Highly Complex, Strategic Marketing Roles in Cardiovascular & Molecular Diagnostics Businesses.
For multiple decades, Alere was the global leader in point of care innovations within healthcare diagnostics. The Parnassus Group was engaged to find Vice President level strength that represented a unique blend of intellect and multi-sector expertise that is rarely found in one individual leader. Since being engaged with The Parnassus Group, Alere has been acquired by Abbott Labrotories.
The leaders we identified came from the strongest organizations in healthcare, embodied Alere culture, and held deep academic roots in their product spaces.
Alere—$2.5BB world leader with over 10,000 employees
…in point of care in-vitro diagnostics and the market trendsetter when it comes to combining speed and critical treatment information. Their company culture had thrived in the midst of a very aggressive, and often rapidly changing M&A environment. Alere approached the Parnassus Group to identify the strongest talent possible for a variety of complex leadership challenges in their highest-growth categories.
We created a high level analysis of the desired leaders
Working in collaboration with a Global President at Alere, we began a fluid dialogue around emerging needs of the business and the talent options that could fulfill them effectively. These conversations and the corresponding accountability to results meant that both teams saw immediate value in each stage of the process. We reached the conclusion that entrepreneurial skill and disciplined market science were crucial to reaching the organization’s goals over the next three years.
Candidates with disciplined leadership in marketing was essential for longer term success
The relevant market dynamics for Alere were a critical starting point for looking at healthcare companies that had been successful in environments that were equally complex. The team from Parnassus isolated particular examples over the past decade where market leaders had set new standards for care in uncertain reimbursement frameworks. Identifying successful leaders from these examples helped uncover the correlating traits needed in Alere’s environment. Complimentary candidate slates began to emerge. In each case, the leaders that were identified came from the strongest organizations in healthcare but also had investment grade discipline and financial savvy to add to their product launch and life-cycle management skills. These leaders changed the way the company launched products into the market in ways that had corresponding effects on market valuation, ultimately leading to the acquisition by Abbott.
Leadership within Alere embraced the resulting diversity of experience, intellect and intuition that appeared in candidate profiles. The results exceeded expectations in the areas of business agility and cultural fit and leadership additions continue, and ultimately led to an acquisition with a dramatic multiple on earnings.
“With over 10,000 employees all over the globe, it’s very costly when we hire the wrong person, so working with the Parnassus Group to find the right people to come into the organization is just critical, particularly when we are running at a very fast pace.”
Daniella Cramp, Global President, Alere