US healthcare consulting firm Vynamic expands into UK
Philadelphia-based healthcare consultancy Vynamic has opened a new office in London. The location is the firm’s third office, and its first international outpost.
The UK’s unsteady march toward an EU exit has unearthed a number of opportunities for US firms. The weakened British pound and favorable exchange rate, for example, has made UK companies increasingly attractive to US buyers. The value of deals in which US companies acquired UK businesses more than doubled to £79 billion in 2017-2018, from £36.8 billion in the previous year.
Brexit has also created increased demand for consulting services, as UK organizations scramble to prepare for multiple scenarios, and effects on trade, regulation, and the economy at large. Meanwhile, top firms have also been doing plenty of consulting work for the government in advance of Brexit, raking in £75 million worth of government contracts. Where there is crisis often lies opportunity, hence Vynamic's new office.
Founded in 2002 by former Accenture executive Dan Calista, Vynamic has grown into a company employing more than 120 people, serving some of the largest companies in healthcare technology and providers, life sciences, providers, and public health. The firm’s offerings include strategy, vendor management, systems implementation, and organizational change.
Vynamic opened a Boston office in 2015 to capitalize on growing demand in New England. The firm's move to the UK is part of a strategy “to support existing and new clients on a global scale,” according to a release from Vynamic.
Brexit fallout has many industries, including healthcare and pharma, seeking expert advice. The exit creates issues for talent recruitment and retention (in hospitals, pharma R&D, etc.), while also creating pharmaceutical regulatory alignment headaches with the EU. A ‘no deal’ Brexit also creates huge drug import issues, and as such, pharma companies and individuals have been stockpiling medicine in advance of the deadline.
Vynamic will aim to help healthcare industry clients overcome their looming challenges from the new London office, sharing a location with sister company STEM Healthcare, a benchmarking firm. Both companies are owned by Dublin-based pharma company UDG Healthcare; Vynamic was acquired in 2017 as UDG sought to bolster its advisory offerings.
“We are excited to bring our healthy culture and proven client track record to the global healthcare marketplace," Jeff Dill, Vynamic CEO, said
The London office will be launched by executive Gemma Pfister and director Michael Hudson. Pfister, a 20-year veteran of the global healthcare industry, joins the London office from UDG Healthcare’s now-defunct InterPhase Consult advisory firm in Macclesfield, UK. Hudson, who has been with Vynamic since 2012, will relocate from the Philadelphia office.
“Both Gemma and Michael embody the Vynamic values. Their experience, leadership, and positive energy enable us to serve new and existing clients from a thriving London office,” Dill said.
