Joe Coffey

Joe Coffey

Los Angeles Metropolitan Area
1K followers 500+ connections

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Alternative Biomedical Solutions

About

As an innovative and creative Fortune 100 business builder, I have a distinguished career…

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Activity

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Experience

  • Alternative Biomedical Solutions

    Carrollton, Texas, United States

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    Carrollton, Texas, United States

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    Abbott Park, Illinois

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    Waltham, Massachusetts, United States

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    Buffalo Grove, Illinois, United States

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    St. Louis, Missouri

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    Greater Chicago Area

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    Abbott Park, Illinois

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    Abbott Park, Illinois

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    Abbott Park, Illinois

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    Denver Metropolitan Area

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    Iowa, United States

Education

  • University of Wisconsin-Madison Graphic

    University of Wisconsin-Madison

    Bachelor of Science in Economics, with outstanding professors and teaching assistants with tremendous prior and future success, e.g. former Boston Federal Reserve CEO was our Money & Banking TA.

Volunteer Experience

  • University of Wisconsin-Madison Graphic

    Subject Matter Expert

    University of Wisconsin-Madison

    - Present 10 years 8 months

    Education

    Contributing to the College of Letters and Science Career Initiative, including creating an alumni video, mock interviewing undergraduates, teaching virtual class sections, and providing career counsel during networking events.

  • Feed My Starving Children Graphic

    Meal Preparer

    Feed My Starving Children

    - Present 10 years 6 months

    Children

  • Northern Illinois Food Bank Graphic

    Meal Preparer

    Northern Illinois Food Bank

    Poverty Alleviation

    Part of team building activity to construct and prepare for shipment more than 1,000 boxes of food stuffs for the needy families in Northern Illinois.

  • SuccessWorks at the College of Letters & Science Graphic

    Alumni Mentor

    SuccessWorks at the College of Letters & Science

    - Present 10 years 8 months

    Working with students to explore and launch fulfilling careers while helping them make the most of their degrees from the College of Letters & Science.

Projects

  • COMMERCIALIZATION EXCELLENCE

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    I was recruited by the Board and commissioned to restore commercial effectiveness and to build the brand as corporate sales relied upon a single large account. I targeted, approached, interviewed, hired, trained, and mentored a new commercial team and created the infrastructure and strategic plan. Personally delivered sales and branding strategies and achieved a stable pipeline while pursuing Marquee Accounts; restoring sales trajectory in 30 days. The following are a few of the…

    I was recruited by the Board and commissioned to restore commercial effectiveness and to build the brand as corporate sales relied upon a single large account. I targeted, approached, interviewed, hired, trained, and mentored a new commercial team and created the infrastructure and strategic plan. Personally delivered sales and branding strategies and achieved a stable pipeline while pursuing Marquee Accounts; restoring sales trajectory in 30 days. The following are a few of the benchmarks.
    o Immediately refocused the team on high-margin business with improved EBITDA.
    o Tripled pipeline value and doubled sales closing rate within 90 days.
    o Personally closed 12 Marquee Accounts, including Genzyme and Symphogen.
    o Tripled previous year’s contracts and achieved desired customer diversification.

    • These events achieved an award-winning brand within two months of launch and energized the Board, which decided to seek and acquire additional capacity to accommodate the increased sales load. This ultimately led to the successful sale of Gallus to Patheon.

  • GO-TO-MARKET STRATEGY

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    The CEO/Board of Directors challenged me to restore order after the commercial team failed to achieve goals. I set to re-imagine G2M, brand positioning, segmentation, distributor/OEM mix, and talent. I then presented action plans, timelines, and expected outcomes to the Board. Hired a new VP of Sales, removed 75% of the existing sales force, recruited new talent, revamped compensation plans, launched contract models, and selected a 3rd party digital branding partner to reinvigorate the product.…

    The CEO/Board of Directors challenged me to restore order after the commercial team failed to achieve goals. I set to re-imagine G2M, brand positioning, segmentation, distributor/OEM mix, and talent. I then presented action plans, timelines, and expected outcomes to the Board. Hired a new VP of Sales, removed 75% of the existing sales force, recruited new talent, revamped compensation plans, launched contract models, and selected a 3rd party digital branding partner to reinvigorate the product. This resulted in a 95% achievement of the 2021 topline stretch goal, a 482% improvement in margin growth, increased BOD/investor credibility, and led to my promotion to Chief Executive Officer.

