The Situation

The Nordic Medical Device company had been one of the most successful companies in the industry for over 10 years, both from a top line and bottom line perspective with growth from 30 MEuro to 120 MEuro in ten years.

During 2008, 2009 and 2010 the industry changed dramatically with respect to price pressure. More sophisticated customers with less sales built on relations with increased competition from low cost countries

During this period, the weaknesses in the company were identified as the CEO and other staff who had been in the company for a long period of time who seemed unable to adapt to the new market conditions.

The Solution

A WIL Group member provided an Interim CEO with the mission to turn the company around.

The Result

A cost reduction was defined and executed

A Group strategy and plan was defined and executed with the company returning to its core business

A new organisation and governance was put in place

Selling part of the company was initiated.

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