In line with its vision to be the Pacific Northwest’s highest-value system of health, MultiCare Health System made the strategic decision to acquire Rockwood Health System in Spokane, Washington. The $425 million acquisition, which included two hospitals, 87 ambulatory clinics across 32 physical locations, a large physician practice, and more than 3,500 employees, would be the largest in MultiCare's 100 year history. A successful outcome for this acquisition was critical in order for MultiCare to deliver on its organizational promise of world-class care. Given the inherent complexity and strategic importance involved, MultiCare needed a partner to lead the acquisition to a successful close and day one.
Execution is the difference
When it comes to realizing the benefits of acquisition-based growth, execution is all too often where value is destroyed. Yet when done properly, high-quality execution can deliver on the strategic and economic promise of a transaction. Successful execution requires a well-articulated strategy and governance structure, a sound delivery methodology, appropriate resource capacity, and a culture that produces engaged stakeholders from the board to frontline staff.
A strategic partner
Faced with the challenge of executing a complex transaction while continuing to run a $2B+ health system, MultiCare turned to Point B to provide the executive leadership and day-to-day execution expertise required to realize a successful outcome. Leveraging proven methodologies and expert practitioners, we deployed the transition framework and incremental leadership needed to successfully complete critical diligence, transition planning, cutover and post-close transition execution activities.
Sustaining forward momentum
Complex acquisitions include a daily stream of newly discovered information, unexpected challenges and extremely aggressive timelines. To enable MultiCare to achieve a successful close, Point B deployed a transition framework that allowed daily flexibility while maintaining forward momentum. Our transition leaders equipped teams with the ability to rapidly recalibrate to address new information and issues, while continuing to make strategic gains in preparation for close.
A healthy outcome
Point B’s leadership of 100 client team members, distributed across 40 functional workstreams, enabled MultiCare to realize an on-time close and seamless day one, with zero negative impacts to patient care. With more than 3,500 new team members, a significant presence in a new geography, and extended clinical capabilities, MultiCare is now one strategic step closer to achieving its vision.