Alitam Founder and CEO Feisal Nahaboo has revealed that his pioneering 100-plus retailer pharmacy group has elevated natural ‘like-for-like’ turnover by a staggering 24% in simply two years of operation as new scientific service choices swells footfall.
Alitam, the pioneering 100-plus retailer pharmacy group, has elevated turnover by nearly 1 / 4 in simply two years, it was revealed at present.
Alitam founder and CEO Feisal Nahaboo has mentioned that the merger’s natural like-for-like turnover has grown by 24 per cent since its basis in late 2019.
This fast progress is attributed partly to better cost-efficiencies achieved throughout the group by means of Nahaboo’s revolutionary M&A automobile, the In a single day A number of Merger Mannequin (OMMM).
The extra revenue generated has allowed shops to headhunt extremely expert employees to spice up scientific companies whereas additionally investing in affected person training—higher serving communities whereas rising footfall on the identical time.
Alitam’s fast progress come as little shock to monetary and accountancy business insiders, who’ve already watched Nahaboo rework enterprise functionality and profitability with a whole lot of companies over the previous 20 years.
He’s extensively recognised as being an skilled in serving to companies maximise profitability by decreasing P&L prices, whereas supporting fairness administrators to launch new companies amongst their consumer bases.
Utilizing the OMMM, Nahaboo created a number one accountancy agency, Xeinadin—comprising a mass merger of greater than 100 impartial accountancy companies—seemingly ‘in a single day’.
He engineered quite a lot of completely different advertising and marketing and monetary methods to exponentially enhance Xeinadin subsidiaries’ revenue.
After manufacturing the world-record merger and consolidation strategy of 122 accountancy practices spanning simply 256 working days, Xeinadin fairness companions obtained vital pay outs on non-public fairness funding on account of Nahaboo’s preliminary work in constructing Xeinadin right into a extremely worthwhile firm.
Many are actually exhibiting document revenue ranges following Nahaboo’s preliminary management as founder from Could 2018 to December 2020, with enterprise valuations reaching treble that of the business customary.
Simply as Xeinadin was fashioned round Nahaboo’s visionary multi-service platform—providing the complete vary of accountancy, monetary, authorized and HR help to purchasers—Alitam additionally has a visionary mandate: to ship a preventative healthcare service which “really meets the well being and wellbeing wants of the nation”, decreasing the burden on NHS companies resembling GPs and hospitals.
That is all underpinned by the entrepreneur’s meticulous enterprise technique to seize his imaginative and prescient inside a large-platform enterprise consisting of 100-plus subsidiaries.
Nahaboo mentioned: “Enterprise methods for creating profitability are in my blood. There have been seven key the reason why Alitam pharmacies gross sales soared.
“In early 2020, I sat with the primary pharmacy fairness director of every subsidiary, explaining how they could possibly be extra cost-efficient by addressing issues of their P&L extra successfully.
“This extra revenue allowed shops to headhunt extremely expert and certified personnel to spice up the scientific providing instore, that means communities could possibly be extra absolutely served, whereas gross sales elevated.
“Now you possibly can stroll into an Alitam pharmacy and obtain skilled medical assistance on an in depth providing from sore throats, ankle sprains and minor wounds to journey vaccinations, seasonal vaccinations and diabetes checks.
“Alitam pharmacies may additionally widen their remit by harnessing the expertise and knowledge of their Alitam friends who already featured sure companies in retailer—resembling stop-smoking clinics, males’s and ladies’s well being checks, weight reduction, journey clinics, hair loss and plenty of extra.
“In the meantime, pharmacies started to endorse and advocate fellow Alitam pharmacies to sufferers, so we may capitalise on the specialisms provided throughout the group. To sufferers, after all, this meant they’d a supply of assist, it doesn’t matter what.
“Key to all of that is affected person training—making native prospects conscious of the size of scientific assist a pharmacist can present. This was achieved by means of digital advertising and marketing, in-store advertising and marketing in addition to native PR exercise.
