maconda advises an investor supported by family businesses on the investment in Careforce, a leading provider of sales outsourcing for the pharmaceutical industry
maconda News March 2018
In 2017, maconda supported the entry of a German investor backed by family businesses with a comprehensive Commercial Due Diligence for Careforce GmbH over several months. In doing so, the Cologne-based consultants were able to draw on their many years of broad experience in business process outsourcing.
Careforce was founded in Cologne in 2000 and, with over 700 field staff, is one of the largest companies for outsourced sales services in the German-speaking market. The company recruits qualified employees and makes them available primarily to leading (research-based) pharmaceutical companies. The service portfolio covers the entire spectrum of sales solutions in the areas of leasing field staff/CSO and executive search – from filling individual vacancies to providing complete sales teams. Long-standing customers include both international corporations and mid-sized companies in the pharmaceutical and medical device industries.
In the Commercial Due Diligence, the maconda team analyzed the development of the pharmaceutical market segments relevant to Careforce. The focus was on the expected number of approvals for innovative active ingredients requiring explanation, which must then be marketed through active sales. maconda examined the current and future importance of outsourcing in the pharmaceutical industry and assessed the possible impact of current changes in labor law on the market for external pharmaceutical sales representatives.
Based on the findings, maconda estimated the volume of the market for external pharmaceutical sales representatives and the expected development. This was validated through targeted interviews with selected market experts from the maconda network, which has grown over many years. The work was completed by a comprehensive business plan assessment, within the framework of which possible growth paths for Careforce could be identified.
Careforce is the leading company for outsourced sales services in the German-speaking market. In the “Project Teams” division, Careforce manages entire sales teams for its customers, while in the “Vacancy Management” division, open positions in existing field service lines are filled precisely by Careforce. In the “Executive Search” division, Careforce fills management positions for its customers. The company has grown continuously in recent years.