Hologic to sell to Stryker before 2018

Discussion in 'Hologic' started by anonymous, Jul 28, 2017 at 5:36 PM.

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  1. anonymous

    anonymous Guest

    Is Hologic planning to sell the entire company to Stryker or just the surgical division? The chips are falling and it sure appears to be a total company sell or divisional sell off.


    Key takeaways:
    - Current hiring freeze
    - Current spending is on a hault
    -Las Vegas NSM for 2017 (Staying @ the Venetian Hotel) announcement will probably happen in Vegas... It's way too fancy for a standard Hologic NSM
    -Fired the surgical president (2 years in role) for a new Stryker president
    -Leadership team is has been extremely quiet
    -Quotas are so high, not many Territories are getting paid
    -Turnover is at an ALL TIME HIGH (not just reps but internal folks too)
    -Lots of District manager changes

    Totally Smells like a sell and certainly feels like a sell!!! Buckle in, it's going to be an interesting year end for Hologic and or Hologic Surgical!!
     

  2. anonymous

    anonymous Guest

    If you're currently working for Hologic in the surgical division and you're not aggressively looking to get out ASAP, you're one of two things, idiotic or oblivious. Without a doubt the worst sales organization I've ever been a part of. Everything you've stated here is spot on and actually makes a lot of sense. Do yourselves a favor, get out of this sinking ship, its taking on water very very quickly.
     
  3. anonymous

    anonymous Guest

    Interesting thought and valid points, but not sure Stryker would be interested in acquiring the whole company. There really isn't any synergy for Stryker in things like the breast health division or the aesthetics area so they'd have to really WANT to get into those areas since they can't leverage other divisions relationships to drive better sales, growth, etc. Diagnostics would be good for Stryker as another dependable source of predictable revenue. Your first 2 bullets related to hiring and spending are probably due to cost controlling for Q4 numbers to look good for Wall St. Don't forget that another ex-Stryker leader is now President of the Cynosure division. I don't see how your last 3 bullet points would translate into a potential sale.

    It would be a strange move to put the new GYN President in place only to find out the company is selling in the next 2-3 months. I don't think there's an offer on the table right now, but they may be lining up the chips to position a sale soon. If Surgical doesn't grow, Steve will probably look to get rid of it and use the cash to get into a new market that offers 5-10% annual growth. As I'm only a share holder and not an employee, I'm all for it. I'm a bit nervous about the upcoming earnings call though.

    PS- the NSM in Vegas is a big departure from past NSM venues. That's strange, but keep in mind these things are typically planned way in advance to secure a venue of that size. My guess is they secured it last year.
     
  4. anonymous

    anonymous Guest

    You will end up in the endo division of stryker and then it's adios amigos from there! None of you are fit to work for Stryker. Hoorah!
     
  5. anonymous

    anonymous Guest


    Sounds like you work in the endo division.... how much do you make? $70k? We have been making $200k a year and if that changes, your right... we are all outta here.. Ha! You can then take over for us... It might give you more job security. #yourWELCOME

    Keep making your $70k.. hahaha
     
  6. anonymous

    anonymous Guest

    LOL Thats it ?
     
  7. anonymous

    anonymous Guest

    200K every 5 years maybe you illierate retarded troll ho mo.
     
  8. anonymous

    anonymous Guest

    You think SYK endo reps make 70k??? Clearly unfamiliar with the space my friend. The only reason stryker would buy you is to have a full line endoscopic offering so we look better to our customers. You will ALL lose your jobs and just so we are straight...SYK endoscopy reps make well over 300K a year, top rep is bringing in 1M YOY you ignorant dam fool. Stryker is where the big boys play and I will BET all my fat ass income on the fact that 90% of your sales force has tried to work here and couldn't make it past the first interview. Hey, at least when we buy you and lay you off you can put Stryker on your resume. I hear that looks good when looking for a new gig. Good luck to all you talented women's health reps. Lol.
     
  9. anonymous

    anonymous Guest

    Shots fired lol
     
  10. anonymous

    anonymous Guest

    You Stryker morons get more obnoxious each year. Let me pull apart your story one ridiculous point at a time.
    1) "SYK endo reps make well over $300k a year." That's outright BS and you know it. Why don't you man up and tell everyone the math for how much that means the territory generates in revenue per year. We'll multiply that by the number of reps and compare it to documented revenue history by the Endo division to prove you completely wrong. If you said "the top 10% of Endo reps make $300k/year or more" no one would argue.
    2) Please go ahead and bet all of your "fat ass income" (which is most likely less than $140k after you pay your expenses- and don't try to tell me you're in the top 10%) that "90% of your sales force has tried to work here and couldn't make it past the first interview." Wake up. People are leaving SYK left and right to come to Hologic. Not the other way around. We see the toxicity of your culture when your people come here. And by the way, the Gallup isn't hard to pass. Oh yeah, we use something similar here.
    3) "Stryker is where the big boys play". Right. That's why you consistently have some of the highest turnover in the entire medical industry. That's why some of your supposed "A players" ended up here.
    4) "Good luck to all you talented women's health reps" - your products are really different than ours. Those arthroscopy shavers and fluid management system are like nothing I've ever seen before...

