New product diversification

New product diversification

A strategy for a paper company to take its first steps in the health sector.

Challenge

A very experienced paper company wished to diversify its business and contemplated adapting one of its product lines for application in the healthcare sector.
There were several openings available but the company seriously lacked the internal know-how to meet the requirements for a heavily-regulated sector like healthcare.

Solution

After analysing the company’s features and global strategy, we designed a workshop for the management team and business development team to identify real opportunities and to establish how healthcare diversification could be blended into the paper company’s DNA. We showed them the risks and benefits of entering a hitherto unknown market but also where they had the potential to explore and what was the best way to do so successfully.
We defined the best fields for them to launch their commercial offering in, from diagnostic products to disposable products in the hospital market.
We analysed their internal resources and found the best partners for them to co-develop the most suitable technology with and to reduce their time to market.

Result

The company clearly decided on what were the risks and opportunities. It focussed on specific actions to take and defined its roadmap to enter the healthcare sector.
A timeline was set of activities, agreements with potential partners and milestones of Go/No-Go decisions.
Harmonious alignment of the company and its global strategy.
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