Imagine designing a leading-edge “roto-rooter” to unclog arteries, and obtaining FDA approval for the device. Then imagine the pressure of achieving a business plan leading to an upcoming IPO. Now think of the disastrous impact of the inability to ship product because your facilities and processes cannot handle the increased volume.
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Quickly resolving this problem enabled:
- Successful IPO in Fall of 2004
- Sales Growth of 237% in 2005, 50% in 2006
- Sale of the Company for $780 million in 2007
This was the situation in which FoxHollow Technologies, Inc., a manufacturer of medical devices for treating artery disease, found itself. FoxHollow turned to TRG to assist with critical scaling of business processes, while utilizing their own lean internal resources to continue ongoing operations and to expand facilities.
Utilizing TRG’s Innovate 4 ResultsSM approach, we partnered with FoxHollow’s Management Team to rapidly scale capabilities, implement a new ERP system and meet an aggressive pre-IPO timetable.
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TRG contributed to this business success by:
- Leading the design of the operations architecture and ERP configuration
- Developing, testing and documenting efficient, FDA compliant business processes
- Implementing business and ERP changes and resolving transitional issues
- Managing physical inventory as part of the ERP system implementation
Stephanie Kaplan, Interim VP of Operations for FoxHollow stated “We had to implement a new ERP on a tight schedule during a 10-fold increase in production and in time for our planned IPO. The result was perfect. The schedule was kept, the company was minimally impacted during the transition, and the system was set up exactly to handle Fox Hollow's specific needs. That's why I'm a repeat customer."