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TOPIC: Clyde Shores - a strategic mistake

Clyde Shores - a strategic mistake 20 Sep 2014 07:02 #2275

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I personally do not know Clyde at all. Never spoken with him. Heaps of folks scolded at him and what is he doing at Cytori.

One of the many "fata morgana´s" of the old management, you might call it. That management included Marc Hedrick who was responsible for Sales before Clyde joined Cytori and spoke those historic words " we can smell the inflection point" in 2009.

Shores certainly cannot be blamed for NOT having a product to sell and not having a sales force to sell with

In 2009/10 Hedrick was himself in Florence introducing the tech to surgeons. Several courses were given to early adopters in Florence, Düsseldorf (at the German Breastcentre) and in Hartlepool by Pud Baskar.

When Hedrick was fed up, he returned to the US and put another surgeon in his place- Eric Daniels, who than set up the Zug European HQ in Switzerland, but who left (a brilliant man really) after he got fed up with Calhoun and Saad.

Shareholders (yes -they had a lot of influence in 2010 and 2011 too) insisted to replace surgeons with sales professionals.

A STUPID recommendation in hindsight, if you are in-timidly aware of the "4+x hours procedure" they tried to sell for breast reconstruction, with a machine which simply was too expensive.

Anyway- the strategic mistake Clyde Shores is solved now- I am sorry for Clyde and wish him all the best...

Clyde W. Shores joined Cytori Therapeutics as Executive Vice President of Marketing & Sales in May 2011. Previously, Mr. Shores served as Vice President of Global Marketing for Baxter International’s Renal Business. Prior to Baxter, Mr. Shores worked for Abbott Laboratories, Amgen, Prometheus Laboratories and deCODE Genetics. During his 9 years at Amgen and tenure with other companies, he developed a fundamental understanding of the potential for cell therapies and devices, the commercialization of innovative therapeutics and the marketing and sales capabilities required to achieve significant revenue growth in global markets. Mr. Shores has 27 years of experience in medical marketing and sales and has been involved in the launch and marketing of multiple innovative medical products. Mr. Shores holds a B.S. from the University of New Mexico in Albuquerque, NM.

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Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:

Clyde Shores - a strategic mistake 20 Sep 2014 08:39 #2276

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From the "original statement"- We can smell the inflection point- , made on November 9 2009, one can clearly learn it was all soft tissue enhancement, of which a lot was planned in the US, assuming Cytori would receive 510K approval for the "risk free" stuff, which as we know, did not happen. The FDA did not want the machine in the hands of US surgeons.... :cry: :yawn: (who could do other things with it......i.e. exactly what clinic chains like Cell Surgical Network etc are doing with inferior and unapproved devices do now- whilst the FDA is being inactive)

Ren Benjamin - Rodman & Renshaw
This is a follow up to that. The inflection point that I think both Marks have mentioned, how do you characterize that? I mean I understand it’s easy to see as far as revenues going up. But what do you need to see prior to that being registered, let’s say, on a P&L statement?
Marc H. Hedrick,
We can smell the inflection point. With my clinical background you have to make a diagnosis in the field what’s holding things back from the perspective of increasing adoption, people buying the technology, putting it in their practice. And driving through-put by the number of consumable sales. But I think the four things that we tried to outline in the (shareholder-)letter on which I will focus now, will contribute in reaching that inflection point. And with this caveat, we can’t predict when it’s going to happen. But we feel confident it will. And we just need to drive as hard as we can to achieve that.
So, number one, is making our customer, physician, practices successful. Doctors aren’t used to selling cell therapy and stem cell related technology. Therefore require marketing and sales support. We’ve done some internal restructuring. We are working incredibly hard, devoting a lot of resources to putting tools into doctor’s practices to make it easy for them and their business. Folks within the practice to sell the technology.
We’ve added a new Vice President, David Oxley, to run our sales marketing group.
Additionally, there’s a clear interest on the consumer side for the technology. So when we have any physician that’s particularly astute in marketing goes out and gives a presentation or gets some media attention, the number of calls that flood the practice almost closes down their phone lines. And so, you really see patients saying, yes I want stem cell treatment X or stem cell treatment Y. We’re starting to see the beginning in Cytori as we develop this of a direct marketing (push-) to consumer approach (pull-), that will grow in scale with the business. And that includes increased media exposure, trying to leverage a focus on local markets and minimize costs initially, but growing that. So, there’s this whole marketing and sales support function that’s been increasing, growing and morphing over time.
The second part of that, is improving the features and benefits of the technology. Perhaps you remember the press release of a few weeks ago, where we put out a major new release of the (Celution) software that’s really geared towards allowing the doctor to have more tissue volume available and cell volume to treat individual patients.
On a practical level that means in a lot for patients, whereas before they could only do one cup size breast augmentation, now they can do two cup sizes, for example. So not only broadening the utility of the technology, but also decreasing the time so it works better in the patient/doctor workflow. And the doctor can basically boost his pay per hour during the day using the technology. It therefore improves the practice economics.
And then there is the ongoing basis to pure graft technology that’s coming out, Celution One, the Olympus version that’s coming. And perhaps things in the future, are all geared towards enhancing the product of features and benefits and its use in the practice.
And two other things to highlight, one I highlighted previously, which is better tailoring the channel model by letting GE do what GE does best, let Cytori do what Cytori does best. And the same with MBA and going direct in places, where maybe we haven’t before and capturing that margin. They’re all important in tailoring that channel model to make it more successful.
And then finally, well we haven’t really touched on it, is our US regulatory strategy. We’re happy that we’re going to be a device. We hope we’re going to be a 510(k). And as soon as we get regulatory approval in the US, then we look forward to launching the Celution family of products in the US where we think demands are already there. So all those things together, I think, drives towards an inflection point. And having the number of people that we have in the field, interacting with the customer, having customers coming to San Diego and taking a tour and seeing the technology, hearing the presentation. All this lead us to the strong belief that inflection point is coming.

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Board moderator and Site-owner. I still regret the day I started analysing the prospects of MacroPore (now Cytori) back in 2004- a left-over from the tech-bubble at that time from the century change in my portfolio- and became addicted to Cytori´s fat cell technology. :cry:
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