A prominent factor to consider when analyzing the merits of a potential merger or acquisition is how well an institution's culture compliments the environment a partner would cultivate.
In an interview with Becker's Hospital Review, Neil de Crescenzo, president and CEO of revenue cycle software and analytics solutions provider Change Healthcare, discussed the company's recent merger with McKesson Corp., and how leaders from each organization pursued the venture. According to Mr. Crescenzo, organizations involved in any M&A agreement must think about the kind of culture their combined entity will have and how that culture will motivate employees to come into work every day.
"After announcing the acquisition last year, we spent a lot of time really understanding the strengths of each organization and how to take the best of both cultures and create a new culture based on existing tenets but appropriate for a company that is a leader in the field. Basically, culture trumps all. When you get involved in mergers or acquisitions, it's tempting to get caught up in the finances and regulatory approvals. All those things are incredibly important, but equally important is the focus on culture. What kind of new and exciting culture are you creating in a merger to get people excited about coming to work and serving customers at the new company?"
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