PSS Redux--The Fall and Rise of a Physician Supply Company, Part II
Executive Summary
After a meteoric rise through the late 1980s and early 1990s, PSS began to stumble badly, beginning with a difficult IPO in 1994 and culminating in a terminated acquisition offer in 2000. Having seen even its last hope--a face-saving merger--evaporate, PSS' senior managers had no choice but to try to turn the company around on their own. That's what they've done for the past eighteen months, with a strategy focusing on better financial controls, on the one hand, and a rededication to customer service, on the other.
You may also be interested in...
In Diagnostic Supply, A Powerhouse is Launched
The merger of two leading diagnostic suppliers has created a national presence in the troubled diagnostic imaging distribution segment. Platinium Equities paid $250 million to buy the dx imaging distribution businesses of Philips Medical and PSS, but even at that cheap price, the road to success is fraught with obstacles. Notably, the imaging film segment is under considerable competitive pressure from the increasing popularity of PACS.
Lack Of Industry Involvement In Scoping Process Exacerbates ‘Unworkable’ Timelines
Scientific advice could help companies make up for the lack of involvement in scoping, but slots are in short supply.