Looks like Mentor is the next Operating Company on the chopping block Johnson & Johnson exploring sale of Mentor breast implant unit, sources say
So CSS would become nothing but Biosense Webster? I am assuming Acclarent wouldnt be around for much longer either.
Well, every divest I have seen - the captains are able to jump off right before everyone else goes down with the ship. I say when the decision is made, do not let the insiders jump off and leave all the others with no life jacket. Gee, might be a Credo issue allowing them to do that every time.
Yes, the irony being the “captains” weren’t good enough to make keeping the opco from being divested. So yes, let’s make sure we find another spot for them since they’re so talented.
The large number of resignations in the last few weeks of management, including the president, should be a warning sign that a big news announcement regarding the future of Mentor is imminent.
totally correct, that always happens, the highly paid captains never go down with the ship, they quickly grab the lifeboats for themselves and leave us grunts to go down with the ship into icy water like rats. That will happen again here. This J&J company has been “teet”ering on the brink of disaster for some time. Implants are now politically incorrect for enabling the worship of big-boobed women in a now flat-chested gender neutral world. Also yes on the assholes here, especially that Sudheer Kancherla ass hole that was just terminated, good riddance. Glad that Rocio Roberts idiot left several years ago, she was a huge bitch to everyone here in Mentor.
It’s how the old boy network operates. Everyone is free to look for another job within JNJ anytime they want. Unfortunately the little people don’t always have someone looking out for them.
Yes, everyone calls their “favors” in when they get scared, that’s why they offered their “favors” in the first place. Closest sites are not too close. San Angelo has several openings now. Most of the rats will go down with the ship as the Ivy League crowd will slip off early with all the lifeboats. The CREDO will be playing on the main deck the entire time. Should offer free units for J&J associates before the sell is final. Get those company store orders in now.
Mentor is back on the market, after last year's finanical/pandemic speed dump slowed things down a bit: Bloomberg - Are you a robot? J&J Revives Sale Plan for Breast Implant Unit Mentor Johnson & Johnson is reviving plans for a sale of its breast implant unit, according to people with knowledge of the matter. The company is working with an adviser on a sales process for its Mentor Worldwide unit, said the people, who asked to not be identified because the matter isn’t public. The business is expected to draw interest from private equity firms, according to one of the people. New Brunswick, New Jersey-based J&J had started a sales process for Mentor last year but plans were shelved as market turmoil in the early days of the coronavirus pandemic crimped dealmaking. The business is on track to generate $140 million a year in earnings before interest, taxes, depreciation and amortization, one of the people said. A J&J spokesperson declined to comment.
Take a look at who is playing in this space AND who does not have breast augmentation. Allergan (ABBVIE/ABBOTT) has this tied up with bundling, discounts, and incentive programs. Remember in the elective breast augmentation market, there is no federal reimbursement. Means that the deals are strong. These come to mind... Galderma (EU Filler Market and some intro back to the USA). EVOLUS (Robust toxin penetration and exclusively a cash pay business model) REVANCE (Long-acting and novel tech for toxin and filler) I was around when MENTOR did great things for practice building and J&J killed it because it conflicted with their model of compliance. Aesthetics is different from Pharma ... too bad the leadership that took over did not take time to understand that. Look forward to seeing MENTOR come back strong.
Coincidentally the new head of Galderma US is the past president of Mentor: Diane Gomez-Thinnes Galderma is owned by private equity, and Bloomberg News said that private equity firms are the likely bidders for Mentor. Evolus & Revance are too small to afford a purchase of Mentor so Galderma's private equity owners seem to be the likely fit here. Sheri McCoy (former JNJ executive) sits on the Galderma Board of DIrectors.
NOW THIS IS COOL. Love to see GALDERMA come back roaring in. Don't count out the scrappy EVOLUS team. There are some smart smart people there.
They only dumped those other OpCos on BWI because they could hide their poor performance better under BWI's continued growth. BWI will be better without them . . ..