Turnaround Case Study - Eight Ingredients for Success Michael Koeppel · May 19, 2016 The Background: (For the purpose of this case study, the company will be referred to as Med_Dev.) Located in the western United States, Med_Dev is medical device company that was run by a father/son team, where the father was the founder and CEO and the son served as president. After 18 years in business, management and employees had an average tenure of nine years. The company also reported sales of over $165 million. Gross profit margins were 42% and the EBITDA was +10% of the revenue. However, shareholders were concerned the company wasn’t growing externally and that their intellectual property was nearing its expiration. Med_Dev had five major products – primarily used in surgery applications – that ac

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