Facilitating a Smooth Acquisition Process

Challenge

The Rothman Institute, an internationally recognized orthopaedic practice, was embarking on a major growth period and had acquired two well-known practices, which added 17 new physicians and an additional 70 employees to their staff. Rothman leadership wanted to ensure a smooth transition for both current employees and newly acquired employees.

Strategy

Knowing that open communication throughout the process is key to a smooth and informed transition, Maven created an overall communications strategy that included a toolkit for managers to use when communicating changes to their staff. Included in the toolkit were a key messages document, an employee Q&A document and a timeline of events relevant to the acquisitions. In addition, management and staff were kept informed before, during and after each acquisition with updates and information.

For the staff of the acquired practices, a major question was that of their continued employment.To address their very real concerns Maven created a similar toolkit, which included letters from Rothman leadership and Q&A documents that addressed concerns and the process. Materials were provided in advance of the actual acquisition to ensure that everyone was well-informed from the beginning.

Results

By providing up-to-date information via frequent communications, all employees, old and new, were well-informed throughout the process. Rothman Institute now boasts 16 locations in and around the Greater Philadelphia region and remains one of the region’s top orthopaedic practices.

An additional component of the communications process were the patients of the acquired practices, vendors and referring physicians, as well as patients already in Rothman’s practice. Once the acquisitions were complete, Maven helped facilitate their integration with follow-up communications from Rothman leadership that included a “welcome” letter and recognition of all new employees.

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