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 Monash IVF
17 Jul 2006
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Monash IVF is a wholly owned subsidiary of Monash University and provides IVF services to infertile couples using technology developed by the university. Monash IVF operates a world-class facility and is considered a world leader in IVF technology.
The company offers one of the most comprehensive ranges of male and female infertility services available locally, nationally and internationally.
It is the market leader in Australia and its key management team and board members are considered the authority on IVF matters.
The Challenge
The IVF market was becoming competitive with consolidation occurring amongst IVF service providers.
The business was a 100% owned subsidiary of Monash University. The clinicians and specialist service providers to IVF clients were contractors to the company. While management was committed to its clients and staff, there was no link to shareholder value for either management or contracted clinicians.
Influence: With disparate groups within an organisation, any influence for change
needs to be based on facts and analysis, not emotion and opinion.
There was also no growth strategy to enable the business to meet competition challenges and the aggregation of competitors. While a form of partnering had developed, the opportunity to leverage the brand, business process and technology was not advanced.
The Monash IVF management team recognised the growth potential if an appropriate business plan and corporate structure could be developed.
The Solution
DC Strategy was engaged to develop a business plan which would address the key issues of stakeholders’ buy-in, business and network growth, and the sustainability of revenue. A business plan was developed which created a more dynamic business structure. It involved equity participation by clinicians, key contractors and executive staff in a way that transformed expenses into profit and closely tied client sourcing to the company.
An equity structure proposed by the business plan added an ownership factor to founding clinicians, the executive team and primary business drivers.
This created a more valuable business whilst reducing the business risks of the original structure. It also created the incentives required to develop the business to its full potential.
The Outcomes
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The company enjoys more revenue and less expense with stakeholders’ interest aligned to performance, client satisfaction and sustainable profitability
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A restructured shareholding has created a more valuable business platform for growth, acquisition or merger activity
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A rejuvenated and enthused management team and a restructured board is driving the business to well defined objectives
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The Monash IVF Company has become more valuable
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