Focus Magazine - Summer 2017 - 18

COVERSTORY

The M&A Whirlwind
Mergers and acquisitions have become a
dominant force that shapes our industry, and
oen, our careers. A 2016 KPMG survey
declared the top three industries with the
most M&A deals are technology,
pharmaceuticals & biotech and healthcare. In
Jan-Sept of 2015, there were over 300 M&As
in the United States in life sciences. On the
medical device side, we've witnessed:
* Medtronic acquire Covidien
* St. Jude Medical purchase oratec, then
Abbott Vascular acquire St. Jude Medical.
* AbbVie-Pharmalytics
* Alexion-Synageva
* Celgene-Receptos
* Endo-Par
* Mylan-Meda

Networking: The M&A Opportunity
By Steve Woodruff
In the midst of all the recent merger & acquisition activity in life
sciences, one thing is worth remembering: With change comes
new opportunity. Mergers require training professionals to build
new contacts, either with the expanded firm or even within the
existing company. Forging new relationships can be a major
benefit to your professional network.
But, one other thing is true: Nobody's going to build your
professional network for you.
You have a day job, and most of your time and energy have to
go to that. But lots of people have a "side hustle" - another
area of interest and endeavor that may or may not currently
make revenue. I'd suggest that you make your side hustle - for
one year - the building of your professional network.

* Pfizer-Medivation
* Pfizer-Hospira
* Shire-Baxalta
* Teva-Allergan Generics
* Valeant-Salix, and more.
According to another report, 70 percent of
large pharma companies interviewed
anticipate M&A activity in the next three
years. Life sciences is in a M&A frenzy.
Why? Companies pursue M&A activity for
various reasons, including pressure to meet
growth expectations, growth by consolidation,

We all know that there is no corporate safety net anymore. How
many of your colleagues have suddenly found themselves
without a job, after years of dedicated service? How many times
has this happened to you? What typically happens is that we
rediscover the value of a professional network at that time,
desperately reaching out to try to secure our next position.
Sometimes, that works. But what works far better is cultivating
a network of great colleagues before you ever need them in a
job transition.
Here are three suggestions for proactively building your
professional network:
Once a week, set up a coffee with a co-worker, just because. No
agenda - just ask them about their work and see if you can help
them in any way.
Accept lunch invitations with vendors. They are some of the
best-connected people in your sphere, and may be able to
connect you with a wide variety of top people in other
companies.
Attend an LTEN event and use social media tools to make
acquaintances and start a conversation, connect or seek advice.
Your network is not simply your safety net - it is your goldmine!

Steve Woodruff is president of Impactiviti. Email Steve at
stevew@impactiviti.com.

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