Situation: In 2000, BioPointe was engaged by TheraSense to build the southeast regional sales team as part of a national sales force expansion and new product launch of the Freestyle blood glucose monitor. TheraSense, a start-up company at the time, developed the first alternate site blood glucose monitor that utilized nanotechnology. In an already crowded marketplace, the company had a limited window of opportunity to get the product into the market.
Objective: BioPointe’s objective was to recruit diabetes sales representatives from competitive companies who were top 10% performers and had new product launch experience.
Action: BioPointe developed a recruiting universe of the top diabetes device companies in the country and directly recruited top talent from the competition. The value proposition was focused around new technology, a first class management team and the opportunity to build something from nothing. There was also an equity position for every employee.
Result: Hired 12 sales representatives in the Southeast which became the #1 region in the country. BioPointe was also engaged to recruit for various positions across the US. Due to BioPointe’s exceptional service, a member of the TheraSense board of directors referred Venetec International to BioPointe which led to the build out of a national sales force for its StatLock product line. TheraSense was purchased by Abbott Labs in 2004 for $1.2 billion dollars.
