From Aussie battler to global conglomerateBy Megan Brodie 3 years ago | In Companies, Industry, People
- 3 years ago
19 May 2021
Craig Moore first joined Hahn Healthcare in 2003 as a recruiter, moving on to purchase the business in 2007 with business partner Jeff O’Donnell. While hardly what you would call an overnight success, news this week that Hahn was being acquired by global conglomerate DKSH took the market by surprise – and opens up enormous opportunities for what Moore describes as an “Aussie battler” company.
“The deal offers us scale, experience and opportunity,” Moore told MedNews. “DKSH does everything Hahn does in Australia in terms of salesforce services, nursing education and patient support programs, and a lot more. They are wholesalers and distributors and licensees. I would imagine most of the industry is already working with DKSH agencies somewhere across its markets.”
With 32,450 staff across 36 markets, DKSH describes itself as a “market expansion services provider”, turning over around AU$15 billion a year. Moore says having access to the technology, funding and services that a large global company like DKSH brings – and that he can now bring to Australia – was exciting, as was working with the DKSH global leadership team.
“When it comes to what this deal does for us, it moves us from Aussie battler through to being part of a global conglomerate,” he said. “This company is market-leading in the markets it is in. There is so much we can learn from DKSH and I’m really excited about that. Up until now, we’ve largely made it up as we went along.”
Moore says staff that shone at Hahn in Australia would have access to global opportunities, which will attract talent. “Ultimately, this is an injection of energy. Suddenly you’re part of a global company. What comes with that I don’t really know but we’re about to find out.”
The story of the deal
The story of the DKSH deal stems back to 2019 when Moore and O’Donnell were initially approached by another company, spurring the partners to see what other offers were out there. They were “pretty quickly” approached by other interested players, deciding DKSH was the best fit late last year. The parties set about constructing the deal, signed last week.
While much of the work was done during Covid, Moore says the pandemic provided an opportunity for businesses like Hahn that were nimble enough to embrace change.
“Strike out the word crisis and write opportunity, because at the end of the day Covid was a new paradigm and we had to ask how to turn it to our advantage,” he says. “We couldn’t just sit and rest but had to work out how to both help our clients and create focus and purpose in our teams.
“The result of that was we grew through Covid, executed strategies and got stuff done. It’s in our DNA as a service provider to get results.”
The future opportunity
Moore says with the cell and gene therapies of the future being more complicated and expensive than traditional medicines, the acquisition positioned Hahn to better take advantage of new opportunities.
“The future is not about having armies of sales reps going around delivering relatively simple messages. It’s about educators and salespeople helping the primary healthcare environment to understand what treatments are available, who the right patients are, how to identify the right patients and how to screen, refer and support them.
“That is going to require a very different approach to the customer-facing model, which I think is unbelievably exciting.
“All patients start in primary care. If we can find a better way to help the primary care environment use the right diagnostic testing, the right patient recall processes, the right care plans to fast track patients through the system to get the right treatment, the end result is good for everybody.
“Change is a slow beast. It’s going to take time so it makes sense that we’ve made this step with DKSH now as it gives us access to both experience and to capital so we can have a crack at these things. It’s going to work out well for everyone.”