“The inception of Alitam coincided with the primary wave of the Covid-19 pandemic and footfall naturally elevated, as different Excessive Road companies have been compelled to shut.
“However Alitam pharmacies ran coaching programmes with their employees, to make sure their groups constructed robust relationships with prospects—making them conscious of the extent of scientific companies accessible resembling weight administration, blood stress checks, ear irrigation, minor illnesses clinics and extra while hospitals and GPs have been closed managing their pandemic disaster.
“Employees have been additionally educated to empower sufferers to proactively take care of their well being and, hopefully, keep away from burgeoning points.
“We put in digital screens instore, and in shopfront home windows, to show particulars of present, and model new, well being companies accessible. We additionally constructed strong affected person databases, which meant we may successfully goal sufferers with a tailor-made healthcare providing.
“Alitam pharmacy fairness administrators targeted on optimising buyer stream by means of the shop, and ensured their group of pharmacists have been utilised most successfully.
“Gross sales additionally elevated on account of optimum use of session rooms, whereby scientific companies supporting chilly and flu or sports activities damage clinics may run at capability every day.”
Solely final week, Alitam introduced a brand new partnership with Pharmadoctor, the business specialists in offering the instruments and sources for instore medical scientific companies, which is able to convey walk-in, GP-type scientific companies to shops.
These companies will initially be trialled inside quite a lot of Alitam shops earlier than being rolled out nationwide, enabling sufferers to entry pressing medical care with out the necessity to look ahead to a GP or hospital appointment.
Nahaboo added: “Having grow to be accustomed to this new modus operandi, many Alitam pharmacies are very eager to increase their providing even additional.
“Final week I introduced our strategic partnership with Pharmadoctor, which is able to allow a mass roll-out of the aforementioned GP-style companies throughout Alitam shops, and raise an enormous burden from major care companies.
“We’ve one other three companions to call shortly, all supplying Alitam pharmacies with digital instruments, sources, data and coaching to ship further medical companies.”
With quite a lot of Alitam pharmacies rolling out new medical companies, it appears doubtless that Nahaboo’s forecast of 10 per cent minimal ‘like for like’ natural progress every year for the following two years will quickly be achieved.
On high of this natural progress, his lately introduced five-year pharmacy acquisition programme for Alitam will see a forecast 50 per cent acquisition progress for yr one and an additional 33 per cent acquisition progress for yr two.
Alitam plan to amass 50-plus pharmacy shops a yr for the following 5 years and Nahaboo forecasts that fifty per cent of all his acquisition targets will probably be providing an in depth medical service programme of their shops, which is able to enhance natural progress additional.
He has already begun negotiating acquisitions and getting ready pharmacies to enter Alitam within the subsequent 24 months.
This will probably be a vital step in realising Alitam’s multi-billion-pound ‘Pharmacy of the Future’ plan to launch a series of ‘Tremendous Pharmacies’ throughout the UK and Eire over the following decade which is able to embed preventative healthcare by drawing upon the abilities and experience of “underutilised” pharmacists.
“By leveraging the abilities, and infrastructure, of group pharmacies, we are able to radically reshape the healthcare panorama,” mentioned Nahaboo.
“We’ve seen by means of the recognition of our vaccination clinics and medical and wellbeing clinics, simply how badly these are wanted. And Alitam is ready to go a lot additional.
“I lately introduced a multi-billion-pound plan to launch a series of ‘Tremendous Pharmacies’ throughout the UK and Eire throughout the subsequent ten years.
“These Tremendous Pharmacies will supply every part from extremely regulated ophthalmic and audiology companies to physiotherapy and even midwife-led care.
“It’s about giving the individuals of our nation the healthcare, and high quality of life, they deserve. We’ve been planning our technique and implementation programme for 2 years and now I’ve the Alitam infrastructure to extend the roll-out programme.
“Far too many pharmacies usually are not being courageous sufficient to increase past conventional pharmacy companies so a part of our remit is to assist them on this regard; providing the hand of steering and mentorship to pharmacies in all places, and enhancing the well being of our communities total.”