Post-merger integration of two pharmacy chains
Integrated two pharmacy chains in continental Europe, delivering a smooth transition and almost double the targeted synergies.
With our seasoned consultants leading client teams, we designed and delivered the integration across all functions, with minimal disruption to operations, successfully bringing together competitors into one organisation. The integration ran on target, and far exceeded financial expectations. Today, the client is developing its next phase of growth, with our support.
Context
Our client, a medical devices distributor and owner of a leading pharmacy chain, had agreed a deal to acquire a large competitor chain. In the run-up to the deal being finalised, we were engaged to support the client with the integration planning and implementation.
It would be critical to ensure that top and bottom line synergies were captured without disruption to the smooth running of the businesses. And while forging seamless collaboration and team spirit amongst talent from formerly fierce competitors.
Approach
Our team’s role was to design and oversee the PMO across the various workstreams, and to conduct deep dives into specific topics where required. Drawing on benchmarks and comparisons from our decades of experience, we supported the client teams to rapidly identify synergies and how they would be captured, forging an implementation programme to be launched on day one.
From there, part of our team stayed on to help steer and seamlessly deliver the transition, while helping the company to identify and realise further improvements in a next optimisation round.
Impact
The programme was implemented to plan, and its impact far outpaced estimates, exceeding targeted synergies by 90%. Following the integration, our next wave of optimisation initiatives delivered further bottom line improvements, at a scale matching the first wave’s targets.
Today, the company is the undisputed market leader, and we are now supporting them to look to the next wave of growth.