Case Studies

For more information, click on a case study below:

+ Commercial Build–Out

Situation Two international ex-US CROs looking to build a commercial presence in the US
Assignment Assess and define an operational go-forward plan for both CROs to expand into the US
Accomplishments
and Results

CRO #1

  • Built first “in-country” ECG cardiac safety lab for clinical trials in their home market
  • Successfully attained US, EU and Latin American Regulatory approval for clinical trial lab in their home market
  • Achieved year-over-year sales growth of 40%
  • 300% increase in new clinical study wins in year 1 -> year 2

CRO #2

  • Led acquisition efforts in the US and EU
  • Secured strategic partnership agreements with two US academic research centers
  • Established regional CRO partnerships in Australia, Asia, Russia and Eastern Europe
  • Established US capabilities to drive marketing, brand awareness and sales efforts

+ Turn–around

Situation Mid-size, $30+MM US CRO with a strong business but poor financial performance
Assignment Conduct a complete company assessment and offer recommendations to the Board of Directors on plan to return the company to profitability
Accomplishments
and Results
  • Conducted and completed a corporate wide due diligence effort over a 4-day period
  • Submitted a report of findings and recommendations to the BoD within 48-hrs
  • Joined the company at the request of the BoD to execute the proposed plan
  • Plan included:
    • 30% decrease in SG&A
    • Redefine business strategy
    • Orderly closure of two facilities
    • Filing Chapter 11
    • Restructuring the company
  • Retained 100% of customers and venders
  • Within 30-days, initiated three new work streams to move the company forward
  • Within 90-days had signed LOIs and APAs from investors to purchase all or parts of the business

+ Improve Business Metrics

Situation Large global CRO; North American Operations >$270MM revenue, losing 20%; annualized staff attrition of >56%
Assignment Conduct a complete assessment of the business unit; create and operationalize a plan to grow the business and return it to profitability
Accomplishments
and Results
  • Conducted and completed a corporate wide due diligence effort over a 30-day period
  • Created a step-wise plan to correct major problems immediately while restructuring the core business
  • Joined the company at the request of the BoD to execute the proposed plan
  • Plan included:
    • 30% decrease in SOPs
    • Redefine operational staffing and line management strategy
    • Restructuring the entire business unit
    • Redefining performance metrics and reward mechanisms
    • Creating new project staffing models
  • Decreased annualize staff attrition to 12% within 12-months
  • Increased revenue to $330MM in 18-months; becoming the most profitable Business Unit in the company
  • Improved quality and customer satisfaction by 88% within 12-months
  • Improved customer repeat business from 63% to 97% in 12-months

+ Successful Exit

Situation Historically successful mid-tier therapeutic niche CRO with poor financial performance
Assignment Develop a plan to return the company to profitability and position it for acquisition
Accomplishments
and Results
  • Grew annual revenue from $38MM to $58MM in 2-yrs
  • Turned EBITDA from -$3MM to +$2MM in 2-yrs
  • Rebuilt BD, Operations, Quality teams
  • Sold company to a strategic buyer in a 90-day sale process
  • Owner shares went from “under water” to a positive ROI

+ Build & Launch Global Business Units

Situation Large global CRO wanted to create and launch two new services
Assignment Develop a strategic business plan to create, launch and manage two new lines of business
Accomplishments
and Results
  • Conducted global market research to establish competitive landscape
  • Created all business processes, marketing materials, develop both businesses
  • BD team and hired a team globally to Established core business operative offices in the US, EU, South Africa, India, Singapore and Japan
  • Launched both lines of business and grew them to $17MM in annual revenue in 2-yrs

+ Acquire, Integrate, Create and Sell International CRO

Situation Parent company wanted to enter the CRO market
Assignment Identify, acquire and merge 3 mid-tier CROs; re-launch an international CRO; position it for acquisition
Accomplishments
and Results
  • Identified three CROs for acquisition, 2 in the US, 1 in EU with operations in the US, UK, France, Croatia and Australia
  • Complete acquisition and integration of all 3 CROs; re-launched a single re-branded international CRO
  • Grew business 22% in 18-months with a contribution margin of 18%
  • Successfully sold the business to a strategic buyer within 120-days