From the evolving sequence of events, I assumed there was an ongoing process of consolidation taking place. Part of this process appeared to involve a degree of power-sharing with Medix management that Pfeil disputed. A larger part of the consolidation may be the simple elimination of Pfeil's position. In their 7 Dec., news release the company stated,' ....account management and physician deployment has been transferred from the Cymedix Lynx subsidiary to the Medix parent, reporting to Corporate Operations and Development.' which I took, and take, to mean a stripping of power from Cymedix and an equal consolidation of power in the Medix parent. Of no less significance, the same news release announced the company's first CFO.
Perhaps you may find it strange, in essence, to replace a chief technical officer with a CFO...but doesn't this move precisely address the major complaint you have about Medix? Wouldn't a CFO be much more adept at controlling costs and 'raise[ing the] necessary financing or revenue generating contracts.'
This is my take. You may find it troubling they didn't announce a replacement. Pfeil was already on his way out 9 weeks ago (as I indicated at the time). The company could have easlily filled the position in the interim. I am convinced they chose not to. In other words, I would not be surprised they have no plans whatsoever to replace Pfeil since their focus is to fortify their financial position.
I've no idea if 'time has run out on present leadership'. Countless internet, BtB companies are in dire financial straits as a function, to various degrees, of horrific market forces and management rose-colored glasses. I've no idea where MXR falls in this spectrum. Some may feel Medix' management is inept. Some may feel that when Cisco reports it first earnings shortfall in ~5 years, it's a statement of strength that Medix has survived at all.
So I'll simply respectfully disagree with you: this is a good move in that it clarifies in no uncertain terms that the software can be implemented by those currently at the company and that MXR's laser-like focus is on now squarely on financial performance. |
