B2B healthcare SaaS start-up facing industry consolidations achieves critical growth and acquisitions while maintaining customer and employee engagement.
The client, a B2B healthcare technology SaaS start-up with more than $35M in funding and one vertical suite of products, was witnessing rapid consolidation of their B2B clients, and an increasing preference for all-in-one solutions rather than deep verticals.
The competitor landscape was facing significant consolidations, with a view to achieving market dominance and serving the largest, most profitable customers.
The choice was clear: stay the same size and face market irrelevance or begin a strategy of targeted acquisitions to fill product gaps and make and sustain a strong market position.
Integration skills were just one piece of the puzzle: understanding which products and features should be prioritized was critical in a booming healthcare market where making the right choices could create tens of millions in revenue, and making the wrong choices could mean letting competitors develop an insurmountable lead in the marketplace.
The client faced a number of challenges in pursuing the number of acquisitions required to stay market competitive. With rapidly consolidating customers and competitors, acquisition options were declining.
The pace of acquisition also meant that the client, a search fund CEO who had recently acquired the company himself, had very little time to establish himself with the leadership team, build a reputation in the industry, and establish a long-term strategy before needing to complete the first of several acquisitions.
Artemis was brought in to spearhead the pre-announcement, announcement, and post-announcement integration process to ensure minimal employee attrition and maintain market competitiveness. We:
We used our post-merger integration (PMI) playbook to rapidly establish key workstreams and run the communications process by:
We recommended leadership team accountabilities through workstreams and work plans by:
We crafted communications and announcement planning, inlcuding:
Our client was able to rapidly respond to employee questions/concerns before they spiraled into disengagement. Client communications were successfully managed so that clients felt reassured, that their questions were answered in a timely fashion, and that they had an open line of communication with trusted team members. The start-up was better able to scan the market for competitor moves and client moves (consolidation on each side), as well as partners to find market-facing solutions to address client needs, such as a customer advisory board.