Ameritox purchase

Not good! Solid performers resigning because of him. He will be the death of Aegis

 

This is your warning. More to come

 

So thankful I no longer work there. I hear the ship is now under water and going down fast!

 

20 plus laid off from finance and now outsourcing most billing. Was just a matter of time before this happened. Cost savings. More to come.

 

Happy Holidays! You better get out now before your job is eliminated.

 

Chime the Celine Dion...

 

Glad i escaped before all this drama!

 

More layoffs today! Start being honest with these people!
Now parting ways with your CFO. This is a strict sell the company asap, zero organic growth and outsourcing everything. Leave now!

 

I hear more layoffs coming in first quarter too.

 

I am surprised they have ISR’s. No other company in the industry has them. I can see where they help with behind the scenes paperwork however they do not generate business with phone calls. I would not be surprised if they eliminated this luxury position for the sale to add outside sales reps for revenue generation.

 

Aegis is trying to sell to anyone that will take them. They have huge debt and are looking for a way out. They see that pain management is shrinking fast and the limits the insurers are putting on testing is starting to take its toll. I give them 1 year before they are either bankrupt or someone buys them at a major discount!

 

So true! It’s looking more like bankruptcy with the incompetent low level leadership that is currently in place. If they were smart they should offload at a discount ASAP before the RSM’s depart and the business vanishes.

 

Sounds like this is written by an ISR. They do nothing to generate $ and should be client services again. Having one dedicated person is a mess when they are not at their desk to answer the phone or look at email that clients send needing time sensitive stuff. This does more harm than good.

 

*FYI: Not the person you originally replied to, nor am I in CS*

The reorganization of Client Services into Inside Sales and Client Services was very much gimmicky.

Aegis’ flagship product has always been its Customer Service and willingness to bend over backwards for its base customers. With the introduction of new management, this was lost.

The reason for its loss in Customer Service was two-fold: 1) They took on more business than could possibly be handled by the laboratory and supporting teams. 2) Management’s own doings of droppings customers and trying to standardize across the board.

Larger businesses do this all the time - but Aegis isn’t a large business and didn’t have the up-front pocket book to withstand the storm of this shifting from a medium-sized business model to a large-sized business model. They pulled the trigger on this strategy way too soon.

As a result, their operational debt increased significantly while during this shift, too significantly. As a result, they’ve had to slash budgets and major layoffs have happened in every department within the company almost.

Unfortunately, I’m not sure this ship can be righted. You get one shot at going from small business to medium business and Aegis executed that semi-effectively. You also get one shot at going from medium business to large business and the results have been pretty lackluster.

 

Well said. Current management has a track record of being highly unsuccessful in the past and it looks like the trend continues. How long will the board of directors allow them to continue to drive the company in the ground?

 

They are in sell mode this year. The 'new' leadership that little napoleon has hired is just to get a transaction as soon as possible. No where near projected ebidta. Fire sale.