Ann: Appendix 4C - quarterly, page-104

 

Hello Xistre

Thank you for looking at the issues I raised … it is longpast due that we all looked in a global sense at the core issues

           Approx. 10 years ago we were led to believethat there was a great need in the patch market for a solution to the needs ofhole-in-heart kids ... Turns out that the initial product offering was notsufficiently tailored to the surgeons’ needs. Years of non-sales followed. Presentday we have a product for this purpose which is correctly sized and thicknesscontrolled, with a history of successful use BUT sales are NOT increasing.Something is fundamentally wrong at the point of purchase decision.

·        Vascucell is the same … seems to be a greatproduct BUT except for a core group of on-side surgeons market share is NOTgrowing

·        Going back approx. 3 years or so we were givenlots of background stories about how the efficiencies in our factory were dramaticallyimproved and, for example, by making the hole-in-the-heart patch smaller thecosts of manufacture were very very good (= competitive). News andbackgrounding from our factory has been sadly lacking for a couple of yearsnow.

·        About 4 years ago we had a USA sales forcewhich I thought was an embarrassment … that crew seemed to be all suddenly “notthere” … we had distributors appointed all over the world but sales did notseem to arrive … Typically in high-tech industrial products it is highlyskilled professional sales staff that break through with a new product … weseem to be doing this with a small sales staff for our new 3D product, but whatabout the rest? Europe doesn’t seem to be served at all and distributors arejust the usual ineffective order-takers. India is an embarrassment in itself …there at day 1 and gone at day 2. What is happening in China.

·        What has been happening with the outputexpected from the highly expensive professional hired last May to processapprovals? … Australia TGA approval was expected in July. What happened?

·        Now we have very recently hired a new staffmember at great expense . Chief Medical Officer … of what? …

·        It is obvious that Admedus is not serious aboutgrowing Adapt … they are padding out the organization with people whose outputis to facilitate TAVR … blue sky.

·        I heard that our great “breakthrough” into ahospital group purchasing setup was such that it was Admedus and 1 othersupplier, and yet nothing happened. Why? Obviously the system didn’t care aboutour higher-priced offering. What are our skilled field staff doing about this?

The blue sky of TAVR is sucking us dry just as vaccines usedto do … at the very least we-who-are-paying need much much more news about allaspects.

Sales effort is not up to scratch.

Certainly distributors are proving to be just order-takers... and what happened to India? ... and MENA? ...
My personal background is in professional sales of high tech industrial products ... I find Admedus's inadequate efforts so very frustrating.
D