According to PricewaterhouseCoopers’ quarterly report on life sciences deals, there were 19 M&A transactions in Q1 2014 worth $4.7 billion, similar to the previous quarter when 16 deals worth $4.76 billion were conducted.1 Particularly in the orthopedics device manufacturing realm, we’ve seen some significant gobbling of agile organizations by mature companies with wide distribution and sales networks.
We recently worked with a global device company that acquired a smaller, very nimble manufacturer. In order for the deal to go through, the smaller company was given very specific goals to achieve, including fiscal spending goals, regulatory hurdles to achieve, and workforce redundancy decisions. Once the acquisition was complete, there was a new challenge: merging the two disparate quality systems and related documentation. Senior management took the opportunity to fold in a branding initiative to the document updates, to ensure all product labeling reflected the new identity of the merged companies.
Some of their challenges included:
- Their existing employees were busy keeping the business going day to day and didn’t have time to dedicate to an efficient update process.
- “Crowd sourcing” the document updates across the organization resulted in inconsistent results and delays.
- Existing staff lacked exposure to best practices and therefore could not improve the documents while simultaneously updating them.
Fortunately, they called us for help. We work with recently merged companies struggling to align their quality systems, documentation and product labeling. We were able to quickly identify a sufficient number of appropriately trained resources for this critical, short-term project. Our network of industry contacts and our Balanced Teams approach enabled us to place the right resources in the right places for success, at a fair price.
A more senior GCI documentation specialist assisted in the revision of the existing SOPs to incorporate best practices from the two organizations and the industry at large. Checklists and templates were implemented to ensure consistent and thorough alignment of documentation and branding. Our team of US-based, native English-speaking technical writers worked from our bricks and mortar offices to efficiently remediate documents and issue change requests in the clients’ document management system, resulting in the unification of the two quality systems. Best of all, GCI’s involvement allowed the resources originally diverted from their normal job duties to return to their posts, ensuring product would continue to be developed and launched timely.