Thornhill Research Inc. was one of Canada’s fastest-growing companies during the pandemic. Now it is one of the fastest shrinking.
in 2020 for its portable ICUs, one of the biggest contracts of the $1.15-billion Ottawa committed for ventilators.The sudden change in circumstancesbut proved disastrous to others. Ottawa’s Spartan Bioscience Inc. failed to execute on a big government contract to deliver rapid COVID-19-testing systems and filed for creditor protection . Some makers of masks and filter material complained the government abandoned them once the need subsided.
“The Canadian contract helped them significantly to elevate their reputation,” said retired U.S. Air Force surgeon-general Charles Green, a Thornhill adviser. At the highest level of the U.S. military, “they’re aware of the company and the product and there’s a significant push coming from people who use it.”
Ms. Gouldie joined in 2015 as chief commercial officer after holding senior roles with IBM, Thomson Reuters and medical device maker Meditech. The South African-born chartered accountant loved the product and mission to bring better medical care to the battlefield. She became chief executive in 2019.
Also, instead of hiring full-time staff like mad to ramp up operations, Ms. Gouldie brought on a “surge team” of contracted consultants, all of whom she had worked with before and trusted to get the job done. That swelled company ranks to 80 people but meant she wouldn’t be stuck with high fixed labour costs after the contract. “It’s not easy to manage a spike of orders then float back down,” Ms. Hasenfratz said. “They’ve done a good job.
We shrinking faster than develop That's all about business now Who got in time developed sold off Must grab a money and run, run!
We shrinking faster than develop That's all about business now Who got in time develop sell off Must grab a money and run, run!
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