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[Colin Miller]

Hello, you're tuned into SNiPS, a reoccurring special segment from our ongoing series, Fractals, Life Science Conversations. Bracken is the professional services firm for life sciences and digital health organizations. Our intelligence ecosystem fulfils consulting, regulatory, marketing and analytics, an integrated and strategic approach.

Without breaching confidentiality, can you share an interesting and or unexpected finding as part of a client project?

[Dawn Flitcraft]

Interestingly enough, I don't think it's a particular project. The single component and surprise that always happens is the differences in the sellers and in most cases, the CEOs reactions and or activities post-close and post-sale. It's surprising to me because being involved in the due diligence in the deal making process and knowing that I'll be working closely with the CEO post-close, you try to communicate and explain what's going to happen after the deal is signed.

This is what your organization is potentially going to look like. This is how we're going to work together, create value for a combined organization. I guess what is surprising is you can have those conversations with the CEO, with the executive teams.

Logistically, tactically, you can walk them through how this is going to look and what's going to happen. The thing that you can't convey and being in their shoes is how it's going to feel. In many instances, these are individuals who have grown their companies from the ground up.

It's their baby. They're used to, many times, calling all the shots, making all the decisions. Overnight, you were potentially part of a larger organization. You may now have a boss or a different boss, and there's procedures that you're being asked to follow that you have never done. Again, in my role through the years, even though you try to explain how this is going to happen, when those things do come to bear, having conversations with the CEOs, with the executive teams, and trying to be there alongside of them and ease them through this change is what I like to do and what I excel at. I will tell you, 95% of the time, we get there, and it's a success.

In some situations, that doesn't happen, but for most organizations, the true success happens. Again, it's always a surprise to me because every time there's a deal and you think everybody's on the same page, and this is how it's going to look and feel as a combined team. Once that happens, the feelings and the emotions get into it.

Folks feel a little differently.

[Colin Miller]

Interesting. Yeah, I can see that. Do you almost recommend a CEO coach as part of the process or someone that's walking alongside them?

I wonder if that's something you've done strategically. It sounds as though it is.

[Dawn Flitcraft]

Rather, it's an executive coach, but I think what was unique with the organizations that I have been with, and specifically WCG, is in the deal-making process, there will be many individuals assigned to due diligence activities. Then, obviously, many individuals post-close perhaps carrying on, but very few organizations have an executive or someone assigned to the integration activities. My recommendation, having an individual who is probably not integral or part of either of the legacy organizations, but new and fresh, coming in to help post-close lead through helps to alleviate those situations.

That was the role that I held as Chief M&A Integration Officer, and in growing WCG over the years with 30-plus acquisitions led to that success.

[Colin Miller]

Fractals Snips is brought to you by Bracken and available wherever you get your podcasts. Visitors at thebrackengroup.com or reach out directly on LinkedIn. We'll be delighted to speak with you.

I'm Colin Miller, wishing you sound business and good health. Thanks for listening.