A telehealth company had just announced its largest acquisition and needed integration expertise to assist with realizing the strategic acquisition value.
CHALLENGE
The management team had not previously taken on an acquisition of this size and was not prepared with an integration strategy. Executive management recognized the resource constraints on its functional leadership team and the challenges to drive and realize the deal synergies.
APPROACH
An Integration Management Office (IMO) was launched to provide an integration governance, structure and process. Additionally, support was provided to select functions, including Accounting & Finance, HR, IT, and Operations.
The IMO team support included:
The functional support included:
RESULTS
The IMO implementation of a best practice integration process expedited the company's readiness to tackle the integration. Additionally, providing functional support eased the burden of the functional lead's trying to figure out an integration workplan while juggling current responsibilities.
As a result of introducing an integration structure and process, the company was prepared to handle future acquisitions internally.