So we hear a lot about transformation these days. How it's not easy, how it's necessary, how we'll all be better for it, how Patterson will emerge from the process like a phoenix from the ashes a stronger company, better leveraged to capitalize from the new age of dentistry. Without diving into the sewer of negativity surrounding stock price, SAP, leadership changes, employee migration, etc., can someone please weigh in on specifically what this transformation is designed to look like when complete? Now would be a fantastic time for upper management to share with the remaining loyalists what the actual long range plan is. I've still got my wagon firmly hitched to the success of this company. Admittedly, It's slightly disconcerting and smells a tiny bit like desperation to see a Tony Robbins video telling us to keep the faith. This board is anonymous, right? There's plenty of bashing and trolling in other threads. It's low hanging fruit. Let's try to keep this one constructive for the sake of sharing ideas and information. Seriously, what is it the new Patterson is transforming into? Thanks.
The punchline to a bad joke. That's what it's being transformed into. There's nothing positive to say right now. There is no light at the end of the tunnel not with the current direction. I'm hitched to this companies success too but I'm a realist and know it's only a matter of time before we're bought/sold or simply just go away... sad but where things are at these days, very dark days...
Competition sells as low as 10-12 % GP. A lot of good support staff left Patterson in best years was riding on good cerec margins and sales and exclusive agreements Just 3 cents here.
With Amazon entering the market and selling direct not third party at currently 15-25% margins it's only a matter of time before they sign up 3M and the other big boys and get to their 3-5% norm... then what? Support staff are great if they are able to support but with SAP they've been neutered. Look there's just nothing positive today to discuss. Senior leadership is out of touch with the field now more then ever. It's as if they think we're still using order pads and emagine.
And when the leader of the so called "transformation" pulls his chute half-way through you just have to know that he saw no light at the end of tunnel. The reality is that any hope of success will be feasible with a strong leadership team....and we simply don't have one.
"This board is anonymous, right? There's plenty of bashing and trolling in other threads. It's low hanging fruit. Let's try to keep this one constructive for the sake of sharing ideas and information. Seriously, what is it the new Patterson is transforming into? Thanks." You guys are Dead, not dying, D E A D. Finished. Finito, You're just too stupid and ignorant to see it. Look for a New Job NOW. You're Welcome.
The writing is on the wall. Many dont want to admit the changes that are coming are here. The entire industry is changing, Patterson is the slowest to respond to it though and will suffer the most because if it. It's been a great run but it's time to go.
So the distribution model in general and Patterson specifically are dead and it's time to rush the exits? Anyone remaining is clearly too stupid to see it? How incredibly illuminating. Thanks for the transformation clarity.
Nevermind. The transformation strategy is outlined right on the front page of the new Patterson Pulse. According to Jim Wiltz, Phase I is portfolio evaluation. Jettison medical and focus on dental and animal health. Also not renewing any exclusives. Phase II - infrastructure modernization, namely SAP and beginning to hire more people. Phase III - margin expansion. While the rest of the industry is racing to the lowest selling price, Patterson is figuring out how to make more money with our new found "operational muscle." All better now.
the fact is Anderson knew that on the other side of the transformation strategy is a failed organization. Why else would he leave at the prime of his career? Was the task to hard, impossible, or did he hit the eject button to make sure his reputation doesn't take a bigger hit? Of course lining his pockets with more than 2M on the way out was the icing on the cake. Make no mistake, MN mafia serve only themselves and so the descent into the abyss will be that much faster.
Anyone who thinks Anderson left of his own accord is either stupid or ignorant or both. He was forced out, "allowed" to resign and is making nearly $3mm as a result, typical executive contract... The board, the few who are lucid forced the issue, their greed kicked in and they realized they were going to lose shit ton of money, didnt realize how bad it was until too late though, and he was the first casualty. The real casualties should have been those left over, well the first ones to go... the board and current leadership are as bad as they come and aren't getting any better anytime soon. The nightmare at the rate the stock is going down will be over soon enough. If your resume isn't ready, get it ready. Can you say Healthco boys and girls.
That is no doubt the case, they have done nothing of real substance to accommodate the new dynamics of dentistry during his time in that role. The collective brain trust that's still left couldn't fill a teaspoon. The next beat down will come in a few weeks once the Q1 results are released and I certainly hope that others usually on the earnings call are booted by then too. They can all FO.
"Can you say Healthco boys and girls." Yes, I can. I was in mid-career, on the street in wholesale - merchandise with a major company at the time. On a nothing special Thursday was detailing with a good friend - Healthco retail rep having fun as usual. Towards the end-of-the-day, he received a message to bring his laptop and territory records with him to the normally scheduled sales meeting the next day, Friday so he and his manager could do a 'quick review'. The manager of the Branch was truly a decent fellow and my friend had what he thought was a good relationship with him, plus he was growing his territory nicely. Later, my retail friend told me that By the End-of-the-Day Friday, everyone was gone, inside and outside, (one customer service person was answering the inbound line) laptops and records were in-house and severance was delivered. By Monday, the company, Healthco was gone. History. Beware and Plan Ahead. This time is likely NOT different.
can't shut the doors now....no way. not when Patterson stocked up to the rafters with CEREC and Sirona xrays. When the fire sale starts on them....you know they are getting close.
they should pay the execs severance packages with that overstock nightmare they blame us for. Get your golden handshake by selling that shit with the tools you gave us during that moonshot abortion
The overstock nightmare is due to the over price nightmare... The over confidence nightmare and the over hired nightmare at the corporate offices...
