Challenge
This leading provider of managed ocular health services was acquired by an investment firm as a growth platform, along with two acquisition targets in the retail optometry and ophthalmology segments to round out its platform.
Synergetics was engaged to perform operational due diligence focused on cost synergies. Subsequent to operational due diligence, Synergetics was engaged to lead the post-merger integration of the three businesses.
On a stand-alone basis, each of the three businesses had strengths and areas for improvement. On a combined basis, there were clear opportunities for labor synergies in the both front-office and back-office and opportunities for increased efficiency and streamlined performance throughout.
Solution
Synergetics implemented a robust Program Management Office (PMO) to drive the integration including:
- A governance structure with clearly defined processes, tools and an effective accountability framework
- Steering Committee and PMO Working Team review meetings
- Eighteen Working Teams to standardize processes, tools and reports: Sales & Marketing, HR, Information Technology (five sub teams), Operations (eight sub teams), Finance, Organization Design, and Change Management
- Fact-based operational and financial targets
Our six-month implementation effort resulted in:
- A scalable operations model enabled by integrated Sales, Marketing, HR, Compliance, Finance and IT functions
- A streamlined integration playbook was developed to support future acquisitions
