Terumo Interventional

Re: Terumo Interventional - Why so many openings

I looked on line and there are dozens of TIS openings in major cities accross the US. Why is this as it seems like a red flag or Tperhaps it means an expansion team for a new product?? Thank you for your insight.

 

I second the prior post....any reasoning as to why there are new openings in major markets? New acquisition pending?

 

Abbott has taken over the periph market.

 

I think its a sign that things are getting dicey inside T. Sales are lagging with no new products to speak of. Resting on laurels and hoping docs convince the hospital purchasing departments to stay with the product. Time will tell but this is a company at a crossroads.

 

I second that. Have not had a successful new product in some time. Last two major initiatives (Onset and Urology) have been miserable failures.

 

Anyone know what's going on with urology?

 

Surprised at how quiet this board is, given that the leader of the failed Urology business was promoted! No one was fired for this utter disaster! Proves that yes men that surround Rushworth are protected and the reason this business is on shaky ground.

 

The new job listings are due to expansion, 15 new TM's were added this fiscal year. Sales were up almost 15% for the sixth year in a row and with that will come even more new territories in six months. TM comp plan also got raised to 210k at plan, with uncapped money and quarterly bonuses.
Terumo is too engrained with certain products to lose business, it doesnt matter who comes out with transradial equipment, TIS has been the market leader for multiple years now, same can be said for Glidewire and Pinnacle.

 

I disagree that they cant lose business. Docs are really being forced to look at cost and Terumo's pricing is far higher than competition. Fit form and function being the same, the lower cost product is going to start winning based on reimbursements and docs being forced to address costs. Terumo has little wiggle room in the cost area.

 

These are not expansions. Turnover is through the roof. Go on Linkedin and lookup TIS. The majority of reps you see will have less than 1 year tenure.

 

Openings are just one of many problems. Cost, the ACA excise tax, Japanese reimbursements and the medical products group all weighing on earnings. Hitting plan was a given at one time. Now it's never assured until the final number.

 

Not true, 15 new territories were created this fiscal year which started 9 months ago. Sure, there is turnover as well which any company with 90 employees will have, but it's a much better gig at Terumo than most other endovascular companies (QOL, Products, Compensation, training).

 

More people are already over there number this year than in any of the past four years (all of which were huge growth years), so what you're saying isn't correct.

Terumo's cost has always been higher on most proudcts. Yes, price matters and in some areas Terumo will get aggressive on price, but their model and pricing has worked, they are growing faster than any other company in this space. When the stop growing business so quickly, then the doom and gloom conversation can begin.

 

Time will tell. Remember, Obamacare has not fully kicked in yet, so the pricing pressure is not fully realized. Ride it while you can. Good Luck.

 

How is the urology division doing?

 

Rumor had it that Urology was going to be closed down. Haven't heard anything recently, though.

 

Yes, this is accurate. Speaking from experience, proceed with caution, this company is NOT an easy one to work for. The training program is still in its infancy and their management is mostly comprised of top sales reps, many of which were of course spectacular sales reps, but they cannot manage effectively. There are of course exceptions, but many manage through intimidation with little or no useful help on ramping up. They basically swing hammers above their reps' heads all day.

It will be difficult if you have not sold in the cardiac space...there is a HUGE amount of clinical information to absorb and 28+ unique products to learn, all with many SKUs within each. Their head trainer Charlie is absolutely outstanding (personally and knowledge wise) but once he cuts you loose it's a race to get into the swing of things. They give you very little grace time to learn anything or produce growth.

My advice - document EVERYTHING. Direction from your manager, anything that has a timeline on it, etc etc. Bottom line is that it's not an easy job, that's expected, but my point is that it's an unusually and unnecessarily difficult sales organization to work for. Good luck and all the best.

 

Anyone expect anything different from this years NSM?

 

How is the Misago stent launch going?

 

I thought NSM was okay, not a fan of the five our awards dinner. Way too much time seeing every marketing person at Terumo get some random award. Meanwhile, the reps who bring in the revenue and have blown the number up this year were hurried across stage and overlooked.

Not sure what to think of Misago yet. Seems like a quality stent, but it comes in a crowded market with new technology being released. The time spent chasing the stent cases at $750 a pop don't seem worthi it compared to selling AZUR and TRI.

It should be a good year though. Good comp plan, a lot of growth and TIS is off to a fast start.