Egan Group Case Studies
Case #1 Development Stage Company
A Management Partnership formed with Egan Group members acting as Executive Vice President and Vice President Marketing and Business Development.
The company was at a pre-commercial stage with 510k clearance to market. Over the course of the Management Partnership, Egan Group members, working with company staff, developed a comprehensive business and operating plan including final product specifications, establishment of the pricing and go-to-market strategy, as well as the recruitment and management of a direct sales force and all marketing initiatives. Egan Group members executed the tactical plan, recruited additional full time employees, participated in strategic planning and business development activities and served as advisors to the companys board of directors. We also functioned as the primary liaison with legislative and regulatory bodies, along with pharmaceutical companies to expedite adoption of the companys technology. Lastly, Egan Group was a key contributor to new product line rationalization, designs and positioning.
The start-up plan was crafted to provide for an early-on acquisition exit or for continuance as an on-going commercial enterprise. The latter option was chosen and the Egan Group transitioned on after two years of active involvement and still provides advisory services to the company.
Case #2 Development Stage Company
A Management Partnership formed with Egan Group members serving as COO and Vice President Marketing and Business Development.
The company was in its pre-commercial phase with 510k clearance to market. Upon joining this entity, Egan Group modified current thinking and terminated discussions with a major strategic partner in favor of direct sales and marketing strategies to assure maximum return for the existing investor base. Egan Group immediately strengthened the companys intellectual property position by renegotiating existing license agreements, amending issued and pending patents and installing a process for timely submission of invention disclosures.
Once business and operating plans were finalized, supplier source agreements were renegotiated reducing capital equipment and disposable product costs while securing ownership of proprietary engineering improvements. Creation of the go-to-market plan occurred simultaneously, including a three-year capital equipment placement and conversion strategy, recruitment of senior field sales executive and territory staffing, reimbursement and in-service support tools, as well as marketing and promotional support programs. The product development and expanded clinical applications agenda was also formalized and staffed within six months of our involvement. Egan Group prepared five-year financial models along with a comprehensive strategic and tactical document for securing additional funding resources and reconstitution of the current legal entity. All of these critical activities were expedited in order to achieve the planned exit milestone, acquisition within a 24-40 month timeframe.
Case #3 Growth Stage Company
A Multi-Month Strategy and Implementation Project Engagement with Egan Group
A Fortune 500 medical device company partnered with Egan Group seeking to expand into unserved markets historically difficult to enter due to product shortcomings and lack of requisite distribution coverage. Egan Group members spearheaded definition of product line requirements and prepared comprehensive marketing plans including positioning tactics, pricing strategy and distribution network support. Egan Group also executed the initial phases of tactical sales and distribution action plans working closely with companys newly appointed team.
Case #4 Concept Stage Company
A Management Partnership Agreement with Specific Near-Term Deliverables
A Management Partnership was formed with Egan Group acting in the role of Chief Executive Officer for a very early stage company. Egan Group members worked with the inventor and his advisors to develop a strategy for moving from feasibility validation in the laboratory to proof of concept within the clinical environment. A business plan with detailed financials was developed to support additional fund raising efforts which were led by Egan Group. Egan Group members screened candidates and negotiated a Development and Supply Agreement with a uniquely qualified vendor to expedite design and manufacture of prototype units to allow for timely completion of clinical evaluation phase.
Egan Group Saint Louis, Missouri