Covidien bought by Medtronic

Discussion in 'Applied Medical' started by Anonymous, Jun 17, 2014 at 11:21 AM.

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  1. Anonymous

    Anonymous Guest

    How will the Medtronic/Covidien merger effect your business?
     

  2. Anonymous

    Anonymous Guest

    Being that Applied doesnt/can't bundle, wont even buy a dr a bagel or cup of coffee, and only has trocars and a few endomechanicals, I would guess they get sold by the end of 2015. Applied already lost half their business in NYC to Covidien.
     
  3. Anonymous

    Anonymous Guest

    Why do you have to buy a doc something in order to get them to buy something from you?
     
  4. Anonymous

    Anonymous Guest

    I think you are missing the point. A dr is not going to make a decision to use you or your products based on whether or not you have bought him/her a 1.99 cup of coffee. The above poster's take away point is that Applied is so friggin cheap that they even have the gall to charge it's potential surgeons $250 as a non-refundable deposit if they want to go to their course to use THEIR products! In my 20+ yrs of sales, I have NEVER heard of such a policy. The best thing that could happen to anyone who is here is for a Covidien or Ethicon to buy us out.
     
  5. Anonymous

    Anonymous Guest

    How does Cov or Ethicon buying out Applied end up as the best thing for everyone?
     
  6. Anonymous

    Anonymous Guest

    I talked to an Applied rep yesterday and they told me that the move post if true! i don't work for a competitor, and hardly ever get on cafepharma, but this is the most amazing policy i have ever heard for a sales org.! I had a friend that was going to apply for an opening with you guys, but told him to come here and read some of the posts. He changed his mind, needless to say.
     
  7. Anonymous

    Anonymous Guest

    You were right, it was needless to say that.
     
  8. Anonymous

    Anonymous Guest

    here's something that is probably not new to anyone, but sheds some light into the kind of greed that is taking place internally at the executive level:

    http://fortune.com/2013/01/07/the-kicking-and-screaming-ipo/

    some great take away points as to why investors, employees, competitors, and even their own investors can't stand Applied:

    "All I can guess is that Hilal doesn’t want anyone else calling the shots, and he has enough shares to prevent a change-in-control. Maybe it’s because he honestly believes someone else will mess up his business. Or perhaps he doesn’t want to risk a change to his lucrative personal compensation ($875k base for 2012, plus an $850k 2011 bonus and untold dividends). Moreover, no one is going to buy IVP’s stake on the secondary market if it doesn’t see a reasonable path to exit."

    I'd like to add that Said would rather spend money like a drunken sailor on frivolous lawsuits than appeasing his investors who went to bat for him 25 years ago. Good Job Mr. Hilal, you've unofficially become public enemy #1. And for anyone who wants to know what he and his incestuous executive team are making, just Google Applied Medical SEC S-1 Form. You will all be blown away
     
  9. Anonymous

    Anonymous Guest


    So the executives that take all the risk for running a company are bad people when they make a lot of money? That's all you're taking away from reading an SEC filing? How much do you think the executives at Covidien or JJ or whatever company you're at right now are making?

    If it weren't for people like them, you wouldn't have a fucking job. So shut the hell up and stop sounding like an idiot.
     
  10. Anonymous

    Anonymous Guest

    So because you run a $400M company, you're entitled to the same compensation as the CEO's/executives of MULTI-BILLION dollar companies like JNJ/Ethicon & Covidien/Medtronic? Get the hell out of here and try that with someone else.
     
  11. Anonymous

    Anonymous Guest

    Hmmm, that's a good point. If executive compensation was tied to the amount of revenue/sales someone in the C-Suite was responsible for, the amount of employees that CEO oversees, etc, then CEO's of Fortune 500 companies SHOULD have higher compensation. But I know for a fact there are CEO's of Fortune 500 companies not making the kind of coin your CEO and his cronies are making. No wonder he doesn't want to sell.
     
  12. Anonymous

    Anonymous Guest

    I'm saying if it's your company you can pay you and your executive team what you want. There's no law that says they can only make $XXX because they're of a certain size. Why is that so fucking hard to understand?

    You guys are unreal. Quit worrying about the people that are providing you that job and worry about going out and taking care of yourself.
     
  13. Anonymous

    Anonymous Guest

    At least JNJ's executive team come from prestigious graduate programs from world renowned universities/institutions. Also, JNJ provides one of the best dividend returns on the DOW if you look at their P/E Ratio. Your CEO wants to keep the money all for himself and his family at the top. Here is a quote from the SEC filing Applied submitted in 2012 before they withdrew it:

    "We do not anticipate paying cash dividends, and accordingly stockholders must rely on stock appreciation for any return on their investment...... Instead, we anticipate that all of our earnings, if any, in the foreseeable future will be used for working capital and to support our operations."

    Since Applied Medical does not pay it's employees very well, mandates that surgeons pay non-refundable deposits to go to its courses, doesnt "wine and dine," etc, one can surmise from the above statement that Mr. Hilal would rather keep that money for himself and those around him. HIS words, not mine.
     
  14. Anonymous

    Anonymous Guest

    Read the S1/A-Amendment 5, a great resource for understanding Applied's management ( if you know how to read between the lines). "We look for mettle, drive, intellectual prowess, heart and curiosity, in that order, and with lesser concern for education, experience or expertise". That explains why some employees who are in management positions don't even have college degrees and only few of them have graduate degrees.

    The last reported total compensation was $9.5M (p. 119) in 2012. No wonder they refuse to provide liquidity to IVP after 25 years.
     
  15. Anonymous

    Anonymous Guest

    THEN DON'T FUCKING WORK THERE? Why are you getting your panties all wadded up? Who the fuck cares what they make? It's not your fucking company. It's the owners company. He can do whatever he wants. Nobody has to ask a pussy like you. If you don't like it, show them who's boss and take a walk.

    Why does everyone get on here and fucking complaing complain complain? If you don't fucking like it, do something about it. Holey Fucking Shit! You guys all sound like a bunch of fucking kids. Man up and go find something that makes you happy.
     
  16. Anonymous

    Anonymous Guest

    Great point on course fee's. For instance when the Gelpoint was first rolled out and started courses it would have been helpful to be able to sign up colorectals and their proctoring students without a fee. The reason why is that by the rollout of Gelpoint Covidien already have a jump with the Cill training the docs. With the Gelpoint we finally had a product that was clearly better but the barrier of Surgeon and staff loyalty could havebeen easier to overcome if they could have attended a single incision CME workshop for free. I know that it doesnt seem like much however it increases attendance and product usage. The courses are one of the best assetts for the sales side.

    Medtronic brings heart into the equation and their powerful business relationship s with them. If the boss reads the threads then perhaps he will reassess his policies to favor the sales side of Applied.
     
  17. Anonymous

    Anonymous Guest

    Why would Bruce Springsteen read the threads?
     
  18. Anonymous

    Anonymous Guest

    If he doesn't, I'm sure the big man does. No wait, he's dead........ Just like Applied!!!
     
  19. Anonymous

    Anonymous Guest

    "You can't start a fire, worrying about your little world falling apart. This guns for hire, even if we're just dancing in the dark."

    Applied isn't dead its only lacking movability by those being obstructionist to constructive criticism and company improvement.