10 Strategies for Healthcare M&A Success
- Keep Communications Clear, Consistent and Honest—Providing clear, consistent and honest communications is critical during a merger or acquisition. In the early stages of the transaction, many decisions will not be made yet. Other information might need to be strategically withheld until the right time. In this delicate situation, it is best to be honest and admit when decisions are still in process than to provide answers that might appear deceptive later.
- Empower Interaction and Feedback—Providing online feedback mechanisms for employees and customers/patients empowers two-way communication that fosters healthier relationships during the M&A transition and integration phases.
- Communicate Value to Customers—Customers/patients must understand the value of the transaction, and be assured there will be a seamless transition with no disruption in service. It is important to immediately engage customers/patients and to leverage the deal to build even stronger relationships.
- Deliver Proactive, Ongoing Communications---Communications should not stop after the announcement is made. Proactive M&A communications are needed to transition the organization as decisions are made throughout the integration lifecycle.
- Measure and Report Results—Employees function best when focused on specific goals. Be sure to measure the results of short-term and long-term initiatives, and keep the organization informed about the status of the Integration process to keep it moving forward.
A Clear Roadmap for Integration and Value Creation
When M&A communications are strategically executed, acquirers are able to clearly articulate the value of the transaction, proactively anticipate and address stakeholder concerns and precisely deploy communications to the right stakeholders at the right times to accelerate integration. As a result, organizations executing an M&A strategy should seriously consider making communications an integral part of the deal planning process and a mandatory line item on the budget to protect their multi-million dollar investments.
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