Friday Success Story: It Feels SO GOOD When Everything Works Out!

Few weeks ago, we received a request from our client to sell a highly specialized, mobile oncology system.  This client was part of a large health care network and due to consolidation of their services, use of this system was being discontinued. 

This system was unique in both, its design and application.  That being said, it was in pristine condition - clean, working and complete.  You could definitely tell it was loved and cared for by those who used it. 
 
As with all projects, our first step is to establish a market value that is in line with our client's expectations.  Preliminary research indicated there were less than 40 of these systems used by US health care providers.  Not a single system identical to this one was available for sale on the secondary market.  There were no records of these systems being sold or advertised within the last 3 years.  Naturally, these findings made it very difficult to establish a market value and raised a lot of questions.  

This was intriguing because this FDA approved system was highly regarded in the oncology world.  At the same time, oncology equipment is always highly thought after by many medical equipment buyers and resellers.  What gives?  Of course, the answer was right in front of us.  And of course, the dollar sign was the culprit.  Too many zeros were needed to buy it and not enough zeros were returned in reimbursements.  Now it made sense.   

It quickly became apparent that selling this system in US was fruitless.  There were not enough providers offering this type of therapy and too many medical equipment resellers offering to take this system off our hands. 

That's right, free of charge, they offered to pick up the system and pay for transporting it to their location.  This proposal was unacceptable because this system was portable, did not require de-installation labor and frankly, our client wasn't looking to give it away.
 
Given these bleak scenarios, we decided to engage the European and Middle East markets.  The reason we initially excluded them was due to high cost of transport.  This system was not big enough to occupy an entire container.  It was highly specialized and needed a custom crate.  Historically and practically speaking, when custom crating is required for just one item the overall cost of transportation becomes prohibitive.  

Nevertheless, we proceeded and within a few days located five prospective buyers.  One of whom was an authorized European distributor for the manufacturer.  The distributor had a relationship with an oncology clinic that offered several types of treatment therapies.  The clinic entertained the idea of purchasing this specific system for several years, however budgetary restraints always prevailed. 
 

In this instance, due to system being pre-owned and price tag being substantially more palatable, the clinic immediately agreed to a price requested by our client.  Yes, our client set the price for this system and did NOT entertain the "Best Price" option!

Funds were wired, payment processed and we began to coordinate and arrange transportation.  We did rely on our client to gather all system accessories but other than that, it was business as usual for them. 

Our crew arrived on the day of the pickup and ensured the system and all components were securely packed and crated.  It was a very exhausting and long day but incredibly rewarding.

Overall, this project took a few weeks, but in the end our client was very pleased with the monetary value and service they received.  My team was elated because it was a joint effort to locate a serious buyer, overcome language barriers and coordinate all logistical aspects of this transaction.   

And finally, I am ecstatic not just because everyone is happy and I get to go home and enjoy a celebratory glass of wine, but because we

• Delivered what we promised to our client
• Fulfilled our commitment to help health care providers with limited financial means
• Increased our portfolio of international buyers by adding a new relationship based in Turkey 

Happy Friday and Cheers!