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Biotech / Medical : GSII - GENERAL SURGICAL INNOVATIONS, INC.
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To: Cody Goebel who wrote (65)9/18/1997 10:27:00 AM
From: Lighthouse   of 211
 
Cody thanks for your response!

I believe the market is out there for these devices, even in their current lmited use. To take just two examples: Guidant stated in their June 3, 1997 press releases that upwards of 20,000 of their hernia balloons, per quarter, are currently being used. (20,000 * 4 * $150 = equals good numbers) And the vascular (SEPS and Saphtrak) market looks set to put up other very respectable procedure numbers. Guidant has a real franchise in the vascular area and will push these developments hard. Having a strong existing base and focused sales force is a whopping advantage for them. Convesely building the same sales force is very, very hard. Leveraging off Ethicon's sales force is the next best thing, but not the same.

GSI needs JNJ's sales force to go toe to toe with Guidant in the hernia market, but has no direct control over their operations, namely speed or motivation. My emphasis on the short term exit srtategies reflected my belief that the quickest way to a pay off was to to somehow circumvent Guidant's current lead in the field.

Like you I would prefer a long, slow upward slope to the stock price. Additional devices indications should be fairly easy in terms of getting 510(k) approvals. The tricky part is the sales force and whether all your work is pionerring or not.

Regards,

Jay
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