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After being spun off from a major consumer products (CP) company, this $1 billion global medical device manufacturer had gone through a series of acquisitions and divestitures and had seen declining growth for some of its franchises. There were also quality and regulatory issues.
AlixPartners came on board to assess the company’s path forward and ultimately ran three projects: one to carve out the respiratory devices business, one to address quality nonconformance, and the last to reduce costs throughout the organization.
Reducing the drain on this healthcare solutions company involved 72 initiatives across sourcing, distribution center network optimization, direct materials procurement, and productivity improvements, and extending to a global pricing council, workforce efficiency study, and consolidation efforts. This created $55 million in savings.
At the end of the project, the company had seen a 6% improvement in EBIDTA with additional savings identified and key processes overhauled for the future.