Building from the Ground Up: Medical Device Seamless Strategic Carve-Out

Situation

Following the strategic carve-out from a prominent global medical technology company, the newly independent medical device firm faced significant challenges to rapidly establish standalone finance and HR functions. They required experienced HR interim leadership and specialized financial operations support to onboard teams, ensure continuity of operations, and implement efficient financial and human resource systems without disrupting the employee experience. The CEO engaged Growth Operators to manage this complex transition, ensuring swift stabilization and operational readiness.

Execution

• Led interim CFO and FP&A roles, establishing foundational finance processes and building robust financial planning, financial reporting, and analysis capabilities.
• Successfully onboarded a new finance team and HR team, swiftly integrating key hires, including a new Controller, to solidify organizational structure.
• Implemented Concur expense management system, mirroring familiar workflows from the former parent company to ensure seamless finance functions for employee adoption and continuity.
• Introduced and deployed Cube financial planning software, significantly enhancing budgeting, financial forecasting, and reporting capabilities.
• Collaborated closely with the internal HR director to maintain continuity in HRIS, payroll, and onboarding processes, preventing disruption for key stakeholders and supporting employee morale.
• Recommended and supported the rollout of an Applicant Tracking System (ATS), streamlining recruitment and enhancing talent acquisition efficiency.
• Successfully recruited and filled 13 critical roles, rapidly bringing the firm closer to achieving its target operational capacity and strategic staffing objectives.

Results

The medical device company quickly stabilized and established fully independent finance and HR operations, enabling smooth business continuity and strategic growth following the carve-out. Notable outcomes included:

• Efficient transition with minimal disruption to employees, ensuring retention and engagement.
• Enhanced financial transparency and forecasting accuracy through advanced analytics and reporting.
• Accelerated recruitment processes, swiftly filling key positions to support strategic business goals.

Client Success

Growth Operators played a critical role during the carve-out transition, swiftly establishing robust finance and HR operations that positioned the client for immediate stability and long-term success. Our expertise and proactive approach were invaluable in ensuring a seamless employee experience and operational continuity, allowing this client to advance their strategic objectives confidently.