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Biotech / Medical : Biomet Inc.

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To: M Goodson who wrote (55)	5/21/1997 1:57:00 PM
From: AARON DIDICH	of 69

Len, et. al.: It has been a while since I last posted as not much was known to me that wasn't common knowledge. Interesting about the raw material supply problems, I had considered that several years ago but more for their platic implant business, Lorenz. I had my world rocked today with news of some insurance issues for reimbursement which would negatively hurt my bottom line. I also was in conversation with an individual who is in the trenches with company sales and it was not a rosy picture being painted. Basically, hospitals and nursing units in surgery are balking at the price of ortho implants and are asking for reduced prices(no great surprise right) but the company does not have outrageously priced implants and have held the line over the past couple of years. Several reps have started to undercut the prices which in some cases means they are selling at a loss not to lose the hospital account but face losing their franchise or shirt in a short time span. I won't stress the negative but be aware that you may not see the same "growth rate" with the next quarter or the one to follow! I have reduced my position and have been writing calls with a strike at 17.5, if it gets called away so be it. Good Luck Aaron

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