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Launching Medical Device Product and Positioning Company for Acquisition
A medical device company approached SalesForce4Hire®, LLC seeking a strategic sales partner w ith experience and success in launching products into the m edical device marketplace. The company, like many in recent years, had been highly focused on staying as non-‐dilutive and capital efficient as possible. They w ere also evaluating innovative sales models to launch their new product successfully, accelerate revenue and increase market traction to attract potential acquirers, w ith the lowest amount of risk. The objective of the medical device company w as to leverage the expertise of a sales partner by employing a “shared risk – shared reward” Sales Prototyping® model. Important benefits of this flexible m odel include: • Ability to capture and utilize real-‐world customer feedback early and to validate and optimize the sales cycle • Quick acceleration of revenue stream • Mitigation of financial and HR risk • Sales team can easily be disbanded in the case of a liquidity event, with no HR risk to client. Or: sales team can be transferred back to client with the blueprint for full scale d eployment • Mutually aligned interest, based on pay-‐for-‐performance, “Shared-‐Risk, Shared-‐Reward” business model Significant increase in company’s valuation at exit
Launching Medical Device Product and Positioning Company for Acquisition
Case Study
The Project As discussions progressed with the client, it became apparent that there were actually two strategic goals to consider. The first option under consideration was to attract venture capital funding for further product development. The second route was to attract potential acquirers that could provide a liquidity event. After SalesForce4Hire, LLC consulted with the client on these options, it was decided that we would utilize our proprietary Sales Prototyping® process, which guides us as we create a scalable sales force and is d esigned to optimize market launch speed while minimizing business and financial risk. This sales prototype would be designed with the agreed-‐upon goal of an acquisition by a targeted acquiring company. By doing this, S alesForce4Hire, LLC partnered with our client to implement a S ales Prototyping® model that mirrored the sales strategies of targeted acquiring companies within our client’s specific marketplace. Acquiring companies will pay a higher value when the products they are p urchasing have proven market traction and can plug in easily to their existing core sales channel. The main challenge was to justify the client’s accurate pre-‐ money valuation and evaluate p otential best suitors for their products. This Sales Prototyping® model would also be used to validate the sales revenue the acquiring company could expect through acquisition of the medical device company and deployment of the new product line to its own existing sales channel. SalesForce4Hire, LLC was brought in with the goal to accelerate revenue and successfully sell our client’s product into the medical device marketplace. Once our custom sales prototype was developed, we employed our Sales Accelerator™ System, which was complete in less than 30 days, to develop and build a revenue-‐generating sales team, which was hired and ready for training in less than 60 days. SalesForce4Hire, LLC built a sales prototype on a small scale to analyze and optimize the following: • Customer acquisition process • Acceleration of market traction • Length of the sales cycle • Messaging focused on economic and clinical value • Market risks vs. rewards; Reimbursement issues • Call points, including: value-‐analysis committees, key opinion leaders, physicians, group purchasing organizations, integrated delivery networks, distributors, etc. • Expected ROI per territory • Increased valuation at exit
Launching Medical Device Product and Positioning Company for Acquisition
Case Study
The Result The SalesForce4Hire, LLC “shared risk – shared reward” Sales Prototyping® model benefited all parties involved in the acquisition of the medical device company. It allowed the medical device company to have a sales model in place that was carefully d esigned and targeted to help determine its product’s ultimate viability in the marketplace. In addition, the custom-‐designed sales prototype placed the medical device company in the b est possible position to be acquired, with fewer b urdens on its acquirer to integrate its product line into their business. This acquisition expanded market presence beyond the United States and into the global market, and placed our client’s technology in the hands of surgeons worldwide. Sales Prototyping® allowed the acquiring company to leverage a proven model, validating the due diligence process prior to acquisition. SalesForce4Hire, LLC aligned its interests in the medical device company’s success by operating a “shared risk – shared reward” business model. If our clients don’t win, we d on’t win. Flexibility is a key component of our unique business model; therefore, companies may choose a fee-‐for-‐service, fee-‐for-‐equity, fee-‐for-‐royalty or a combination arrangement.
Proven Success
SalesForce4Hire® provides custom, outsourced sales solutions for leading Medical Device and Diagnostic companies. Our proven track record of success assembling and d eploying teams will get your products and technologies into the right market and in front of the right prospects quickly and efficiently. Being Fast, Flexible and Focused has made SalesForce4Hire the leader in accelerating sales and cash flow while reducing investment and infrastructure risk. Our customized teams are hired, trained, supported, and deployed within 30-‐60 days. What sets us apart from other CSOs are our proprietary and proven Sales Model Design and Rapid Implementation Process Sales Prototyping® and the Sales Accelerator™ System. Sales Prototyping® enables our clients to design and build a targeted, scalable sales team and support system to cost-‐effectively optimize sales and p roduct strategies while minimizing business risk. Sales Accelerator™ System implements the strategic analysis and best p ractice customer and sales management processes that create highly structured and interactive sales team environments to promote optimal success. We focus on n ew p roduct launches, channel and market expansion, remediation of under-‐performing products, and creating value from non-‐core / non-‐strategic products.
Sales Team Design – Onboarding – Deployment – Management – Mobile Sales Solutions – Operations – Reporting – Centralized Data – Training -‐ Compliance
To learn more, visit www.salesforce4hire.com. SalesForce4Hire is headquartered in Raleigh, North Carolina and is a wholly owned subsidiary of McGeever®, LLC.
