The company was in severe financial distress. The business had become over-leveraged following a difficult product launch. Investment was required to deliver a further 40% increase in production capacity, whilst ensuring a sustainable cost base could be achieved.
The Local Authority set the cost reduction target at £57 million over a 3-year period, but without any in-house capability to deliver such a programme the organisation decided to engage private sector restructuring expertise.
Two site acute healthcare provider based in the South of England achieving revenues of £337m. Significant financial pressures and lack of joined up working practices/systems between the two main sites.
The Acute Trust and the local health economy faced a considerable financial challenge over the spending review period to 2014/15 Cost reduction measures of around £22 million were identified as being required over the following four years.
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