I started in sales in the office equipment arena making 50 cold calls daily. This is by far the fastest path to a hard knocks’ education in sales. If you don’t close the deal today, one of your competitors will be banging on the same prospect’s door tomorrow. As the newest member of the team, I had no access to incoming leads. I quickly learned that it’s a numbers game - 35 cold calls led to a close. Aha moment! Within 9 months my pipeline and closures rate prompted my manager to advise me to stop cold calling and just follow up on leads - unheard of in this industry! The phrase – “luck is where hard work meets opportunity” sums up how my path shifted to medical sales. At the insistence of a recruiter who phoned into the office on a day I normally would not have been there, I reluctantly checked out Abbott Laboratories’ websiteAfter a number of successful years with Abbott and a promotion, once again hard work ran into luck. Another recruiter contacted me about Cepheid, an unknown company in the molecular diagnostic space. The Director of Sales at the time? The same person who hired me at Abbott! I joined this exciting rapid growth company whose mission was to democratize the field of molecular diagnostic testing (PCR) that delivered highly accurate results for serious infectious diseases in hours versus days. The organization grew rapidly and in 6 years I climbed from Sales Rep to Manager, to Director, to VP of Sales for North America, studying the likes of Jim Collins, Peter Drucker, and Simon Sinek along the way. Standing on the shoulders of giants, I was fortunate to receive multiple President’s Club awards. During my ascent through the leadership ranks, Cepheid grew to become the dominant player in the industry. Summing up my 12 years at Cepheid - when you have great leadership, a strong work ethic, a dynamic culture, and innovative products in an environment where everyone feels that they are part of something special, it is a powerful model for success. You can’t put a price tag on the education that comes from that type of experience.After Cepheid was acquired by a large conglomerate, an opportunity arose to transition to another start up with great leadership, a dynamic culture, and an innovative product that improves patient care. I jumped at it. As an Area VP of Sales at Magnolia Medical Technologies, I was once again able to have fun building a team and working with great people to penetrate a market with new and innovative technology!Sales Leadership, Medical Device Sales, Area Director, Health Systems, Distribution
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Area Vice President Of SalesMagnolia Medical Technologies Nov 2019 - Sep 2023Seattle, Washington, UsMagnolia Medical Technologies develops, manufactures and markets innovative blood collection devices that significantly improve the accuracy of critical laboratory tests. Reported directly to the Chief Commercial Officer. Responsible for executing on the sales strategy inclusive of customer acquisition, sales execution, sales process, accurate sales forecasting and funnel development. Selected Responsibilities and Achievements:> Recruited and hired team of 10+ sales professionals. Drove revenue growth through inspiration, encouragement and enablement while building a culture of predictability, accountability and consistency.> 50%+ Y/Y revenue growth.> Led sales strategy and negotiated and secured new contracts with multiple IDNs and maintained key executive-level relationships. > Managed the company's largest health system customer, Mercy Health (Saint Louis).> Served as a member of the Leadership Team collaborating cross-functionally with Operations, Marketing, Clinical and Engineering to drive organizational productivity and commercial strategy.> Inaugural President's Club award winner. -
Senior Director Of Sales, Pacific RegionCepheid Jul 2016 - Nov 2019Sunnyvale, Ca, UsDue to successes in prior market and pre-acquisition strategic positioning, recruited to lead an 8-member sales team and drive revenue of all Cepheid products into health systems and independent hospitals in 6 states. Used a value-driven approach in developing team with sustained coaching, feedback, stretch assignments and support. Selected Achievements:> Led team in earning #1 ranking out of 8 regions in 2017 and #2 in 2016 and 2018. Earned President’s Club in 2017 and 2018; coached 2 reps in achieving President’s Club 2 years. > Captured multimillion-dollar contracts with Kaiser (2017-21 facilities) and Dignity Health (2018-43 facilities). -
Executive Director, Non-Acute Care MarketsCepheid Apr 2014 - Jul 2016Sunnyvale, Ca, UsNewly created position to launch the non-acute sales team, reporting to the EVP of North American Commercial Operations. Created market entry strategy and business plan for non-acute markets. Negotiated and closed multimillion dollar deals with LabCorp and Quest. Negotiated distribution agreements with McKesson, Henry Schein, and Medline. Set up outsourced telesales function to boost prospecting effectiveness and rep efficiency. Recruited top performers for newly formed team: Sales Director, Director of National Accounts, Director of Distribution, and sales representatives.Selected Achievements:> Grew revenue from $9M to $30M in 2 years.> Led team in closing $7M deal with LabCorp and $3M deal with Quest.> President's Club award winner. -
