The B-case in this two-part series provides a short follow-up to the A-case, and should be used in conjunction with it. The case illustrates the reflections on EndoArt’s cumbersome evolution over the past 8 years and relates the venture’s situation as of 2006. The venture’s investors are increasingly pressing for a return on their investments. Three options are laid out to proceed from this point: strategic partnership or trade sale, grow the firm aggressively and go for an IPO, or make EndoArt a privately-held stand-alone player. None of these options, however, would happen over night. Hence, management needs to identify and focus on the immediate issues to increase the value of the small company.
First, the case provides an excellent vehicle to review the learning points from the A-case.
Second, it invites the student to decide for and discuss the venture’s strategic direction toward an exit. This also requires the identification and analysis of EndoArt’s immediate challenges.
EndoArt SA: Creating and funding a medical technology start-up (B)
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