within 1 year

Actually sell the pallets of grafts piled up in “distributors” garages to pay the lawyers

Payback for the 10 years this company has spent bankrupting our healthcare system through inflated medicare pass throughs

Mimedx products have 0 OBJECTIVE and/ or strigent RCT’s showing any substantial efficacy

Oh not to mention our nations veterans.....scamming some of America’s bravest w scam products and shady business practices.

Sleep well tonight Mr and Mrs Podiatrist........12th application on another dfu coming soon....it’ll all be Epifixed Monday morning

or maybe Amniothrilled.....

Lets take all the byproduct crap left over from making Epifix, put it in a bottle and call it Amniofill, we’ll scam billions.

Thanks Pete,
- Veterans Health Administration

 

How are Dean & Kuntz still be employed at MiMedx ?

They helped in committing the fraud.

Coles needs to dump them ASAP with cause !

 

The high level of “Businne Acumen” by Pete is just overwhelming

https://www.sec.gov/Archives/edgar/data/1376339/000119312518344985/d628135d8k.htm

 

Read the efficacy studies of EpiFix, why is it that in at least one study there were so many smokers in the control group, and so little in the EpiFix group? Would smokers have a slower healing rate for DFUs?

 

Good sales people don't need to worry about any job cuts. This will eliminate dead waste and allow the company to move forward. The future is bright for those that want to make money and help patients have better outcomes

 

Someone is really drinking the Kool-Aid. It is really shameful the way MiMedx From the top down has fleeced the VA Health System and blatantly lied about financials to solely make money.

This company is not even about helping patients, that’s the last thing they went to do. They want to sell as many grafts possible per patient, or stocking orders, just to inflate the numbers.

 

That’s the dumbest thing I’ve read on CP in a while. MiMedx touted in the beginning of the year they were hiring 100 additional sales reps, and now they are laying off more than 100 AEs. They have just unleashed angry reps that we’re promised $200K plus jobs, that never happened, and now they are free to tell others what really happens in the sales department.

 

This makes you wonder, what the heck were Bill & Pete thinking? Did they really believe they could get away with this?


https://www.ajc.com/news/state--regional/auditor-walks-away-from-mimedx-pointing-big-trouble/1iGOo6t3V22dQCbClOMnLJ/

 

There are people that think Pete and Bill are brilliant businessmen. But in reality they are just a couple of rubes in over their heads.

 

IF YOU ARE A REPUTABLE SURGEON WHY ARE YOU STILL USING THESE PRODUCTS??

YOUR REPUTATION AS A PHYSICIAN IS THE MOST IMPORTANT THING IN YOUR CAREER

CONTINUING TO TIE YOURSELF TO THIS FRAUDULENT COMPANY MAKES YOU, YOUR HOSPITAL, AND YOUR WOUND CARE CENTER LOOK FRAUDULENT

YOUR PATIENTS ARE READING THIS.....DONT LOSE THEM BECAUSE YOU ARE CONTINUING TO MAKE BAD CHOICES BY SUPPORTING A BAD COMPANY

HOW CAN YOU SUPPORT A COMPANY THAT CHEATED AND SCAMMED YOUR BIGGEST CUSTOMER WHO PAYS YOUR SALARY (MEDICARE & MEDICAID, THE GOVERNMENT)?

WHAT MESSAGE ARE YOU GOING TO SEND TODAY?

SEND THE RIGHT ONE

 

Aren’t there 3 other firms still preparing 5yrs of financials?
Of the 300 million in sales. How much was really overstated. 100%?
50%?
10%?
Still over 200 million in sales and still moving. Ask yourself, how much in sales could a company overstate? Be reasonable.

 

NOW HEAR THIS PHYSICIANS

IT IS NOW “A” OK to OVERSTATE AND STUFF 10% OF A COMPANIES SALES IF AND ONLY IF IT IS 10%

GREAT....FANTASTIC NEWS, MAKING A PROFIT BY SCAMMING THE GOVT AND EVERYONE ELSE JUST GOT THAT MUCH EASIER

ASK YOURSELF THIS MR AND MRS SURGEON, HOW WOULD YOU FEEL IF YOU OVERCODED IN YOUR PRACTICE ONLY 10% OF THE TIME? ACCEPTABLE? ........HARDLY


“IT WAS ONLY 10%”
- Scamming Mimedx rep, manager, or corp exec, 12/12/18