Vice President Of Sales North AmericaCepheid Jan 2013 - Mar 2014Sunnyvale, Ca, UsReported to the CEO/COB. Managed organization of 60 people with 6 direct management reports: 4 Regional Sales Directors, Field Technical Support Director, Director of Distribution/Non-acute Markets, 39 Sales Representatives, and 14 Field Technical Support Specialists. P&L responsibility for $220M business unit. 20% Y/Y test volume growth. Set record for instrument sales in 2013. Initiated expansion into non-acute markets. Created sales team expansion plan. Attended and presented at senior executive team and board of directors meetings. Planned and emceed National Sales Meeting.Selected Achievements:> Created strategy and infrastructure to support high growth and new market entry in 2013 with $40 million in test volume growth (20%) and record instrument sales of $20 million. > Retained 100% of accounts by crisis management of manufacturing backlog and high product demand. > Transformed sales strategy from transactional to complex sale generating immediate top line performance improvement and aligning with market shift from pay for service to a bundled pay business model. -
Director Of Sales, West RegionCepheid Jun 2010 - Dec 2012Sunnyvale, Ca, UsJoined the Company as a Sales Rep in a bottom-ranked virgin territory with success leading to promotion in 2.5 years to Director of the 14-state West Region with oversight for 8-12 account executives. Coached and trained team on molecular diagnostic instruments and assays, account strategy, penetration, sales presentations, and both consultative and solutions-based selling. Led team that created 2013 sales comp plan; member of team that refined pricing model and launched new CT/NG and GBS products. From 7/2012 operated in VP and Director roles concurrently. Drove adoption of Salesforce CRM throughout the West Region. Selected Achievements:> Transformed an underperforming team into sustained top performance across multiple products and metrics with numerous members earning promotions and President’s Club honors. > Won President’s Club 3 years; led team in earning additional accolades including: Region of the Year (2011); top region for reagent growth (2011, 2012); #1 region ranking for total capital sales (2009, 2011). > Closed Cepheid first contracts with IDN facilities at CHW, UHS; negotiated sole source agreement at Adventist IDN with 17 hospitals and 33 affiliates. > Generated $1+ million in recurring reagent revenue at Kaiser Reference Laboratory. > Earned #1 region ranking in 2010 on 3 metrics—adoption of C.difficile assay (69% account penetration), MRSA growth (35%), and Infinity fully automated platform placements. -
Sales RepresentativeCepheid Jan 2008 - Jun 2010Sunnyvale, Ca, UsSelected Achievements:2010 > 170% of YTD capital goal when promoted to regional manager.> President's Club award winner.2009> Closed deals in IDN facilities Cepheid did not have contracts with (CHW, UHS).> Closed deal at Kaiser Reference Laboratory resulting in a $1,000,000+ reagent trail.> Closed sole source agreement at Adventist IDN – 17 hospitals plus 33 affiliates.> #1 in capital sales in western region, 112% of capital goal.> President’s Club award winner.2008 > Hired to take over virgin sales territory. -
Immunochemistry Product Specialist-Ca, Az, NvAbbott Jul 2005 - Dec 2007Abbott Park, Illinois, UsRejoined the company after 2005 consent decree resolution and promoted to drive revenue in a mid-performing territory for clinical chemistry and immunoassay capital equipment sales in the hospital and reference lab markets. Indirectly supervised, motivated, and coached 8 account execs in multiple product portfolios spanning 2 major lines. Selected Achievements:> Recognized with President’s Award for closing Sisters of Charity group of 9 hospitals totaling more than $20 million in new business over 5 years.> Closed over $1.5 million in capital equipment and $4.5 million in new reagent business in 2006 that included Preferred Vendor status with Catholic Healthcare West with 42 hospitals. -
Area Account Manager-Southern California TerritoryAbbott Dec 1998 - Jun 2001Abbott Park, Illinois, UsHired to manage capital equipment and reagent sales in clinical chemistry, hematology, immunology, point of care and rapid products to IDNs, hospitals, and reference laboratories. Selected Achievements: > Inherited territory performing at <60% of goal in 1998. Finished at 110% of goal in 1999, moving from 69th national stack territory ranking out of 71 to 35th out of 71 in 1 year. > Closed over $400,000 in new reagent business in 1999 and earned top ranking for 10% growth. > Closed over $1 million in capital equipment in hematology, chemistry and point-of-care.
Keith Stapp Education Details
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Uc Santa BarbaraCommunications -
Uc Santa BarbaraCommunications
Frequently Asked Questions about Keith Stapp
What is Keith Stapp's role at the current company?
Keith Stapp's current role is VICE PRESIDENT of SALES, SALES DIRECTOR: Sales Strategy | Revenue Growth | Team Building | Corporate Accounts | Negotiation | Market Expansion | Strategic Partnerships | Cross-Functional Collaboration | Forecasting | CRM.
What schools did Keith Stapp attend?
Keith Stapp attended Uc Santa Barbara, Uc Santa Barbara.
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