Bold Moves Lead to Exciting Challenges
A large healthcare performance improvement organization has provided services to hospital systems since 1977. Over a thirty-five-year period, the company experienced steady organic growth, leveraged informal processes to support the organization and relied on a strong senior leadership team to make all major decisions.
In 2015, the company executed several bold moves: first, a merger, followed by an acquisition of a competitor. Seemingly overnight, our client had tripled in size. With this new size and complexity, came a new set of challenges. How could the company integrate all these businesses and continue to succeed in a dynamic industry with increasing competition? How could they deal with a variety of cultures coming together to form one company?
Structured for Success
The organization turned to Point B to drive a complex integration with the appropriate amount of structure and discipline to work within their culture. Point B had the right merger and acquisition experience, strong business acumen, and robust project leadership capabilities.
Point B designed and built an Integration Management Office (IMO) to lead the overall integration effort. We developed an operating model with our client’s integration teams and leadership to achieve the following:
- Ran cross-functional and team workshops to plan for 12-24 months of the integration
- Formed partnerships with key leaders to effectively launch initiatives
- Setup governance to create the required transparency, reporting and accountability
- Facilitated critical conversations and effectively led strategic integration projects
- Developed a portfolio of projects required to capture and report on labor and non-labor synergies
The IMO empowered employees and teams to focus on post-acquisition, integration initiatives. Additionally, IMO-led initiatives integrated several key backend office systems. As a result of the IMO, the combined organization achieved both integration goals and met their financial targets.
Point B then led an initiative to transition the IMO structure into a program portfolio management capability and enterprise Project Management Office, which positioned our client to successfully deliver future new investment and growth initiatives.
Through Point B’s continued assistance, our client is on target to realize their goal of being the leading company in their marketplace. They are now in a position to consider their next bold move.