  • MARKET EXPANSION

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    The company struggled through the pandemic as the target market was unable to conduct toxicology testing, marking the need for regrowth/evolution. 30 days after assuming the CEO role, I set out to expand services and mitigate risk. I personally gathered the leadership team to conduct a thorough business review, identified gaps/issues and discussed potential solutions. Drawing on ABS’ core competencies, I developed a new strategy to leverage strengths in other financially attractive business…

    The company struggled through the pandemic as the target market was unable to conduct toxicology testing, marking the need for regrowth/evolution. 30 days after assuming the CEO role, I set out to expand services and mitigate risk. I personally gathered the leadership team to conduct a thorough business review, identified gaps/issues and discussed potential solutions. Drawing on ABS’ core competencies, I developed a new strategy to leverage strengths in other financially attractive business segments. These efforts proved valuable as revenue growth increased 8.9% YoY, talent retention/acquisition and organizational trust in leadership improved, and the company was able to attain complete stabilization.

  • NEGOTIATION / COMPETITIVE DISPLACEMENT

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    I was challenged to improve deal ROI after competitive rhetoric and negotiation tactics eroded potential sales growth. I implemented a new negotiation strategy, discipline, and model with training for National Accounts teams. This drove positive ROI with documented $6M margin improvement on an ongoing basis. Subsequently, fundamental negotiation skills training was deployed to the entire POL sales force, resulting in $150K in new business within the first 2 weeks. Documented ROI led BU…

    I was challenged to improve deal ROI after competitive rhetoric and negotiation tactics eroded potential sales growth. I implemented a new negotiation strategy, discipline, and model with training for National Accounts teams. This drove positive ROI with documented $6M margin improvement on an ongoing basis. Subsequently, fundamental negotiation skills training was deployed to the entire POL sales force, resulting in $150K in new business within the first 2 weeks. Documented ROI led BU leadership to approve continued investment to deploy a negotiation model to multiple sales forces in 1H 2017.

  • SALES DEVELOPMENT / SEGMENT RECOVERY

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    I was tasked by the President of the Cardiometabolic Global Business Unit with the recovery of the U.S. sales of an essential molecular product missing sales target. I assessed and created a strategy that introduced new sales skills and techniques, leading marketing and training in deployment. This increased test utilization by 33% within 60 days of implementation. The sales skills development and training model is being rolled out to all other products and marketing teams.

  • SALES RESTORATION

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    I inherited three consecutive years of missed targets (core histology consumables business), which led to an erosion of 5% –10% YOY sales. I then led a multi-functional problem-solving process and evaluated alternatives. Personally reconstructed the compensation plan to reward a CAP sale to motivate sales teams, conducted mid-year sales retraining, and led deployment with monitoring. These efforts stopped the financial “bleeding,” achieved the first YOY growth in over 3 years (Q2 2016), and…

    I inherited three consecutive years of missed targets (core histology consumables business), which led to an erosion of 5% –10% YOY sales. I then led a multi-functional problem-solving process and evaluated alternatives. Personally reconstructed the compensation plan to reward a CAP sale to motivate sales teams, conducted mid-year sales retraining, and led deployment with monitoring. These efforts stopped the financial “bleeding,” achieved the first YOY growth in over 3 years (Q2 2016), and initiated a growth process (2% YOY), which has tripled the base business protected by the CAP model within the first 120 days of the program.

  • SALES TURNAROUND - $386M TO $700M

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    I was recruited by the GM and VP of Sales at Baxter BioPharma Solutions (BPS) after multiple Baxter acquisitions and commissioned to grow revenue and achieve pre-tax margin objectives. I identified marketing, account management, training, and performance management issues. I then built a new go-to-market strategy and executed it within 60 days with a new focus on the US West Coast, EU, and Japan. Delivered a 3 pronged Sales Team Development Program with metrics and reviews. Sales trajectory was…

    I was recruited by the GM and VP of Sales at Baxter BioPharma Solutions (BPS) after multiple Baxter acquisitions and commissioned to grow revenue and achieve pre-tax margin objectives. I identified marketing, account management, training, and performance management issues. I then built a new go-to-market strategy and executed it within 60 days with a new focus on the US West Coast, EU, and Japan. Delivered a 3 pronged Sales Team Development Program with metrics and reviews. Sales trajectory was established and achieved 16.2% CAGR:
    o 2009 – 15% sales increase ($577.5M) and 34% margin increase (was promoted to VP Sales after this year)
    o 2010 – 9% sales increase ($629.4M) and 19% margin increase
    o 2011 – 12% sales increase ($700M) and 29% margin increase

Honors & Awards

  • Vodori Board of Directors (Sept. 2014 - June 2018)

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  • Strategic Account Management Association Board of Directors (May 2011 - February 2014)

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  • Board of Directors, Alternative Biomedical Solutions, LLC

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Languages

  • English

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