    Since you're a betting man, here are some strong odds. You're a newbie at Stryker. You're impressed by the money that the veterans and those who pop in the 10% are making. You sit at the NSM thinking "that'll be me". You're thinking exactly like they want you to think. Exactly how all new Stryker reps think. You'll hit quota 1 out of your first 2 years. Then you'll be gone. And maybe even trying to interview at Hologic. Five years from now you'll look back on your career at Stryker and realize it for what it is. A stepping stone to get somewhere better. As you said, Stryker does look good on a resume. Just ask all of the people who have left.

    #ohsnap
     
  11. anonymous

    anonymous Guest


    Great Post! Couldn't agree more!
     
  12. anonymous

    anonymous Guest

    Except for the fact that only a complete idiot would come to work for Hologic Surgical. It just might be the worst company culture in the history of sales. How many people got fired today? You want to talk about turnover and people leaving Stryker? Have you looked at the Hologic turnover lately? And the only people going from Styker to Hologic are upper management because that’s the people your fearless affair loving CEO wants. Lol.
     
  13. anonymous

    anonymous Guest

    The culture at Stryker is no different than Surgical - the only exception are certain divisions (certainly not all- go read their portion of the forum here) of Stryker are showing more innovation in their product line. But if you think shelf-stocking etc. isn't happening at Stryker on a quarterly basis, you're sadly mistaken. Watch and see what the division looks like under new leadership...and remember where he came from. You're about to see the Stryker culture in-person.

    And you're not informed about the only people coming from Stryker being upper management. Tons of Stryker reps are here across all divisions of Hologic. Do an advanced search on LinkedIn- filter it by putting Hologic as the current company and Stryker as the prior company. You'll see.
     
  14. anonymous

    anonymous Guest

    I used to work for Stryker Endoscopy a long time ago. I don't work for Hologic but am a share holder so I follow the pulse of the company in a few different ways (including this board). Here are some facts from when I was at Stryker:

    - In training, the VP of Sales came in and said (this is a direct quote- it's burned in my memory). "Look to your left. Look to your right. In 12 months at least one of them won't be here." Then he proceeded to play the part out of Glenngary Glen Ross where they say "your job is to get them to sign on the line that is dotted." He had us pull out our business cards- he emphasized it said "SALES" representative and goes on to make sure we understand what that means and the repercussion of not selling every day. I am not kidding on any of this. I was 25 and this was my first med sales gig but even I was thinking "WTF is going on here" and wondering if at some point he would bust out laughing and say he was kidding.
    - The VP of Sales was right. Half of the reps in my training class didn't last 7 months. My training was in May and at the time of the NSM I realized half of them had left or been fired (mostly fired- it was very common for people to be on plan after their 3 month honeymoon).
    - Champions Breakfast vs. Runny Egg Breakfast... if you've worked for Stryker, you know what I'm talking about.
    - Very few reps ever had a territory performing over $3 million per year. At the time I was there, the flat commission rate was 8.25% and you got a 10% bonus of your annual commission for hitting quota. So a rep in a $3 million territory was making about $265k (before paying expenses). You would see the occasional rep who had a $2 or $2.5 million quota blow it out and hit $3.5 or $4 million one year, but here's what's interesting... Other than a select few of VERY veteran reps, Stryker always cut the territory in half when it hit $3 million consistently. Think about that... you build up a territory and are making good money- and if you aren't well-liked enough to be one of the "special" few, your income just got cut in half. You went from having a $3 million territory back to having a $1.5 million territory. So you got punished for being successful. And you're straight commission...
    - I knew of reps who got busted, arrested, and charged for selling sample products and competitive products they took in on trade.
    - There were 2 reps in my region making $700k-$1 million. This was not all from Endo sales, but a combination of selling Endo and Communications gear when the Comm division was just getting started.

    I have worked for a few companies since leaving Stryker. None of them come close to the culture of Stryker when I was there- and I mean that in a good way. I don't look back too favorably on my time there. I find it funny to read the comments of clearly young Stryker reps talking about how much money their reps make. With the exception of a very small company I joined, every other company since I left Stryker has had their top performers making the same amount as the top Stryker guys (and in some cases, more than the SYK guys).

    With age comes wisdom and perspective, or so I hope for some of these folks commenting.
     
  15. anonymous

    anonymous Guest


    But you didn’t insult anyone and therefore this very insightful post is deemed reportable to the mods.