Yes, they all took off. Over at St. Jude now. Atlanta isn't the only mass Exodus for Sorin, they are crumbling in the CRM space.
Sorin has been dismantling the US CRM since 2012. Their plan was to merge with or sell out to another company. Now they are merging with Cyberonics out of Houston, the makers of VNS systems. Sorin CRM has been completely mismanaged for years and the latest management group from Boston Sci have been complete idiots. Sorin now realizes that they are in dire need of a name change and complete make over to try to remove the stink the have created with hospitals, doctors and patients and total disregard for business ethics. There is not a handful of so called reps left in the US. Atlanta, Miami, Phoenix, SC, West Coast where they had business are all but gone. They don't care about patient care or safety. Their plan is to sell off existing inventory to some paid off doctors, pull out, merge and change names then try to come back in 2017-18 as a new company under a new name with their supposedly new heart failure technology and VNS "Cyberonics" products. The SonR technology is dated and all the big players have something similar. It looks like the new company may also be a set up for a spin off to make the European investment banker a load of money and allow top management to line their pockets. Anyone who still works with US CRM will be out on the street by November except some of the management who will milk this to the bitter end just like they have been doing for the past 4 years.
I agree with much of what you've said. I don't believe the SonR technology is dated however, from what I gather, it really does appear to be a giant leap forward for CRT. There are still rep's in Miami and Phoenix and a big presence in SoCal. The SC, ATL teams are gone, they don't have a rep from SC all the way up to Massachusetts. They dismantled entire states and left them empty in the South. I don't think anybody has any clue at how bare bones of a ship they are navigating right now. US CRM is still going to be around for Sorin, or whoever they will become, but it will not be the focus. There is no money in pacing anymore. Really the best thing they can do is let one of the other guys buy it out, drop it to a 4 player market and focus on something more profitable for them. They have to be bleeding money out of their ears in the US CRM market.
Sorin looks as if they are trying to keep a presence in the US so they can spin off to a larger company that needs CRM and cardiac surgery. Having merged with Cyberonics, bought Oscor and have worldwide markets in both CRM and Cardiac Surgery, looks like that is the plan. Being the worlds largest medical company, J&J would be my guess if they bite, They buy small companies and that gives them technology, manufacturing and they have the money and don't have VNS or CRM. My suggestion is to "Shit Can" all the top Sorin management if you want any integrity. Going to take several years to do the deal but that's my take.
