LOI Medical through difficult times. Situation at the beginning of 2013 o Stable business based on hospital sales and sales of consumables for HOTMAN.

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Presentation transcript:

LOI Medical through difficult times

Situation at the beginning of 2013 o Stable business based on hospital sales and sales of consumables for HOTMAN system o Affected by crisis, but still in good financial situation

THE CHANGES Due to the crisis o The total health budget decreased by 25% in Euro compared with 2008 o The total hospital budget decreased from 60% to 40% out of total health budget o The salaries in the hospitals increased

THE CHANGES September 2013 o Due to a scandal in the ministry of health, it is decided that no powder hemostatic will be bought by the emergency departments

THE CHANGES December 2013 o A change is made in the reimbursement of HOTMAN system o The result is that HOTMAN can be reimbursed only for day hospitalization

THE CHANGES January 2014 o The new contracts between hospitals and health insurance system are postponed till June o It means less money for hospitals

THE EFFECTS First quarter 2014 o Total sales of the company amounts: 2.000Euro !!!

MEASURES o With hospitals complete blocked, we started to approach new markets for our products o Restructured the company according with the new market realities

DAMAGES o Lost of employees o Lost the participation in Hemo Sapiens US o Stopped all investments and future plans o Sold one piece of land to cover the bank

ACTUAL SITUATION o The turnover in 2015 is forecasted to reach 200k Euro o We got partial reimbursement for SaltMed for children o About half of the sales comes from outside the hospital sales

MY CONCLUSIONS o There is no safe side – always important changes may appear o It is important to be focused on solutions and to not die together with the dead business o Be aware if there is a real problem or just the EGO which doesn`t want to die

MY CONCLUSIONS There is death, but the rebirth is its next step!