2014 earnings report call out last week from Nevro, they are killing it internationally by growing 87% from 2013. I just listened to it on nevro website and there US launch is this year, who is the head hunter they are using to get in?
There is so much anticipation around their US launch. Even if this stim proves to be a bust over the long run, NEVRO will have a two year honeymoon and kill it...at the expense of SJM, BSC and MDT. SO man docs want to try this and they will get the chance because many of their reps are going over to Nevro and they will follow. ME is brilliant and doing an nice job of identifying game changing recruits from the SCS competitors and bringing them over
ME "brilliant"? Hardly. Ran SJM into the ground with the rest of the Chavez leadership bozos and couldn't run away from Vertos fast enough. He's a carpetbagger and will move to the next "big thing" in another two years. Good luck
Any rep. with any significant pull is going to get locked out by their non-compete. I'd like to know how Nevro's going to get around that.
The exact same way MDT and St Jude have been recruiting competitive reps for years. Hire them and give them responsibilities that dont coincide with their previous call point responsibilities from the past year. Easy to do, effective, and perfectly legal.
No non-compete issues for the old guard reps that have been out of the game for awhile. These are the people that know how to bring new technology to market. Not the Reps in the industry today that are simply selling what others developed. This will be a sophisticated group that knows what they're doing
It's a "club". No headhunters required. Neuromodulation old guard with a chip on their shoulders. The new guard at BSX, MDT & SJM are about to have their lunch handed to them. Lack of respect is about to get a serious payback
Lol perfect! And agree. These are the best of the best that got dissed by a couple if the top dbags in the game. Call them the dirty dozen. They're back and delivering retribution. This group isn't knee deep in politics. They're here to make a lot of money and are going get paid handsomely doing it!!
They will kill it. What's the response? -No clinical data? --- Nevro has the best -No reliability? - Nevro gets their products from the same folks -No clinical experience? - Nevro has the best people in the industry big three have been sleeping and messing with warning letters for the past 5 years, not actually doing anything to improve the therapy (MRI=Yawn) - and Nevro is on it's way to being a valuation of $2billion.
You forget "no more relationships"....last time I checked only STJ has been dealing with warnings. Flash in the pan like spectra. Let me guess...you tried skinny jeans too when they first came out.
Revenue = ~400M in 2018, 3 years after FDA approval, going against 3 medical behemoths is what happened. No company in the spine or pain world has ever come close to that kind of rapid growth, not even Kyphon. Nevro is investing in studies that expand indications, building level 1 evidence and focused on the long game. Everyone else is just playing a commodity game.
wrong leadership team in place. The majority of seasoned and highly skilled Neuromod sales reps hired initially have departed. Turnover remains high. Great product, but as long as the company is run by mktg/clinical, Sales Managers will be busy filling open territories.
