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.
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