Ray Berglund joins Alvarez & Marsal's healthcare practice

Global consulting firm Alvarez & Marsal has appointed a new Managing Director to its European healthcare and life sciences wing. Ray Berglund will now help the firm expand its practice, as clients look to navigate an increasingly complex and volatile market.

A number of major economies across Europe are facing the protracted effects of an ageing population. In the UK, 18% of the population are currently aged 65 and over and 2.4% are aged 85 and over. Births technically continue to outnumber deaths, meaning the population is rising, however this is largely thanks to the average life expectancy having steadily risen in recent years, while the baby boomer generation steadily approaches an age at which it must seek medical attention en masse.

As is the case across the continent, growing demand for social care is placing notable strain on the public health services and pension pots. As a result, hospitals are constantly on the hunt for new ways to reduce spending on operations in order to concentrate funds where they are needed most. This is particularly pertinent because of an increasingly predatory pharmaceutical market, which amid rising demand has opted to exploit demand by hiking prices at well above the rate of inflation.

In this complex and challenging healthcare environment, consulting with external expertise to maximise operational efficiency, navigate shifting regulations, and weigh up the cost of public discussions on medicine costs is essential. To that end, Alvarez & Marsal (A&M) offers a legacy of senior consulting expertise and in-depth industry specialists to companies via its European healthcare practice, aiming to help European and global healthcare companies transform their businesses, innovate, and grow in the market environment of tomorrow.

A&M has put in significant work in the sector for European clients over the past few years, bringing together the firm’s existing healthcare expertise across multiple European jurisdictions. Reflecting its ambitions to continue widening, A&M has appointed Ray Berglund to help spearhead its efforts in expanding its healthcare practice in Europe.

Berglund will be based in London and will report directly to A&M’s Head of Europe, Antonio Alvarez III. He will help lead A&M’s recruitment of medical technology, pharmaceutical and biotech specialists to strengthen and expand the firm’s offering. The market dynamics for healthcare companies are changing throughout the world with increasing cost pressures, demographic shifts, regulatory hurdles and rapidly developing technology.

Alvarez remarked, “The healthcare and life sciences sectors in the UK and Europe are facing numerous challenges… As a result, clients in this space are increasingly turning to A&M as a firm that is capable of rapidly delivering performance improvements. Ray’s operational background and depth of transformational expertise align A&M’s European healthcare practice with the hands-on approach that sets A&M apart.”

A specialist in the MedTech sector, Berglund joins A&M from Acelity, a global leader in the wound care industry and a former A&M client. As a result, Berglund experienced A&M’s approach to value creation first hand, aiding his leadership of the transformation of the portfolio management process and commercial growth efforts in Europe and the US as CFO, Global Commercial & Innovation. He has over 15 years of experience in transformation, turnaround and financial leadership, and has additionally advised on cost reduction initiatives and integration in mergers and acquisitions across corporate and private equity-owned businesses.

Commenting on his decision to join A&M, Berglund explained, “Innovation is at once the biggest opportunity and the biggest threat to businesses in the healthcare and life sciences sectors. We can make a real difference in helping clients to better allocate resources and deliver the growth and returns on investment that have become far more challenging in recent years. As a former A&M client myself, I saw at first-hand how A&M took a leadership role from day one and understand the value that the firm’s practical and ‘no-nonsense’ approach can bring.”