Case Study #03

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Pre-Acquisition:

Revenues: $25-50M; Profit margin: 5-10%

Post-Acquisition:

Revenues (5 years): $50-100M; Profit margin: >30%

Business was a venture (growth equity) backed designer and manufacturer of medical devices for treatment of the precursor to one of the deadliest cancers.

Focused on three major drivers of value:

1. Commercial expansion:
   Initially focused on the US growth, including significant ramp-up of the sales, marketing, reimbursement and customer support functions. Followed by expansion through distribution partners and direct investment in regulatory and reimbursement support in Europe, China, Brazil and Japan.
2. Operational optimization:
   Transfer base manufacturing to more experienced, higher volume, high-quality plant. Optimize local consumables manufacturing into larger facility to allow significant growth.
3. R&D and Clinical development acceleration:
   Focusing on retention of key talent and delivery of critical development and clinical programs and selecting innovation activities for acceleration.