THINKING BUSINESS
a blog by Chris Barrow

An opportunity for somebody that you know?

Its time to start building the team at Newco (we don’t have a brand name yet – but assume that Newco is the Private Sector Division of IDH). There is an existing team of 2 Acquisitions Managers, whose responsibilities are currently within the NHS Division of the business. The company is now looking for 2 new full-time team members, one who would focus on NHS acquisitions and the other focused on working with me on private acquisitions. We would, however, expect the individuals concerned to be flexible enough to cross between the divisions if necessary – after all, I already realise that there is no hard boundary between “NHS” and “private”. I will reproduce the latest version of the job description at the end of this post – but for now, you need to know that I’m starting to search for the people who will grow Newco with me – what promises to be an adventure. When Ernest Shackleton advertised for his infamous Antarctic expedition, he received 500 replies to:

“Men wanted for hazardous journey Long hours of extreme cold and darkness Safe return doubtful”

I genuinely believe that we are making a much more secure offer than that! BUT – I also believe that the next 3-5 years will be the most exciting of my professional life and if you know someone who would be interested in sharing that adventure, then please let me know – we are interviewing in September. Here’s the draft job description:  JOB DESCRIPTION JOB TITLE Acquisitions Manager   REPORTS TO CEO   DEPARTMENT Business Development/Acquisitions  LOCATION Kearsley/Bolton/Home  MAIN PURPOSE OF JOB The Acquisitions Manager is responsible for generating leads and interest from Dentists wishing to sell their practices and subsequently acquiring practices on behalf of the company. JOB ACCOUNTABILITIES Acquisitions · Target new acquisition practices via cold calling, advertising in the BDJ/Dentistry, existing contacts and mailshots · Liaise with practice principals as to current running costs of practices and any efficiencies IDH may be able to make · Review profitability of target practices and build in any incremental post completion costs to the company · Negotiate and Agree terms of sale with sellers of acquisition practices · Liaise with legal team on terms of purchase through to completion of contracts · Obtain financial and operational information from potential sellers (this may require travel to sellers premises/practices/homes/office) · Analyse data · Produce financial due diligence reports for review and decision making · Liaise with external accountants to facilitate financial due diligence reports on larger acquisitions · Review and comment on external financial due diligence reports until the company is comfortable with the final report Personal Profile Personality · Proactive, results orientated with a positive outlook · Natural forward thinker/planner with a strong personality and the ability to effectively manage and build relationships · Mature, credible individual who is capable of communicating at all levels within the organisation · Resilient and robust · Approachable and open · Team player Personal situation · Able to commute on a nationwide basis · Able to work extended hours when required · Able to spend nights away on business if required Specific job skills · Knowledge of Dentistry, NHS guidelines (PDS) and Performance targets (UDA’s) would be advantageous · Strong understanding of key financial data · Ability to write and review financial and management reports · Management experience within a similar organisation · Capable of operating to specified deadlines and under pressure · Excellent communication and relationship building skills · Business oriented, commercial and customer focused Commercial skills · Organised and effective time manager · Effective communicator Â

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