Andrew McKechnie

I’ve been at PwC for 17 years, and I focus on Healthcare. I’ve specialised in that sector since the early 2000s, and I’ve been involved in some of the biggest deals in that market.  I have worked with a number of these businesses continuously over this time, advising them through a whole cycle of different challenges, different management teams, and different owners.

But that’s not that unusual in this sector. A lot of these businesses are owned by PE houses, which means they typically change hands every five years or so. The value we can add, at PwC, is taking a long-term perspective over several of these cycles, so the business can retain the insights it gains over time, and evolves in the right direction. You can also help with the bigger emerging trends, like new technology, and the demographic shifts that mean everyone is living longer, with all the extra healthcare challenges that brings with it.

The two assignments that stand out in the last five years are Nuffield Health and Simplyhealth.

With Nuffield, it was about supporting a new CEO to identify the right strategy for growth – what to buy, what to sell, what to grow, and what to change. With Simplyhealth it was a complete strategy review covering everything from M&A to the operating model.

In both cases it’s been a real partnership, as I’ve worked alongside them putting the plans into action. That’s the most rewarding part of my job. That’s at the heart of my Deal Value Architect role: it’s not just about preparing clients for transactions and carrying them through, it’s about the hard work of integration and growth thereafter. As we all know, that’s where the real value is gained (or lost).

I have an amazing team of intelligent, capable, commercially-minded people who work with me to help clients do that.

I think a commercial mind-set is especially important in this area. I take an outside-in view, which combines a strategic perspective with an awareness of trends in the wider sector and changes in the market. Clients really value that. They also value an honest opinion, and I’m never afraid to give it.

PE houses, in particular, expect you to have a view and part of my Deal Value Architect role will be to support one of the world’s biggest PE houses in developing their acquisition strategy in an increasingly competitive M&A market. From targeting, to deal execution, to delivery and exit.

As a Deal Value Architect, I’ll be co-ordinating all the different experts across PwC to create a powerful virtual team to support my clients in whatever they need, whether it’s territory expertise, or product and consumer insight, or technical know-how like tax. It’s about getting the right people, to give the right advice, at the right time.