Preparing a medical device maker for its next wave of growth
37
Improvement opportunities identified for management
41.7%
Return on investment from new portfolio
6.6%
Increase to operating profit margin
At a glance
Client
Mid-size medical device maker
Industry
Life sciences
Our role
Help sustain growth plan
Our solution
Identify 37 growth opportunities
Our team helps medical device company plan for sustained success
Scenario
A mid-size medical device company needed help to plan sustained post-COVID growth through aligning sales and marketing strategies.
Approach
Through interviews and research into financial and operations data, a portfolio of 37 improvements was created and ranked.
Result
A 6.6% increase to operating profit was identified by the portfolio, from which our team then outlined a prioritization schedule for realization of the profits.
Scenario
Medical device firm seeks to continue high-growth plan post-COVID
A mid-sized $200 million medical device company with 34% operating margin was grappling with disruption while in parallel planning how they would preserve their track record of double-digit annual growth rates. The company sought to better understand their customer’s needs, better align sales and marketing strategies/tactics as well as evaluate current state tools and technology.
Approach
Grant Thornton identifies 37 growth opportunities in five weeks
In five weeks, the team conducted 44 internal and external interviews, performed research, and analyzed financial and operational data to develop insights and identify a portfolio of 37 improvement opportunities for management across strategy, operational excellence, tools and technology, and people and culture. Grant Thornton led a two-hour facilitated session with management to rank the identified opportunities by impact and feasibility of implementation.
Result
New portfolio describes plan for +6.6% operating profit boost
Management classified 65% of the portfolio as both high impact and high feasibility. Grant Thornton further modeled the portfolio based on the management’s prioritization ranking to evaluate and quantify the profitable opportunity for management. The portfolio was quantified to represent to represent a 6.6% increase to operating profit and an ROI of 41.7%. This valuation was inclusive of an applied conservative discount for management’s confidence. Our team then designed a short term “quick win” and longer term 36-month roadmap to enable Management planning, investment and execution.
Connect with our team
Zara Muradali
Head of Life Sciences Industry
Grant Thornton Advisors LLC
Principal, Tax Services
Zara Muradali is the Head of the Life Sciences industry and a Tax Principal based in the Boston office.
Boston, Massachusetts
Industries
- Life Sciences
- Healthcare
- Technology, Media & Telecommunications
- Private Equity
Service Experience
- Corporate Tax
Content disclaimer
This Grant Thornton Advisors LLC content provides information and comments on current issues and developments. It is not a comprehensive analysis of the subject matter covered. It is not, and should not be construed as, accounting, legal, tax, or professional advice provided by Grant Thornton Advisors LLC. All relevant facts and circumstances, including the pertinent authoritative literature, need to be considered to arrive at conclusions that comply with matters addressed in this content.
Grant Thornton Advisors LLC and its subsidiary entities are not licensed CPA firms.
For additional information on topics covered in this content, contact a Grant Thornton Advisors LLC professional.
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