Launching Medical Device Product and Positioning Company for Acquisition
A medical device company approached SalesForce4Hire®, LLC seeking a strategic sales partner w ith experience and success in launching products into the m edical device marketplace. The company, like many in recent years, had been highly focused on staying as non-‐dilutive and capital efficient as possible. They w ere also evaluating innovative sales models to launch their new product successfully, accelerate revenue and increase market traction to attract potential acquirers, w ith the lowest amount of risk. The objective of the medical device company w as to leverage the expertise of a sales partner by employing a “shared risk – shared reward” Sales Prototyping® model. Important benefits of this flexible m odel include: • Ability to capture and utilize real-‐world customer feedback early and to validate and optimize the sales cycle • Quick acceleration of revenue stream • Mitigation of financial and HR risk • Sales team can easily be disbanded in the case of a liquidity event, with no HR risk to client. Or: sales team can be transferred back to client with the blueprint for full scale d eployment • Mutually aligned interest, based on pay-‐for-‐performance, “Shared-‐Risk, Shared-‐Reward” business model Significant increase in company’s valuation at exit
Launching Medical Device Product and Positioning Company for Acquisition
Case Study
The Project As discussions progressed with the client, it became apparent that there were actually two strategic goals to consider. The first option under consideration was to attract venture capital funding for further product development. The second route was to attract potential acquirers that could provide a liquidity event. After SalesForce4Hire, LLC consulted with the client on these options, it was decided that we would utilize our proprietary Sales Prototyping® process, which guides us as we create a scalable sales force and is d esigned to optimize market launch speed while minimizing business and financial risk. This sales prototype would be designed with the agreed-‐upon goal of an acquisition by a targeted acquiring company. By doing this, S alesForce4Hire, LLC partnered with our client to implement a S ales Prototyping® model that mirrored the sales strategies of targeted acquiring companies within our client’s specific marketplace. Acquiring companies will pay a higher value when the products they are p urchasing have proven market traction and can plug in easily to their existing core sales channel. The main challenge was to justify the client’s accurate pre-‐ money valuation and evaluate p otential best suitors for their products. This Sales Prototyping® model would also be used to validate the sales revenue the acquiring company could expect through acquisition of the medical device company and deployment of the new product line to its own existing sales channel. SalesForce4Hire, LLC was brought in with the goal to accelerate revenue and successfully sell our client’s product into the medical device marketplace. Once our custom sales prototype was developed, we employed our Sales Accelerator™ System, which was complete in less than 30 days, to develop and build a revenue-‐generating sales team, which was hired and ready for training in less than 60 days. SalesForce4Hire, LLC built a sales prototype on a small scale to analyze and optimize the following: • Customer acquisition process • Acceleration of market traction • Length of the sales cycle • Messaging focused on economic and clinical value • Market risks vs. rewards; Reimbursement issues • Call points, including: value-‐analysis committees, key opinion leaders, physicians, group purchasing organizations, integrated delivery networks, distributors, etc. • Expected ROI per territory • Increased valuation at exit
Launching Medical Device Product and Positioning Company for Acquisition
Case Study
The Result The SalesForce4Hire, LLC “shared risk – shared reward” Sales Prototyping® model benefited all parties involved in the acquisition of the medical device company. It allowed the medical device company to have a sales model in place that was carefully d esigned and targeted to help determine its product’s ultimate viability in the marketplace. In addition, the custom-‐designed sales prototype placed the medical device company in the b est possible position to be acquired, with fewer b urdens on its acquirer to integrate its product line into their business. This acquisition expanded market presence beyond the United States and into the global market, and placed our client’s technology in the hands of surgeons worldwide. Sales Prototyping® allowed the acquiring company to leverage a proven model, validating the due diligence process prior to acquisition. SalesForce4Hire, LLC aligned its interests in the medical device company’s success by operating a “shared risk – shared reward” business model. If our clients don’t win, we d on’t win. Flexibility is a key component of our unique business model; therefore, companies may choose a fee-‐for-‐service, fee-‐for-‐equity, fee-‐for-‐royalty or a combination arrangement.
Proven Success
SalesForce4Hire® provides custom, outsourced sales solutions for leading Medical Device and Diagnostic companies. Our proven track record of success assembling and d eploying teams will get your products and technologies into the right market and in front of the right prospects quickly and efficiently. Being Fast, Flexible and Focused has made SalesForce4Hire the leader in accelerating sales and cash flow while reducing investment and infrastructure risk. Our customized teams are hired, trained, supported, and deployed within 30-‐60 days. What sets us apart from other CSOs are our proprietary and proven Sales Model Design and Rapid Implementation Process Sales Prototyping® and the Sales Accelerator™ System. Sales Prototyping® enables our clients to design and build a targeted, scalable sales team and support system to cost-‐effectively optimize sales and p roduct strategies while minimizing business risk. Sales Accelerator™ System implements the strategic analysis and best p ractice customer and sales management processes that create highly structured and interactive sales team environments to promote optimal success. We focus on n ew p roduct launches, channel and market expansion, remediation of under-‐performing products, and creating value from non-‐core / non-‐strategic products.
Sales Team Design – Onboarding – Deployment – Management – Mobile Sales Solutions – Operations – Reporting – Centralized Data – Training -‐ Compliance
To learn more, visit www.salesforce4hire.com. SalesForce4Hire is headquartered in Raleigh, North Carolina and is a wholly owned subsidiary of McGeever®, LLC.
