Merger and Acquisition Management of a Pharmaceutical Seller
Centric was brought in to manage and facilitate the integration of the new Pharmaceutical division as quickly as possible, while ensuring acquiring company standards were consistently followed.
The Business Need
A major distributor of pharmaceutical medication and related items acquired an outbound telemarketing seller of generic and branded pharmaceuticals. This acquisition resulted in a further diversified sales force and increased sales volumes resulting in larger purchase and sales based manufacturer awarded rebates and chargebacks. In order to leverage the above mentioned rebates and chargebacks, The acquiring company needed to integrate the acquisition’s warehouse management system, general ledger, customer database, and sales/returns processes into the Pharmaceutical Business.
Insight from Centric
Centric was brought in to manage and facilitate the integration of the new division as quickly as possible, while ensuring company standards were consistently followed. Extensive analysis, clarification, and documentation of data and processes was conducted prior to integration efforts. A road map was then created to identify required resources and track the development and testing of inter-company interfaces, and associated processes, used to share customer, sales, returns, and purchasing data for procurement, rebate, chargeback, and finance purposes.
A High-Impact Approach
The solution was divided into several Centric led projects. Centric was also responsible for the analysis, documentation, and testing of these projects.
- Created interfaces to allow for synchronized (acquired company and acquiring company) daily and monthly general ledgers for financial reporting purposes
- Procurement of sold pharmaceuticals to help leveraged Cardinal’s high volume contracts
- Calculation and submittal of purchase and sales based manufacturer rebates and chargebacks based on additional volume from the acquired company
- Built a new telemarketing call center to handle additional call volume
- Develop a web ordering strategy for the acquired company pharmaceuticals
- Upgraded acquired company infrastructure technology and technology services to company standards and protocols to support future growth
The acquisition was successful and benefited from a strong working relationship between Centric and client Business and IT Leaders. Pharmaceutical Telemarketing Goals continue to be met and/or exceeded resulting in further investment into the telemarketing segment.