CVG Falling Apart?

The VAD market is destroying CVG, now forecasting a serious revenue miss. Furloughs, possible RIF's, hiring freeze and spending constraints. Where does it end? No wonder analysts were pushing back on Omar at the JP Morgan meeting last week.

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layoffs happening, today, at the Heartware location.

RIFS at Mounds View yesterday.

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  • big layoffs coming on April 22nd...

layoffs happening, today, at the Heartware location.

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  • big layoffs coming on April 22nd...

In Mounds View or external/sales?

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  • big layoffs coming on April 22nd...

This is very specific so do you have additional info on who will be affected?

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Another dud of a quarter for CVG with overall revenue decreasing over 4%.

I'm thinking the Heart Failure and LVAD business should just be blown up and thrown out because all they're doing is dying a slow death and making the rest of the business look bad.

At least there's positive momentum with Evolut and the low risk study. Pro plus coming next year too. My belief is it's less products and more management issues.

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Another dud of a quarter for CVG with overall revenue decreasing over 4%.

I'm thinking the Heart Failure and LVAD business should just be blown up and thrown out because all they're doing is dying a slow death and making the rest of the business look bad.

There were a set of layoffs in CVG in the last two weeks. I don't know if that's it or more are planned.

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Another dud of a quarter for CVG with overall revenue decreasing over 4%.

I'm thinking the Heart Failure and LVAD business should just be blown up and thrown out because all they're doing is dying a slow death and making the rest of the business look bad.

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Imagine selling a pacemaker that doesn't pace because of a software issue.

When will the software update be ready so the issue is corrected? Maybe it's because I'm relatively new in my position but I've experienced a lot more recalls and issues with Medtronic than the company I came from.

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Another Class I recall....

A subset of Medtronic dual chamber pacemakers distributed worldwide between 10 March 2017 and 7 January 2019 under the brand names Adapta, Versa, and Sensia when programmed to a dual chamber mode with atrial-sensing, may experience a circuit error that affects device functionality

Imagine selling a pacemaker that doesn't pace because of a software issue.

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483 warnings letters and pacemaker recalls are the envy of CVG.

Q4 RIF coming in hot!

Another Class I recall....

A subset of Medtronic dual chamber pacemakers distributed worldwide between 10 March 2017 and 7 January 2019 under the brand names Adapta, Versa, and Sensia when programmed to a dual chamber mode with atrial-sensing, may experience a circuit error that affects device functionality

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Fantastic how we try to be on the forefront of technology with iPhones syncing with our pacers but then recall 157,000 dual chambers because they lose the ability to pace. This goes back to the company trying to cut costs but be on the leading edge. Hint: it doesn't work that way.

483 warnings letters and pacemaker recalls are the envy of CVG.

Q4 RIF coming in hot!

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I agree there are problems in CVG but you're still talking about a $11 billion division which drives 1/3 of the company's total revenue. Heartware was a miss but bring down division though?

Will the EPIX Therapeutics buyout help at all?

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There's literally been no discussion about HeartWare in earnings calls or at JPM. The company thinks they can put their head in the sand and the street will forget about it. Wrong.

I agree there are problems in CVG but you're still talking about a $11 billion division which drives 1/3 of the company's total revenue. Heartware was a miss but bring down division though?

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Fantastic how we try to be on the forefront of technology with iPhones syncing with our pacers but then recall 157,000 dual chambers because they lose the ability to pace. This goes back to the company trying to cut costs but be on the leading edge. Hint: it doesn't work that way.

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