YOU ARE STRONGER
We have divided our ambitions into the below statements to highlight why we have established CoopMed, the purpose of it, what factual performance visions we are striving to, and how we want to go about it.
To support start-ups with strong innovations within MedTech and Medical Devices, having developed products that improve Quality of Life of people in touch with the healthcare system, by actively accelerating the resource-demanding sales process
To support more than 20 MedTech start-ups succeeding by 2025, through a sales & marketing structure of more than 30 people, supporting the creation of more than 200 jobs in these start-ups and their associated contract organizations
To establish a cooperative sales organization based on non-profit principles, aimed at supporting non-competing start-ups within selected therapy areas, by adding commercial excellence, distribution knowledge and multiplying the partners own sales resources by a Factor X (the number of startup-partners within a therapy area)
CoopMed August 2020
Sales challenges for start-ups and niche players
Start-ups and niche players often face the same problem, and they do not have the resources required to roll out a new product in Europe, the USA, or elsewhere. Hence, they start to small, to slow, and make costly mistakes.
1. SIZE MATTERS
THE SIZE OF
YOUR SALES FORCE
- Most classic Medical Device products are a part of a treatment regime. Hence, they are part of an assortment and do not have blockbuster potential in their own right
- MedTech products are sold via hundreds of wholesalers, thousands of hospitals, and used by millions of nurses. To succeed, products need to fit into “solution selling” concepts of manufacturers will struggle to get attention on their own.
- A key component of success is the size of the salesforce promoting the treatment regime a product fits into. A vast and stable sales pressure is required to reach the corners of a market. Therefore, the commercialization process is key to success. If not done correctly, even the right products will fail
- In MedTech, you build companies, as the exit opportunity often lies after proof-of-sale at a level of €10-20 million. At this level, the industry is reassured; they can use their sales muscles to take innovative products to higher levels. They are reluctant to experiment with their valuable sales resource.
SOLUTION: You need to join forces to finance the expensive customer interaction
4. DO’ers are required
You need experienced, locally anchored
doing the job for you
2. Sales efficiency matters
Less than 25% of time is likely to be spend in front of customers
- Sales Reps spend most of their time in their car, driving from one customer to the next – unless they have a wide assortment, enabling them to visit more customers in a smaller geographical area
- The larger the territory Sales Reps have, the more time they waste in their car. If you have one Sale Rep in Denmark or a regional state in Germany, less than 25% of the time is likely to be spent in front of customers
- If a message is too narrow or specific for a diagnose area, nurses will often not allow Sales Reps to be received (the door stays closed).
SOLUTION: Join forces to reduce sales regions to a manageable size
3. SOLUTION SELLING IS REQUIRED
The chance of succeeding with a one product approach is limited
- Well-educated nurses and doctors diagnose and treat all aspects of a ‘ ‘patient’s condition
- Nurses have minimal time to talk to company representatives, and often bans have been implemented to avoid inappropriate time spent on armies of Sales Reps. Hence, messages must cover a therapy area and be highly relevant to get any attention
- The large players of the MedTech industry all have a wide assortment to sell. Some focus on a few therapeutic areas in which they want to be a global leader; and others want to dominate a specific customer type like hospitals or homecare with a wide assortment. All have hundreds or even thousands of products, packed in therapy solutions for an individual user group. All have hundreds of sales reps
- The chance of succeeding with a one product approach is limited, and cost of noticeable sales force is more than likely to outgrow revenues.
SOLUTION: You need to join forces to be able to present a product package
OUR TEAM MEMBERS
Together we have 100+ years of commercial experience in Medtech.
Managing Partner & Founder
Europe · Key Accounts
20+ years of experience in Medtech, former SVP at Coloplast (DK, DE), CEO at Vigmed AB (SE), VP at Biotech Pharmacon (NO) and Selection Committee Member at BII a Novo Nordisk Foundation initiative
Senior Partner & Co-founder
Germany · Austria · Switzerland
15+ years experience in Medtech (Advanced Wound Care), former Commercial Manager Woulgan at Biotec BetaGlucans AS (NO), Marketing Manager at MedSkin Solutions Dr. Suwelack AG (DE) and Marketing Manager at Sorbion AG (DE)
30+ years of experience in Medtech, former CCO & VP of Marketing at Quanta System, Director of Marketing at Sofar, MD at Rizzoli Orthopaedics, SBU Director at Coloplast, Sales & Marketing Director at Smith & Nephew, Sales Manager at J&J
20+ years of experience in Medtech, former Marketing Director and Quality Manager at Coloplast (DK), Commercial Director at LiNA Medical (DK), Corporate Marketing Manager at Origio (DK, FR), and Business Development Manager at Knudsen Plast (DK)