Walt Gorsey • MBA,CPA 

The Company was founded by a plastic surgeon who invented and patented a minimally invasive procedure and surgical kit to perform procedures on the face and neck and a video imaging system.

 

Issues - During the first year of operation, the Company had leased a secondary office facility located approximately 120 miles from the headquarters and had hired full-time engineering, regulatory oversight and operations employees.  When I was engaged by the Company they were incurring excessive fixed costs not warranted by their level of activity.

 

MN Solutions:

- The second facility was sub-leased and employee functions were sub-contracted to independent contractors so that services were only used when necessary.

 

- In addition to handling general business operations, I managed the manufacturing contractor, the exclusive sales distributor and the regulatory consultant.

 

Results:

As a result of these changes, operating expenses were radically reduced without diminishing the effectivemenss of the operation and the plastic surgeon was able to focus his attention to product development.