Financial Overview Corliss Moore Group: Acquisition Integration

lesliecordovan

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CooperVision and Ocular Sciences - Acquisition Integration

The Situation

Acquisition of Ocular Sciences by CooperVision (contact lens and eye care products)

Deal value @$1B (combined entity), global operations (US, Canada, Europe, Asia, Latin America)

Need for rapid business integration, key talent retention, culture integration, expense reduction target achievement, product and sales force rationalization

The Solution

Established integration success measurements with board and senior team via a facilitated 'Executive Summit'

Expense reduction target of $75M (originally $60M)

Product and sales force rationalization target of 12 months (originally 18-24 months)

Established integration project management infrastructure (Senior 'Steering' Team, Project Management Team, Integration - Teams in US, Canada, Europe, Asia, Latin America)

The Results

Completed all operations and support functions integration activities ahead of 12 month target

CorlissMoore principals bring years of senior executive experience - we know and understand the issues faced by boards, management and stakeholders in today's turbulent economy.

Achieved expense reduction of $90M versus $75M target

Completed product and sales force rationalization in 9 months versus 12 month target
 
 
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