A little bird told me:

A little bird, who is well in with ConvaTec Deeside management, told me the Con has already been sold to 3M for $11 Billion.

 

In your dreams...

 

How many hours on the crack pipe did it take to come up with that one?

 

your company blows

 

https://www.pehub.com/2014/10/convatec-owners-appoint-banks-to-explore-sale-reuters/

 

Convatec is the WORST organization I've ever had the misfortunate to work for, this group of incompetent goofs couldn't sell a sex toy to a prostitute. Once these hacks finally do find a sucker to purchase this shell they better move far far away and change there names because jail time will be all they deserve. I feel bad for the good people still stuck in this absolute shit show.

 

This may not be so far fetched

https://www.pehub.com/2014/10/convatec-owners-appoint-banks-to-explore-sale-reuters/

 

I have a bridge in Brooklyn for sale. It is worth $50 billion and big name companies want to buy it. Buy now before I sell it to someone else. I think it is called a used car strategy. Really $10 billion......it increased in value 2 1/2 times because.......we laid off a shit load of people and we can no longer function but we are making a boat load of money. That should attract a lot of potential buyers.

 

I have a bridge in Brooklyn for sale. It is worth $50 billion and big name companies want to buy it. Buy now before I sell it to someone else. I think it is called a used car strategy. Really $10 billion......it increased in value 2 1/2 times because.......we laid off a shit load of people and we can no longer function but we are making a boat load of money. That should attract a lot of potential buyers.

 

Doubt Kimberly-Clark is buying Convatec..................

"Kimberly-Clark Corporation (Irving, TX) announced the record date, distribution date, and distribution ratio for the previously announced tax-free spin-off of its healthcare business. The spin-off will form a new publicly traded company known as Halyard Health Inc (Roswell, GA). Kimberly-Clark shareholders will receive one share of Halyard Health common stock for every eight shares of Kimberly-Clark common stock held as of the close of trading on October 23, 2014, the record date for the spin-off. The spin-off is expected to be effective October 31, 2014, the distribution date for the spin-off, with 100 percent of the shares of Halyard Health distributed to Kimberly-Clark shareholders. Halyard Health has applied to list its shares on the NYSE under the symbol HYH."

 

That leaves 3M which is the company most likely to bid. The 10bil is also due to the acquisitions in the past years. i think this would be good for Convatec and would give it another chance.

 

This is like a broken record. This RUMOR has been floating around since last year. The products suck, we have no R/D or Marketing Dept that can get things done within year of announcing something "new" they are bringing out including literature (really is it that hard to create paper with pics on it and some words?)...., the VP is surprisingly one of the most idiotic individuals I have ever come across. I can't even believe he is a VP. He is really mentally dense. I am embarrassed to work for this company. My year is almost up and I will be moving elsewhere but I think every TM in every division feels the same way. Horrible management, I won't even use the term "leadership" because there are no leaders at the top, just greedy simpletons. I can't imagine any company buying Convatec for 10 billion. Our products in every category are not up to par with others. AND we are technically behind by 10 years. Nice refurbished computers and cell phones. Great ancient database system. NO CRM, no tablets....no internet (because everyone else doesn't have it..yea idiots..everyone else is getting paid well to make up for NOT having it..and they get tablets and a CRM and new quality products....)...so sad....there is no way anyone is going to pay 10 Billion unless they are clueless to how poorly our products are made and how bad our reputation is from the disgusting excuse for leaders at the top...

 

With this recent announcement about Kimberly Clark healthcare, it certainly calls into question the content in the link listing them as a possible buyer of Convatec. Where do they get their information? Makes the entire article look like the others we have seen that were made to look like credible "news" vs something created by Convatec's spin team to try to give hope and, or trying to create some interest from someone, anyone with two dimes to rub together to save us. I do not trust anyone from Convatec. From RSM up, they all lie...every single one of them. It is an employment requirement!

 

Yes I wouldn't doubt if Mark or Anita placed this string to try to make people stay longer since they screwed themselves thinking we would be sold by Sept. They are running around blind and dumb because they have no strategy. I say everyone leave and when you do let the competition know so they can take Convatec to the bank. With Surgical performing poorly now that hospitals have had an opp to use it for a while, and FS in the dump because Ken and Dom lied to the FDA to get product released so now any new FS won't be released for years (don't believe the prototype hype), things will only get worse.

 

All lies and empty promises, people are in serious trouble. My question is anyone from Nordic paying attention??

 

Spot on. It is all in the Cons best interest to try to spin this. People are looking hard to get out. If they happen to be in good standing and making bonus, they will stick out the year and then try to jump. In regards to no marketing team, have you heard they have at least one TM being made or should I say, promoted to a "product manager" from their home? They have been assigned some ridiculous, intern level tasks of updating old literature and such administrative stuff. This is as far from a marketing "product manager" role that I have ever heard of. They could hire a high school person to do this kind of stuff. Maybe an attempt to keep good people from leaving but a bit of a stretch and waste of skills. Wonder how much they pay someone to do this. I am thinking a decent salary plus get to keep a company car. For what? Yet we cannot hire real marketing people that can add value. Nothing against this person, just not the best use of their skills and far more valuable out in the field.

