Wednesday, November 30, 2011

Denmat Acquired by Centre Capital Investors and Mill Street Partners

Denmat logo.png
Here is a letter from the new CEO with all the details:
Dear Valued Customer,
I wanted you to be among the first to know that DenMat has been acquired by Centre Capital Investors and MIll Street Partners.  As the new CEO, I am happy to welcome you to the new DenMat.  I know that you'll have some questions, but I want you to be clear on one point up-front: our first prrority is you!  Our dedication to customer service will be second -to-none.
I also want you to know that we are fully committed to expanding our product portfolio.  Better, more efficient and more effective clinical and esthetic smile solutions will support your success as a clinician and ours as a business.  Moving forward, we're dedicated to partnering with professionals like you to provide:
  • The very highest quality products;
  • Extraordinary customer service;
  • An ongoing commitment to the success of your practice.

What I've enjoyed more than anything in my 32 years in the dental industry are my relationships with clinicians like you.  We've got a great tradition here and you can be sure that we'll be building on it.

 

Thank you,

 

Steven Semmelmayer

Chief Executive Officer

3 comments:

  1. Hopefully Denmat improves. In 4 months we had nothing but problems! The materials are bad but the service has been a nightmare! No call backs, can't get out of the LSDP program, bonders break, polyvinyl is bad, etc...

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  2. ATTENTION MR Steve SEMELMAYER
    "Company Needs Some Serious Work”


    Pros

    - Since things are pretty disorganized in the company, there is a lot of ways to help that are both good for the company and your resume

    - Overall, things are always a challenge. If you like solving problems, its a great place to work.

    Cons

    * Signs of Cash Flow problems abound. Constant back-orders on core products. Drastically reduced marketing expenses and incompetent senior management salaries and their fat bonuses.
    VP of sales - No sales forecast has ever been met
    VP of HR - Why have such a huge HR department who are totally clueless. HR used to be payroll
    VP of IT - What a waste of time. No credentials or competency.
    VP of operations - Nice guy but not technically competent for the job.
    VP of finance - lives in lala land
    VP of marketing - will stay there till he gets fired. No added value
    VP of R&D and clinical reserach - The only competent individual that dentists listen to.

    * Lack of coordination between departments. This makes it very difficult to service customers. For instance...
    ==> Sales, Service and Accounting all have different account notation systems that are hidden from others.
    ==> Poorly thought out and executed systems. For example, a relatively botched SalesForce roll-out divorced the sales account notation system from the order system.

    * Low pay, w/ management is not addressing
    ==> Base pay and incentives way too low for equivalent job bands per Monster.
    ==> At least 7 years have passed since cost of living raises were offered as of December 2011. To make matters worse, in March 2011, there was a company-wide pay decrease of pay between 5% and 17%.
    ==> Over the past three years, there have been several rounds of lay-offs.

    * Poorly thought out administrative work-flows.

    Advice to Senior Management

    1) Keep the focus on what matters: rapid, efficient executions.

    2) And raise the pay, especially of the lower paid hourly workers. A 5% pay cut when you are making $100K + hurts, but not as much as cutting 5% from the pay of a single mother making $40K.

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