This is why he needs to hire some marketing/sales people. Instead of sitting at a booth all day showing a video on loop, he could have been doing something productive for the company. Maybe Medassets will return the favor someday and award Titan sole source. GPO's are important, but you can spend a lot of money on your GPO contracts (2 or 3% of sales) and at the end of the day GPO's do not gaurantee business. They can help with T's and C's and make transactions go through more quickly, but if a surgeon wants a device that isn't on contract, the hospital can still buy it. With a decision as important as a surgical robot, not sure how much a GPO can influence. GPO's are great for products that are disposable in nature, low cost, products that are more of a commodity, where saving 1 or 2% over an entire IDN is a big deal. Titan will need to announce a distrubution plan soon, otherwise I don't see how they will penetrate the market and work deals on a national scale. You need account executives to get capital funding approved, clinical specialists to do the clinical presentations and training, applications team to train the doctors once a system is sold and installed, and a service organization to support the robots and do PM's. Right now Titan has none of this in place. I'm long and strong on Titan but all of this will need to happen before they can sell in the USA, and in Europe as well.
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