 

Yes the person you speak of is for CCC right? Or is it Ostomy? Or both? Well if they are updating literature, where the heck is it? It doesn't make sense to have them doing marketing as a position at a home office when they can hire someone at the main office. Mark is too busy promoting and praising people based on their looks and ability to speak like little girls and kiss ass to be bothered with running a company professionally. This company is such a joke. The person was probably put in that position because again Mark with his HUGE UGLY EGO thought Convatec would be bought by now.

 

"Oct 15 (Reuters) - ConvaTec's owners have appointed Morgan Stanley and Goldman Sachs to explore a sale of the medical device maker which could be worth up to $10 billion, sources familiar with the matter said.

Private equity firms Avista Capital Partners and Nordic Capital are preparing the groundwork for a possible sale or initial public offering (IPO) in 2015 for the Luxembourg-based company, said the sources who spoke on condition of anonymity because the process is private."


I believe it looks more likely that we will go Public (IPO) over being sold. The fact that the possible buyer has vanished, and all of a sudden we are trying to fill the open TM positions on our Career (cough, cough) page says a lot. Pretty scary that no one would want to buy us. Cannot imagine why not. Probably the same reason no one that is not desperate would want to work here. Beware how our RSMs try to spin this and watch your own back. I am one interview away from jumping off this ship.

Knowing what you know about this company, would you want to buy the stock. What a scam.

 

"Is ConvaTec About to Get Sold?"
"Posted in Medical Device Business by Nancy Crotti on October 16, 2014
Rumors that ConvaTec is preparing to sell itself have erupted again, with sources telling Reuters that the Luxembourg-based company has appointed Goldman Sachs and Morgan Stanley to explore the possibility. The company may be worth up to $10 billion, the story said.

ConvaTec, which makes products for ostomy and wound care, continence and critical care, employs more than 8,000 at 11 sites and does business in more than 100 countries. It is owned by private equity firms Nordic Capital and Avista Capital Partners, whom Reuters said are preparing for a possible sale or an initial public offering of ConvaTec stock in 2015. Nordic Capital declined comment; Avista did not return a message.

Avista and Nordic acquired ConvaTec from Bristol-Myers Squibb Co. in 2011 for $4.1 billion. Reuters reported that 3M Co. was also interested in acquiring the company at the time.

Rumors of the ConvaTec sale or IPO follow a larger wave of mega-mergers in the medical device industry. Such mergers are likely spurred by the Affordable Care Act, President Obama’s program of cost-cutting healthcare reforms. Medical device companies, which mostly supply hospitals, are looking for ways to drive down costs and stay competitive.

Potential suitors, also rumored to be interested last summer, include 3M and Kimberly Clark, according to the Reuters article. Kimberly Clark and 3M representatives declined to comment when contacted by Qmed.

Earlier this month, Beckton Dickinson picked off another potential suitor for ConvaTec, announcing its plans to buy CareFusion for $12.2 billion in cash and stock.

Other potential hurdles for a ConvaTec sale include a recently faltering stock market and IPO money suddenly drying up after a heady beginning in 2014.

Sources told Reuters that Kimberly Clark’s and 3M’s interest in ConvaTec does not hinge on a tax inversion, in which a U.S. company moves its headquarters to a country with lower taxes, thereby avoiding taxation at a U.S. rate. Medtronic’s pending $43 billion acquisition of Irish company Covidien initially hinged on a tax inversion, but the Obama administration has made it harder for Medtronic to enjoy some of the tax benefits.

In late September, the U.S. Treasury Department announced it would crack down on many of the financial mechanisms—from so-called "hopscotch loans" to stock transaction mechanisms—that inverted companies use to access the overseas earnings of foreign subsidiaries of the U.S. company that inverts without paying U.S. tax. It is exactly such financial mechanisms that Medtronic was expected to use after merging with Covidien and moving its official headquarters to Ireland. Medtronic decided to continue with the $43 billion purchase anyway."


While this is just from Oct 16 2014 it is pretty much all the same stuff from other online articles, including the wrong 2011 date for the sale of Convatec. I tend to believe what the previous poster stated, they are likely trying to line up an IPO as that is currently their only real option. Unfortunately that means we are doomed to be under the same management team from RS up. I left off the "M" on that title as mine is not a manager but someone's wet dream and only reason she was promoted. I might consider staying around if they would clean house of all managers RSM and up. Otherwise there is no hope for ConvaTec - or the sales team.

 

Ever since the morons from Avista & Nordic took over and put the current lineup of dumbass dipshits in charge, ConvaCrap has been in a death spiral.....and nothing has changed except for the endless turnover of a few hundred reps a month. An IPO would be hilarious to watch as CVT evolves into a penny stock.....what are you waiting for?!....jump ship now or buckle up as you become part of the crash landing